Secured credit card
When getting a secured credit card, are there any benefits that are available/useful to consider with an IB analyst lifestyle? Tried reading up and looked at past threads but saw tons of caveats that I'm not sure how to evaluate.
Don't really care for actual line of credit, just looking to build credit score. Thanks in advance for the replies.
I dont think secured credit cards offer any perk but I could be wrong. If you dont have a co-signer or someone isnt willing to add you to one of their cards, secured credit cards are a good way to build credit. You are basically giving them your money as a credit limit and pay back whatever you use. After 3 months of using, you should be good to apply and get approved for a regular credit card. Think capital one (not venture) credit cards are pretty receptive to ppl with short credit history so id try to get that after couple months on secured card.
Secured credit cards are typically for those who have filed bankruptcy or have busted credit for some reason.
nothing wrong with a normal rewards card from chase, Amex, etc. as that’s what most IB juniors have
both build credit score
Thanks for the replies. I thought you need to have a credit score first to get a non secured credit card?
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