is the walmart credit card good for me?
I'm a 19 male, no credit history and a decent paying job. no debt and no children or dependents, i wanted a credit card to help my credit. is this a wise deciosion or no? and NO responses saying i shouldn't get a credit card, when almost every american is $8000 in CC debt
- 9 years agoFavorite Answer
I got my first credit card when I was 18, it was the worst decision of my life. As requested, I am not saying not to get a credit card, some mistakes have to be learned for yourself. My only request is learn what it really takes to "help my credit", and please learn it sooner rather than later. It took me till I was 26 to figure it out. If you get to the point where you understand that zero is the true perfect credit score, you will know you figured it out.
- Go with the flowLv 79 years ago
Steps to proving to a credit card that you are worthy:
1. Have a checking account for 1 year in your name only.
Keep at least 2 weeks pay as a minimum.
2. Have a savings account with 5 months worth of income socked away.
A bank will ask about these accounts and verfiy.
You will also need to be employed for 1 full year with tax returns to back up your income.
Minimum wage or part time work income will not be enough to qualify.
Become Financially Fit first.
That emergency savings account will always be more important than any top fico score.
Plus, you don't really need credit in life
You can get a car loan without credit as long as a lender sees your steady, full time employment with sufficient salary to support the car loan.
Also a landlord will rent to you. They just want to see your income.
In these cases, no credit is better than bad credit.
Never carry credit card balances.
If you ever get a card, pay in full each month for those top credit scores.
Carrying balances is what easily destroys credit.
- Amarnath CLv 79 years ago
Very much ''Yes.''
All the best.
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- 9 years ago
Yes & it is fairly easy to get. Just remember that you have the say in how high your limit gets. Wal-Mart will raise your limit every few months with good payment history. Never let your balance get any higher than your checking account balance. That's a good rule that may save your butt!Source(s): 15 years in banking/credit