I want to start building my credit and want to know if I can do in with a Torrid credit card. I've never had a credit card or a loan?

Answered on April 11, 2017
Updated on April 11, 2017
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
Store credit cards like the Torrid credit card are usually offered to those with average credit, that is your credit score should be above 600. It doesn't mean you won't be able to qualify for this card while you have no credit established. However, we would not recommend you to apply for a store credit card as your first credit card. The reason is, store cards have high interest rates and low limits. So, if you carry a balance on a store credit card, you can easily accrue a great deal of debt, which will be hard to pay off. Also, since credit limit can be low there is a risk of maxing out our credit card. Both won't help you build good credit. Instead of applying for a store credit card, consider getting a regular credit card - secured credit cards are preferable for those who start building their credit. Such cards often come with credit score monitoring services and report credit card payment activity to all major credit bureaus. When you have an understanding how credit cards work, you may want to apply for a store credit card.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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BROWSE MORE QUESTIONS ABOUT No Credit Cards:

You can choose one of the credit cards for limited credit to make your credit profile better. Or you can consider secured credit card. Some card offers have no annual fee and pretty nice rewards programs. Thus, you may save more money than spent on the security deposit.
If you do not have any credit history, you should consider credit cards for people with limited or no credit history. We recommend you consider secured credit cards. Don't worry about security deposit as it is refundable. Also, some secured cards have rewards programs that allow you to earn cash back on your purchases that may potentially cover your deposit expenses.
We can recommend you start with secured credit cards. These cards require a security deposit paid upfront. A secured credit card is a good way to build your credit history as it reports the account activity to major credit bureaus. You just need not to miss payments and pay off your balance. After that, getting approval for an unsecured card will be much easier. For example, you may consider the Merrick Bank Secured Visa® from Merrick Bank. This card can help you build credit, since your account activity will be reported to all three major credit bureaus. The amount of your deposit determines your initial credit...

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