I'm trying to establish a credit history and having a hard time doing so. I received an application in the mail today for an AMEX green card but I was wondering if the charge cards count towards your credit rating. Anyone here know if it does?
Yes, it does affect your credit history. But here is a good article summarizing why the Green Card isn't all that good a deal anymore. Even without a significant credit history, you should still be able to get a rewards card with no annual fee somewhere else.
thanks, that article was helpful. i was trying to find a card that would be easy for an 18 year old looking to establish credit (not get into debt). I've already applied for a CapitolOne card but was declined due to them not being able to find a valid credit score for me. I also tried for a Target card (since I work there) and was declined for the same reason. Am I doing something wrong? Keep in mind, I'm not looking for thousands of dollars in credit, just enough that I can establish credit for when I want to buy a car or house later on in life.
The credit card companies are usually falling over themselves to sign up college students.
Look for the applications in the student lounge areas.
Just go easy and pay them off each month and you'll have great credit before you know it.
Don't worry about Capital One, they aren't the company they used to be. They started with all these ridiculous hidden rate changes and fees. They aren't any better than the fly by night card companies now. AMEX isn't cheap, but they are a decent company. You can also get their Optima card which is pretty much a regular card with a limit. They have decent rewards cards too.