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Question for the Money Doctors

Question submitted on Feb 9, 2012.


I am a medical student with a lack of credit history. My credit report only has my student loans for medical school and a couple of collections account (less than $400) that were paid 3-4 years ago. (Dispute with Medical Insurance about coverage). I would like to build my good credit as fast as possible. I applied for a normal credit card through Chase but I was denied. What do you suggest?


First, obtain your annual free credit reports online ( from all 3 major credit ratings bureaus to determine their validity and have them correct any inaccurate items at all agencies.

Once this is complete, you can go to a website such as where they have cards specifically for low or no credit history to try and get a starter card.  You could also check with your local bank or credit union to see what options they have available.  Once you get the card, make sure you pay the full balance every month because your cost of carrying a balance will be much more expensive than individuals with more established credit history.

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