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Go Back   Canadian Financial Forums > Canadian Financial Forums > Credit Cards

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  #1  
Old 07-31-2008, 03:53 PM
ghak7 ghak7 is offline
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Default credit card for 22 year old

What is a good credit card for 22 year old? I want to build good credit. Any suggestions.
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  #2  
Old 07-31-2008, 05:55 PM
trent trent is offline
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You can apply for unsecured Visa or MasterCard if this is going to be your first credit card. Just go to any of the big Canadian banks like RBC or BMO and apply there. On the credit card application ask for a low credit limit ($500 to $1,000). Make sure that the credit card you are applying for has no yearly fees (a lot of cards do). Don't overspend on the card if you cannot afford to pay it back at the end of the month in full. Always pay your credit card bills on time, and in a few months you should be able to increase your credit limit.
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Old 07-31-2008, 06:00 PM
Canadian Canadian is offline
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If you are student you can apply for a student credit card. Getting a student credit card is easy if you are student, even if you donít have established credit history.
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  #4  
Old 07-31-2008, 06:01 PM
Steven Steven is offline
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If this is your first card, the banks may not approve your application (this is Canada after all). If your credit card application is declined, then you can go the secured credit card route, where itís much easier to get approved.
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  #5  
Old 08-01-2008, 01:57 PM
sunshine sunshine is offline
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Go for the secured credit card. The secured credit card uses cash deposit as collateral. Most of the banks will approve this application. Keep in mind that you still have to pay your bills on time and in full to build good credit history.
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  #6  
Old 09-20-2009, 12:07 AM
Salaso Salaso is offline
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If you're a student, you should easily be able to get a credit card. If you have a job you should be able to get an unsecured credit card. If you're unemployed, then you'll probably have to get a secured card.
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