How to get your first credit card

Getting a credit card can make buying things more convenient and may even reward you with perks like cash back or miles rewards. And when used responsibly, a credit card can be a tool for building your credit.

But if you’ve never had a credit card before, where do you start? 

What you’ll learn:

• Reviewing your credit scores and credit history can help you understand your financial status and what credit cards you might be eligible for. 

• Card issuers may use your employment status, income, credit scores and credit history to make a decision on your application.

• Applying for a secured credit card or student credit card might make it easier to be approved.

• Becoming an authorized user is one alternative to consider if you’re not ready for your own credit card.

Before clicking the apply button, it may help to understand some basic information many issuers require. In addition to general information like your name, date of birth and address, most issuers require your:

• Social Security number or individual taxpayer identification number, ITIN for short.

• Proof of income

• Employment status

• Monthly housing payment

According to the Consumer Financial Protection Bureau (CFPB), if you’re under 21, you’ll need proof you have enough independent income to make your minimum credit card payments. Or have a co-signer who is over 21.

Now that you know the basic information needed, you can start researching which credit card could be right for you. Here are five tips to keep in mind:

Credit scores reflect your creditworthiness and help predict how likely you are to pay your debts on time. They’re based, in part, on information found in credit reports. You can use credit scores to understand which cards you might qualify for. For instance, many credit cards are designed for people with fair, good or excellent credit scores. There are even cards for people with no credit scores at all.

You can check your credit report and credit scores with CreditWise from Capital One. CreditWise lets you monitor your credit without hurting your credit scores. And CreditWise is free and available to everyone—even if you’re not a Capital One cardholder.

AnnualCreditReport.com also offers free copies of credit reports from all three major credit bureaus. Credit reports don’t typically include credit scores, but they can help you understand how your credit history impacts your scores.

Once you know your credit scores, consider cards geared toward your credit level. If you’re establishing credit, you might consider one of these types of cards:

• Student credit cards: Student credit cards work like regular credit cards. They usually have some features tailored to a college student’s lifestyle. These may include rewards for entertainment, streaming services, meal delivery services or travel purchases. If you’re enrolled—or admitted and planning to enroll in the next three months—at an accredited university, community college or other higher education institution, explore Capital One’s student credit cards.

• Credit cards for fair or building credit: Some credit cards might suit people with a thin credit file or those working to build healthy credit scores. And some cards may come with rewards like cash back on purchases. For example, QuicksilverOne from Capital One is designed for users with fair credit scores and offers unlimited 1.5% cash back on every purchase. See how you can get started with one of Capital One’s credit cards for fair or building credit.

• Secured credit cards: Secured credit cards are another option for people with little or no credit history. Unlike unsecured credit cards, secured cards typically require you to make a security deposit before opening an account. If you’re interested in a secured credit card, check out Platinum Secured from Capital One or Quicksilver Secured from Capital One.

You may also want to consider how benefits and rewards fit your lifestyle. For instance, you may prefer a credit card that offers cash back on everyday purchases. Or you may want a card with an introductory cash bonus.

Another key to choosing the right card for you is reviewing the terms of the account. Here are a couple to consider:

• Introductory rate: When it comes to credit cards, the annual percentage rate (APR) and interest rate are typically the same. Some cards may offer a temporary low or 0% intro APR. Just remember, once the promotional period is over, a standard APR typically applies to new purchases and any leftover balance.

• Annual fee: Cards that offer rewards or a welcome bonus often come with an annual fee. Consider your financial situation, how you plan to use the card and whether the benefits offered are worth the extra cost.

Seeing whether you’re pre-approved for a card can be another way to improve your approval chances. It can also help avoid unnecessary hard inquiries, which can show up on your credit reports. 

Pre-approvals and pre-qualifications have some differences. But receiving an offer typically means you’ve met the initial criteria required to become a cardholder.

Most issuers offer applications online, over the phone, by mail or even in person.

A decision on your application could take anywhere from seconds to weeks, depending on how you apply. But issuers must give you a decision within 30 days of receiving your complete application.

Applying online or over the phone could be quicker. If you apply by mail, you’ll have to wait for your application to get to the card issuer and for them to mail back the decision.

Still curious about credit cards for first-timers? Here are answers to some frequently asked questions to help make it easier to find and apply for a beginner credit card:

Getting a first credit card can make it easier to shop and build credit for long-term financial well-being. 

If you’re ready to get your first credit card, you can find out whether you’re pre-approved for Capital One credit cards before you submit an application. It’s quick, only requires some basic info and won’t affect your credit scores.

New to credit or looking for your next credit card?

• Earn unlimited 1.5% cash back on every purchase, every day, with Quicksilver.

• Explore Capital One’s credit cards for building credit with responsible use.

• Explore Capital One’s student credit cards.