Originally Posted by
DickStivers
I got a BOA Student Credit Card (not a student). I THINK I had to open a checking account and put $500 in it or something to get this card. I honestly can't remember, but it's not secured. I started out with a $500 limit or something...maybe $1000. I only got this because the floor person suggested it and I had no credit, so it was a solution.
Because of prompt payments, my limit was increased to $2000. I opened up another credit line too, after establishing credit with BOA (banks want 3 lines of credit for a home loan. This can be in the form of credit cards, car payments, cell phone bills, utility bills, etc. and we're looking to buy another house). I get capital one shit in the mail all the time. I don't know if it was from BOA or when I financed my Temperpedic through Wells Fargo, but the junk mail will start pouring in.
The APR fucking blows (it's like 22% or something). I didn't care much about any of that as I never planned on using it without paying the full balance off every month. I'm kinda broke recently so I actually have used it and the finance charge is fuckin $15 each month. THERE IS NO GRACE PERIOD. I went to pay my bill online the day it was due, about 8 p.m., and I got a fucking late charge of $35 because it wasn't during business hours. When I pay off this card, I'm closing the account because the terms are shit. And no grace period is really gay...def don't want to ding my credit.
But, it is a start. Also, if you open up another credit line and don't use it, it actually lowers your credit score, so be careful with that.
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