What is the minimum amount of monthly income allowed by a Card with the most most lenient set of rules regarding monthly income? I'll get paid June 1st, and again June 29th. My total income for June, 2012 will be around $979.00. I just need to borrow $200, but I can't find anyone who will help me. It's not that I have bad credit...I just don't have any credit at all. Currently on S.S.Disability, and I get just under $500 monthly via direct deposit into my Chase checking account. All other bills, and living expenses such a food, and medicines, are taken care of by my family and insurance companies. At any rate, this $500 I get every month is used by me for whatever purposes my discretion deems appropriate. Since I need to begin establishing a line of credit for myself, and because I just turned 49 years old last week, and realize life and time are quickly passing me by, I've come to believe establishing a good credit history for myself is something that I must begin working toward immediately. I need your help and advice...along with $200 credit until I get my first check June 1st. I will be able to pay off the entire loan, plus any fees than may apply at that time. Sincerely, MARK POWELL

Answered on May 14, 2012
Updated on May 14, 2012
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller

Taking into account that this is your first credit we can recommend you to see credit card offers in Limited or No Credit Cards section. You can apply online or via the phone (if there’s a phone number near/under Apply button).
We should note that all decisions about credit limit are made by bank only. The height of credit limit is mostly depends on credit score and your income. Though you need quite a low credit limit so it is most probable that you will be approved for such or even higher limit. At least if you want you can ask bank for a particular credit limit, but the last who decides is the bank.
As you will be approved for a desirable credit your credit history will start. First of all to have a credit history at all you should use your card, the often you use your card the better for your score. As you use your card you should always remember that you’d better not to exceed your limit. The optimal variant is to spend only 30% of your credit limit. Always make credit payments on time, without delay or it may ruin your effort to build a good credit history. Manage your credit thoroughly from the very beginning and later you will be rewarded.

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.

User Comments about This Question


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 Credit Card. 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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There is a credit card for any credit and for any purpose. Whether you want to start building your credit from scratch or earn rewards on purchases, save on gas or travel for free, you can find a good credit card offer for that.