As eager as you may be to get your first credit card, many credit card companies aren't so eager to give you one. Rather than putting in several credit card applications to see who's going to approve you, target just a few companies that are known for giving credit cards to first-timers.
Understand the credit card situation for young adults
Getting approved for the first credit card can be tough, especially if you're under age 21. First, Federal law requires that young adults under age 21 have verifiable income (not an allowance) before they can be approved for a credit card without a cosigner. If you don’t have income, then you’ll have to find someone who’s willing to open up a joint credit card with you.
Get a jobHaving a steady income, ideally from a part-time or full-time job, will put you in a good position to get your first credit card. Credit card issuers have to make sure you have the means to repay a credit card balance before they approve you.
Look in the right placesMajor credit card issuers: student credit cards
If you're enrolled in college, you have a very good chance of getting approved for a student credit card as your first credit card. Most major credit card issuers have a student credit card. But, don’t think it’s a good deal just because it has student in the title. Some student credit cards have high interest rates and annual fees, both make a card a bad option for a first credit card. You may get several credit card offers, but signup for just one to begin with.Your bank
If you've been responsible with a checking or savings account, you can try applying for your first credit card at your bank. Having an existing relationship can improve your chances at getting a credit card application approved, especially if you’ve handled your account responsibly, e.g. no overdrafts. You can simply apply online, but visiting a bank branch would put you face-to-face with a representative who may have more authority to get your application approved.A retail or department
Retail and department stores typically have easy credit card approval. This can make getting your first credit card less complicated. On the downside, they have high interest rates that make it expensive to carry a balance from one month to the next. Another downside of these cards is they aren't versatile - you can only use them in that store. That limits what you can purchase, but encourages you to go on a spending spree by offering discounts.
Having a retail store credit card as your first credit card can help you build up a good enough credit history to apply for a major credit card in the future.A secured credit card
When your (lack of) credit history keeps you from getting a standard credit card, you can apply for a secured credit card. With a secured credit card, you make a deposit against the credit limit of the account. The bank holds the deposit just in case you don't make your payments as agreed. Many credit card issuers will convert your secured credit card to an unsecured one as long as you make your monthly payments on time. Don’t worry that a secured credit card will hurt your chances at getting other credit cards – there’s nothing on your credit report to indicate you have a secured credit card.