I'm just starting to build my credit (649), and I'm also in need of a few rainchecks for the upcoming 2 weeks, so I'm looking for a credit card. The only ones I've been recommended are "secured" cards with a minimum deposit, which I'm assuming is what my spending limit will be? if I were to apply for the Capital One Platinum Secured Credit Card, and the min. deposit is $49, would $49 be my spending limit?
Is there any credit card that i'll be approved for where I can spend without depositing it first, and then pay it back at the end of the month? For example, I can spend $500 on the card without depositing $500 initially, and pay it off later.
Sorry if this whole thing is convoluted, I'm not very good at explaining and I am brand new at this. I just turned 22.
Thanks !
Posted by str-grl
1 Comment
> Is there any credit card that i’ll be approved for where I can spend without depositing it first, and then pay it back at the end of the month? For example, I can spend $500 on the card without depositing $500 initially, and pay it off later.
This is how a normal credit card works. However, you usually need credit history for that.