soj
Founder
Alright so Im in the market for a new credit card, but im running into quite a few problems. I am 22, currently a student at university looking to finish at the end of 2009 and i only work for my own business. I have a very minimal wage from the business and the rest goes back in for developing. So therefore my income to credit card companies is very low, and im therefore finding it hard to get a half decent credit card anywhere.
I hold an additional card to my parents, which is what ive been using to run Adwords and paying for other things online, etc. And thus i am spending quite a bit of money (repaying it before interest charges of course) and would like to capitalise on rewards points (preferably frequent flyer).
Seeing as im a student and im currently a "low income earner", would the best choice to be apply for a student credit card with a tiny $500 limit, and max that out each month, paying off the money each month, and therefore building a good credit history. Would i then be offered a card with a higher limit and move up from there, or would they limit my credit to the $500 as im a student and therefore am still a low income earner?
Its just frustrating looking at all these applications of cards im more than capable of using and paying off, with minimum incomes of $65,000 a year.
Any suggestions?
I hold an additional card to my parents, which is what ive been using to run Adwords and paying for other things online, etc. And thus i am spending quite a bit of money (repaying it before interest charges of course) and would like to capitalise on rewards points (preferably frequent flyer).
Seeing as im a student and im currently a "low income earner", would the best choice to be apply for a student credit card with a tiny $500 limit, and max that out each month, paying off the money each month, and therefore building a good credit history. Would i then be offered a card with a higher limit and move up from there, or would they limit my credit to the $500 as im a student and therefore am still a low income earner?
Its just frustrating looking at all these applications of cards im more than capable of using and paying off, with minimum incomes of $65,000 a year.
Any suggestions?