So, as I decided to start an adult life, I'm going to get a credit card to put the first record in my credit history. I found the numerous and numerous sites for credit applications, some of them with articles and tips for building credit. I read tens of articles and made a number of conclusions:
- it's impossible to build good credit in a year or two
- you should spend a lot of money on expensive bad credit cards to earn a high payment rating
- you can choose among a number of options, all of them are equally inconvenient - either a secured card, or a card with co-signer, or a totally ruining unsecured card for no credit. It's impossible to choose the least of the evils, as you have to spend much in any case.
I chose a secured credit card for a beginning - namely Orchard bank MasterCard, as I don't want to be dependent on the cosigner and spend even more on fees and interest.
Having sent the application online - I'm waiting for the approval to be mailed...
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