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Young people with no credit history can get debit cards if they open bank accounts. I'm not really sure it helps their credit score but it's convenient. The fir
by throwawayboise 6y ago
Young people with no credit history can get debit cards if they open bank accounts. I'm not really sure it helps their credit score but it's convenient. The first real credit card a young person gets will have a very low limit, maybe only a few hundred dollars, so they are not all that useful at first other than to start establishing a credit history.
- matttb 6y agoDebit cards do not help credit score. If your score is too low or non-existent you often have to get a 'secured' credit card which means you have a limit (often it's still a low limit which I don't understand), and that limit is how much cash you let the company hold for you. It doesn't seem any different to me than having a bank account + debit card. When you're done using a 'secured' card you get your initial money back