Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
What credit card would you recommend?
So I talked to my BF today. We are planning on getting an apartment together in January. If you read my previous post, you know that I am trying to pay off one credit card that had been sent to collections and the lawyer. I only have $1,636 left on the card then I will be completely credit card debt free.
Anyway, my credit score is in the high 500s. Very close to 600.
BF doesn't have ANY credit. He has never used a credit card before, only debit cards. And he doesn't have any school loans because he's always paid cash for his classes. And he's never missed a payment on rent, cell phone bill, etc.
Anyway, I told BF that I was worried about getting an apartment in January. My credit is not great and since he doesn't have ANY credit, I was worried that the leasing office would not approve us.
So he decided to get a credit card this week and start using it to build up his credit.
So what would you recommend for him? Btw, this card will be in his name only. Even when we get an apartment together, we will not be merging finances. We plan on splitting the bills and expenses evenly between us.
Thanks in advance! You ladies are awesome 
Re: What credit card would you recommend?
Credit cards have been tightening their standards in the past few years, so without a credit history, his options will be limited at first. I once had a roommate who had just moved here from Canada, and he had no credit history in the US. Even though he had a good income and a good credit history in Canada, credit card companies were only offering him these sort of "starter cards" for people with no credit. The way they worked was essentially like a debit card. He would pay the credit card company $500, and they would give him a $500 limit card. He was essentially borrowing and paying back the $500 deposit he had given the credit card company. That way, the credit card company carried zero risk, and he was able to prove to them that he was capable of making payments on time. After a few months of this, they finally upgraded him to an actual credit card with a higher limit.
It's possible that your BF may have to start with one of these cards for the first few months, before his options open up. It could take some time before his credit report has enough data to reflect a score. But you have 6 months before you are looking to rent, so if he starts now, hopefully it will be ok.
Quick follow-up - I found an article about how to get a credit card with no credit history. It turns out the "starter credit card" I described is called a secured credit card. Another option if he can't get approved for a regular credit card is to apply for a store credit card. This will also help open up a credit history for him.
Also, the article says that it usually takes 6 months for credit usage to reflect on your credit report.
http://credit.about.com/od/creditcardbasics/qt/How-To-Get-A-Credit-Card-With-No-Credit-History.htm
Good luck!
PP already mentioned a Secured Card, which is a good idea and you can get them at just about any larger bank (Wells Fargo, US Bank, Chase, etc.).
Also, a store card is the other option. I would have him get one at the grocery store he uses most or for the gas station he goes to most. Probably not a good idea to get one for a store that sells clothing, electronics, or non-essentials because then he will be using it infrequently for non-necessities.
As with any CC to build decent credit, he needs to pay off in-full each month any balance he owes and he needs to pay on time.