Having worked in a bank for a few years, I can tell you this: Banks and credit card companies should not be lumped into the same category. The only thing your credit score counts for is getting approved for a loan (or some other financial program) at a bank or credit union. The better your score, the better your chances of getting a loan, and even if a score is low there are ways to get around it.
Credit card companies also like to tell you that your credit score is important, but its only a gimic. Credit card companies actually search for people with mediocre credit scores, like college students and young professionals. Why? Because credit card companies want you to go into debt. The credit card company doesn't make any money if you pay off your debt every month. So with that in mind, you shouldn't have to much trouble finding a credit card company to accept you, just act responsibly. I recommend CapitalOne. They start you out with a miniscule spending limit, but there are no anual fees, the interest rate was very reasonable (at least when I joined), and they have interest free debt transfers from all other credit card companies.
As an aside, when I was in my teens I started returning every credit card application sent to me just to see how much credit I could possibly get. When I was 18 I had about 25 cards and over 100,000 dollars in expendable credit. It was then I found out that the number of credit cards you have also effects your credit rating, so I cancelled all but two cards.
|