Yes a credit card will help build credit. I would look online at credit cards with interest rates that you are comfortable with. I actually got my first credit card by seeking it out and filling out the request online.
You more than likely won't get approved for a credit card since you have no credit.
You could try a secure CC, though. If you have a bank, go talk to them about it. Basically, you deposit like.. $500 (whatever their minimum is). They hold that money, and give you a credit card. You spend whatever you want, and pay your charges + interest at the end of the month, just like a credit card. After a period of so long, you'll get your $500 back and still be able to use the CC. It improves your credit as well.
I ended up getting Capital One as my first credit. I spent WAY too much on it and ended up being $500 in debt. I called them up months lately and told them my situation (I had just gotten out of the hospital) and they said they will clear my history as soon as I pay it off.
Yes I am doing Finance degree and have always been against credit cardsdue to seeing where it has led family and friends. I didn't bother looking more into it. But a credit card is great to improve credit ratings. I believe Capital One have a suitable card for those that haven't had credit before. Over time credit limit increases depending on if you pay on time etc. I have my first credit card and we buy our petrol with it. I move money to our joint bank account ready for when the credit card bill comes through. So to pay it off at once It is great though for protection against purchases above £100 in which you can get your money back if something goes wrong and you can't claim through company. A good example there is for women who had PIPs implants. If you paid cash, debit card, you will have problems trying to claim back depending on country you live in. If it was paid by credit card you can claim refund via them. Credit cards are very useful to ave aslong as you play by the rules! And you do not have to accept them increasing your credit limit btw, I have known people get in to mre trouble by not realising this fact! If you do get into trouble, cut your card up and ring the credit card company and arrange a repayment plan. They like honesty and can be very helpful when they know they will, eventually, get their money back. They also freeze interest at that point. But if you use it correctly it will not get to the point of needing all that help from messing up.
<blockquote><b>Quoting kthx.:</b>" You more than likely won't get approved for a credit card since you have no credit. You could try a ... [snip!] ... card. After a period of so long, you'll get your $500 back and still be able to use the CC. It improves your credit as well."</blockquote>
this is what we did
We have bank of America and the minimum deposit was $300 which becomes your credit limit.
However if you are doing this to build credit I recommend only using it on gas or something you already budget for and pay it off monthly.