Check out the student credit cards. They generally have a lower interest rate (also lower limits). Is there any reason you want to get a credit card besides the phone plan? I'd like to try going the rest of my life without ever owning another credit card.
Would be nice. Eventually you need to build some kind of credit though. I went for years without ever owning one, but things in life can and do come up where you absolutely need one. Many hotels don't rent rooms without them, car rentals for example.
Not saying go get one and go crazy, but it sure is nice to know that if I am travelling across the country, I'm in an accident, out of province stranded in some strange town that I have a cushion to fall back on. If I have to rent a vehicle, and get a room, it makes things so much easier.
Good to have one for backup.
As far as having zero credit....it is harder for you with zero credit to get a card than someone who has bad credit. What I did was I went to the bank spoke to a loans officer, and expressed my need for one. Showed him how much I make an hour. He told me that I have ZERO credit. We worked out a deal where I purchased a 3yr.500$ GIC (Guaranteed Investment Certificate). All I needed was a 500$ card, so it was basically collateral. What I did to quickly build on that card, was to purchase items that I knew I had the money for, put the money aside and pay the VISA off every month. Within 6 months they doubled my limit to 1000 without me ever asking them to. Then within 2 years, without asking ever, my limit is now 5000$.
As I have a zero, or near zero balance every month, I have a nice 5000 dollar limit card that should get me out of any day to day problems that might arise.
If you wanted, you could probably have your limit boosted quicker than I did, by actually asking to have it raised.
Generally, banks will try to work with you, but something has to sweeten the pot (tee hee
) for them.
Just remember, that having your credit limit raised can be a double edged sword.
Take care, and good luck.
