Getting my first credit card

[David Denzy]

Hello,

I’m a 21 year old junior at Ohio State. I’m waiting until I land a full time job with consistent income before I purchase my first rental property. I’ve been told that it’s important to start building credit early so that I can get a loan when the time comes. However, there’s so many different credit cards to choose from. My goal is to build credit by spending as little as possible on the card. Does anyone have any suggestions for my first credit card or how I can build credit to purchase a home in a year or two?

[Joshua Hively]

@David Denzy

Welcome to BP! You are on the right track. The decisions you make over the next two years can propel an unstoppable real estate investing career. I would start with annualcreditreport.com or one of the personal finance apps such as Mint to get a look at your current score. As for credit cards, check out Nerd Wallet. They have some good comparisons of different cards. If you get denied you can look into getting a secured card. Secured cards have a deposit and generally a small monthly fee like $3. After 6-9 months you should be able to get a non secured card. Get cards with no fees and pay in full every month. I also would reccomend to starting making you way around some of the local meetups to start building a network. As well as beginning to analyze deals and neighborhoods, so when the time comes you will know deals when you see them. Check out the book "Set for Life" by Scott Trench. If you have any questions, feel free to reach out. I'd be happy to share my favorite meetups, resources and such. Go Buckeyes!