Hello, I’m a senior in high school right now and I’m thinking about joining the military. Got some questions on credit cards.
I was thinking of trying to get a good credit score before I head to basic training. My birthday’s in march and because I heard that it takes 6-8 months for a credit score to show, I’m wondering if I should get one before joining or if I should just wait and get one in the military.
I’m thinking of getting the discover it secured card because I heard that its a good one for beginners
Should I get a credit card before joining?
byu/Correct-Interest-404 inMilitaryFinance
Posted by Correct-Interest-404
8 Comments
I recommend you wait till after basic/boot camp. I can’t speak on the card you mentioned but I recommend opening a bank account with NavyFed and they have in house credit cards. USAA is good too but is my second choice. In general you should also open a brokerage account and start investing ASAP. There is a lot to look into but start now. Seriously. Post boot camp you will have a couple grand saved sitting in your bank account. From there you have two options. 1. Blow it on stupid sh*t like the majority of new service members or 2. Suck it up for a few years, forgo some wants and throw money at investments. Just some thoughts good luck.
I would not recommend opening a new account like that right before bootcamp. Unless it’s bad credit, credit won’t effect your military career. You still have MOS/A-school after basic. That would be a better time to open one, if at all. Use it on tiny stuff, like candy bars and shit
Unless you have a very good reason to get one I wouldn’t recommend it at all. The military will give you everything you need. And once you’re out of training you will have better offers. That being said don’t fall for scams. We are with navy federal and they have been good to us. USAA is another for armed forces. Avoid all the bs and for the love of boots.. don’t run out and buy a flashy car. You will end up on Reddit in another category.
I would get a Capital One credit card with an annual fee like the Venture X ($395) before joining because they only waive fees before active duty. But you don’t even have a credit score yet so doesn’t apply here.
I would only recommend a credit card only if you use it more like a debit card and pay it off weekly (or quicker) so you don’t occur any crazy interest and get the 2% cash back and other rewards depending who you go with.
The American Express Platinum card is great for military folks. They waive the annual $700 fee and give you access to the Centurion Lounge when traveling. You would obviously have to wait until your actually in the military first to get that deal. Also, the card makes a good weapon if push comes to shove.
The Discover IT is a good card or a NavyFed or UsAA card too. You’ll need your parents to sign or prove income so you may need to wait. Don’t get any fancy cards until you can establish credit and be responsible with them. Ask your parents if they’ll put as you an authorized user on one of their cards (if they have good credit) it will help establish credit. They don’t even have to give you the card.
OPEN it then apply for SCRA when you get out of basic
If you are smart with your money, and you don’t just buy stuff on a whim then yes, get a credit card ASAP. This will start building your credit history, which will be important later on when you apply for a car loan or mortgage. There are TONS of free credit card benefits out there for military, you just gotta be smart about it and not spend more than you make. Oh, and most importantly, PAY THE STATEMENT BALANE OFF EVERY MONTH!!!