I once applied for the Capital One Secured Mastercard. I had very poor credit and did not expect to ever have a better one. Once I was guaranteed and approved I was able to make very low payments on the card and it helped to free me from the burden of bad credit!
Back when I was 18, I used a guaranteed approval Chase student credit card while in college to help build my credit. I had no previous debt or credit cards, so this helped me establish my credit. It is my longest account and I have had it for over 7 years. I don’t think it would have been as easy to build credit without having a card with a long history like that.
In college I first realized I had no credit when I did a credit check. I knew I would not be able to get a loan for any big purchases in my future without it. I would not be able to get a starter home that I wanted to a few years later. I had to apply through Paypal for their Mastercard. They had an easy credit card process despite not having credit and they approved my card quickly. I believe it was instant approval to anyone with good paypal history. I used it for several years after that and at least build up some credit. Now instead of having non-existent credit I now have around 700 credit. I feel anyone can follow that same path to build credit as well.
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