Doug5150

Yep.
And you may not even be allowed to get a checking account, if you have no credit history and don't want to have anyone co-sign for the account.

A secured card is likely the only way you can do this from zero, and without anyone else's signature.

I do very-much agree that credit unions are generally better than banks, and getting a secured card from someplace local to you is much better than doing it through the mail. I've seen mail offers that want you to post nearly $300 for a $125-limit card, and the rest of the card details was just as ugly.

Another factoid to be aware of is that (once you have acquired a non-secured credit card) local banks and credit unions tend not to be as aggressive in reporting late payments (if you call and say the payment will be a day or two late, they may let that slide) but they they will also tend to not raise your credit limit as fast as national companies will, and may not raise it at all unless you get a job with more income..... Once you start getting card offers in the mail from big issuers, pick ONE, apply for it, and once you get it, switch to using that and just pay off the local bank card.

Do not apply for more than one credit card in any 2-month period, because such requests get noted on your credit record for 30 days, and if you are suddenly applying for lots of credit cards all at once it looks suspicions. Each company that you apply to will be able to see all the other requests from the last 30 days, and they'll be less and less likely to approve the application.
~

Boudicca

Same thing happened to me when I moved to the States, and when I moved to Canada. I had credit ratings in Europe, but none in North America, so the banks gave me this ridiculous line about putting $5k in an escrow account, and getting a credit card with a $5k limit. I just flipped: "You mean you want me to put my money in an account that I can't use, so you can give me a credit card with a limit of what you already have in my money?"

I ended up talking to two banks, and the second one looked at my work history, and gave me a gold card, no questions asked. So I went back to bank No. 1, and told them I was closing my account, and they suddenly got all friendly, and the manager asked to talk. I told him that I had asked repeatedly for a credit card, and it was denied, so I had shifted my account. I had just moved something like $300k through that account to buy a house in Toronto, and it was his turn to flip/grovel. "Let me know if there's anything we can ever do for you," were his words as I left.

Many years later I saw the emailed note to bank no.2 telling them my request had been denied, and a hand-written rider, saying that I could get the card because of my "good potential."

So my advice is ask to see the manager and politely point out that you have no problem about changing banks, and what is he/she going to do about it.

Newspaperguy

If one bank won't let you have a chequing account, try another bank, possibly the same one where you have a savings account. You've already built up a relationship with the bank where you keep your money so I don't see why you should have any problems opening another account. It's only a chequing account; it's not as if you're attempting to borrow millions.

And even if you were attempting to borrow money, your financial habits wouldn't necessarily work against you. A few months ago, I went to the credit union to ask about a loan. They were most interested in my income, assets and any debts I might have. They didn't ask anything about money I've borrowed in the past and they didn't run any other checks on me. They went through the approval process when I was in the room with them.

(By way of a disclaimer, I'm in Canada and our financial practices here may be a little different than yours, but you still would have nothing to lose by shopping around.)

Cosmoline

You're better off with no credit cards at all. They're a losers game anyway. So are checking accounts for that matter. Cash is king, and if you have excess it should make *YOU* money with investments, not the bank money with absurd fees and fees upon fees.

Newspaperguy

I agree with you on the credit cards but not on the chequing accounts. When you write cheques, you're not going into debt or amassing huge service fees unless you're doing something stupid like writing cheques your account can't handle. Overdraft fees or NSF cheque fees will hit, but other chequing fees are not any worse than transaction fees for other accounts.

Boudicca

You ever tried traveling without credit cards? You can't reserve a hotel, you have problems buying a plane ticket, you can't prebook theater or concert.

Like 'em or hate 'em, credit cards are worth having. The key thing is never, ever, ever to run a balance.

Artkansas 

Yep. Its considered suspicious activity to buy a plane ticket with money.

ChiapasFixed

the way they make money is by charging you interests and late fees. a person who pays on time is of no interest to loansharks. thy like people who are ALWAYS late, but ALWAYS pay, through the nose!