Just like my last question, I am still confused about credit cards. I’m only 19 and I have no credit at all and i wanna start off with a little at least so I can go on in my life and buy a car or something. But my friend told me that if I get a secured credit card from a store say like “Wal-mart.” Will that improve my credit? Thanks much guys. 
3 Comments Already
April 5th, 2010 @7:56 pm
There is a difference between pre-paid cards (the ones you get at Walmart) and secured credit cards. Pre-paid cards are not extensions of credit and will not show on your credit report.
Secured credit cards are lines of credit just like unsecured credit cards. You use the card, get a statement, and make payments just like a regular credit card. Secured cards just require a deposit which is held as collateral against the line of credit. After about a year of using the card and paying in full every month, you should be able to convert the secured card to a regular account.
April 5th, 2010 @8:16 pm
If you’re a college student, I would recommend a college student credit card. Try a site like FIndcollegecards (google it ) As for a credit card building your credit, they all work the same. One card isn’t going to be better than another.
If you’re unsure if the card reports or not, call up the customer service desk, and ask them if they report to the 3 major credit bureaus.
I would advise not to go for store credit card. It’s better to take a secured credit card from the bank. Go to any bank like bank of america and apply for secured credit card. They will open a savings account for you and also issue a credit card. You need to pay annual member fee and that is generally around $30. they will give you credit line around $500. After 6months you can convert the secured card to unsecured with higher credit limit.
Read article
http://www.cashorcredit24.com/how-to-use-secured-credit-cards-to-rebuild-your-credit