Getting My First Credit Card

Success! My very first plastic currency!

Details
Bank: Bank of America
Type: BankAmericard Visa
Credit limit: $1000
APR: %0 for 12 months; 16.24% thereafter
Annual fee: $29/year
Benefits: none

How I did it
I first got my checking account during high school when I was 16 at Bank of America. They offered free checking and savings account for students. That means I did not have to pay the $12 monthly maintenance fee as long as I was still in school (up till age 23).

They had the Keep the Change program that doubled the amount of change after every purchase I made. This was when I learned how a few cents here and there could really add up. By the end of the one year promotion, I saved more than $150 in change, and 100% of that was doubled.

Now that I am 18, I can finally open up my own credit card! Since I had no credit history, I had a difficult time opening an account. This was especially hard due to the 2008 market crash, and bankers were less lenient on lending money.

I managed to bypass this by apply for a secured credit card. A secured credit card is a when you put money up front that the bank holds onto for a year as collateral for an equal amount in line of credit.

Since I managed to gather up $1000 to apply for the secured credit card at Bank of America, I was approved with a $1000 credit limit card! A card was shipped to me in less than a week!