5 Replies to “What was your first ever credit card?”

  1. amex? you knows those suck, right? annual fees, bad terms, high interest rates, not accepted by most retailers….

    My first was offered by my bank, Bank of America. I was 15 when I opened my saving account, with the help of my dad. He just helped me meet the age requirement (18 years minimum) and provide additional ID. A few weeks after my 19th birthday Bank of America offered me a credit card, it had by far, the best rates and terms of contract. I had my choice of Visa or MasterCard, card design and rewards program. Credit line was $12,000. Prior amex sent me pretty much a credit card offer every other week. its like they were really desperate for customers. Discover sent me one every month, and three stores (store cards) offered me a card by mail. The terms were all terrible (according to my dad). Bank of America offered me the best deal and I took it.

    Its really amazing what a few years can do to the credit card industry. There I was, in 2006, making about $1200 a year at a minimum wage, seasonal part time job with less than $2500 in visible savings. And they trusted me with a $12,000 line of credit. Like that’ll happen today. I can see why they tightened things up considerably.

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