Best credit card?

[BigJ]

Originally posted by: Wheatmaster
i'm a college student and i've been thinking. if i'm not working the first year in college, is there any reason to get a credit card? i think it's better to wait until after college to get a credit card.

What I would suggest is a secured credit card. Basically, it's a credit card issued to you by the bank. Whatever you give the bank as a deposit, is the limit on your credit card. This way, if for whatever reason you default on your payments, the bank can get their money via this deposit.

It functions exactly as a normal credit card. See how it's "secured," though?

If you don't have the means to pay it off, you should not get an unsecured credit card.

 

[The Green Bean]

mastercard or visa are the best. They are the two cards accpeted around the world.

 

[torpid]

Originally posted by: SouthPaW1227

Originally posted by: BigJ

Originally posted by: SouthPaW1227

Originally posted by: Qwest
Citi Dividend Platinum Select

1. You get cash back
2. If you're shopping online a lot, you can generate one-time CC #s for each purchase.

Bingo.

And the thing that makes "STUDENT" cards different is you get a low monthly credit limit and "STUDENT" attached to the card. That's a horrible stigma to give yourself. Student's are known for getting into horrible CC debt, why would you place that label on your card?

Just be sensible w/ any card with any limit and you're good. There's just no reason to get a student card when you can get the platinum select and build your credit up with that.

So a lower credit line will help students rack up more debt and be irresponsible with their credit card?

And how is having "student" a bad stigma? Do you have any proof where credit providers blacklist people with credit histories that contain a student card?

Plenty of average people are known to get into horrible debt too. That's why credit card companies can stay in business.

You moron. If you can't control spending DON'T GET A CREDIT CARD IN THE FIRST PLACE. If you CAN control spending, go ahead & get one w/ a healthy limit. In 3-4 years he won't be 18 nor a student, and he'll want a healthy amount of credit (more than like $500 for sure) and rather than getting another card, he can just bump the credit up on that one since he's been a user for awhile. Simple really.

Except that many students can't get normal lines of credit or normal cards. That's why the things exist in the first place. You moron.

 

[torpid]

Originally posted by: Krk3561

Originally posted by: BigJ

Originally posted by: SouthPaW1227

Originally posted by: BigJ

Originally posted by: SouthPaW1227

Originally posted by: Qwest
Citi Dividend Platinum Select

1. You get cash back
2. If you're shopping online a lot, you can generate one-time CC #s for each purchase.

Bingo.

And the thing that makes "STUDENT" cards different is you get a low monthly credit limit and "STUDENT" attached to the card. That's a horrible stigma to give yourself. Student's are known for getting into horrible CC debt, why would you place that label on your card?

Just be sensible w/ any card with any limit and you're good. There's just no reason to get a student card when you can get the platinum select and build your credit up with that.

So a lower credit line will help students rack up more debt and be irresponsible with their credit card?

And how is having "student" a bad stigma? Do you have any proof where credit providers blacklist people with credit histories that contain a student card?

Plenty of average people are known to get into horrible debt too. That's why credit card companies can stay in business.

You moron. If you can't control spending DON'T GET A CREDIT CARD IN THE FIRST PLACE. If you CAN control spending, go ahead & get one w/ a healthy limit. In 3-4 years he won't be 18 nor a student, and he'll want a healthy amount of credit (more than like $500 for sure) and rather than getting another card, he can just bump the credit up on that one since he's been a user for awhile. Simple really.

I'm the moron when you're the one making unfounded and erroneous claims? BTW, thanks for addressing none of the points in my post.

How many kids know exactly how they are going to react when they get that piece of plastic in their wallet? It's better to be on the safe side of things. Especially since they're a new college student. Ever hear of the term "just enough rope to hang themself with?"

As if you can't bump up the credit line on a student card.

Exactly, if you're paying on time and all that (I pay in full everytime, because I don't spend what I dont have), you can call them in ~6 months and have them raise your credit limit. Amex is very good about raising the limit if you are a good cardholder.

And seriously, what am I going to be using my card for over $500 every month? I'd actually prefer to be restricted to that so I don't get into debt.

torpid: My card doesnt say student anywhere on it.

I was just making fun of the guy who was worried about his image when it said student on the card.

 

[Wheatmaster]

i'm definitely getting a debit card. would i ever need a credit card also?

 

[BigJ]

Originally posted by: Wheatmaster
i'm definitely getting a debit card. would i ever need a credit card also?

A debit card will not help you build up credit history.

 

[SouthPaW1227]

I don't understand you guys. If you can control your spending, why not have a $5,000 limit for later on? Trust me, every time you "request a limit increase", that crap goes down on you record. And it takes A LOT of requests to get it up to anything substantial.

There's nothing "wrong" w/ a student card, but why not just get the real deal w/ a real limit. If you don't use it now, fine. If you need it, it's there.

Bottom line is if you can't control spending, don't get a CC anyway, just use cash. If you get a CC, get one w/ good benefits and gives you a healthy limit from the start so you're not requesting increases of $200 here and $300 there.

 

[bernse]

Good resource.
http://www.redflagdeals.com/deals/main.php/articles/credit2/

 

[acemcmac]

my credit automatically goes up.......................

 

[Cawchy87]

First off, thanks for all the replys! I can't belive this lasted the night.

I'll check out the citi card, but I'm not sure if it is offered in Canada.

Thanks bernse for the link! I have been a member on the forum and sold a ton of stuff on there, but never found that link. Thanks!

 

[Zoblefu]

back to the original question...

The Citi Dividend cards are great.

 

[Krk3561]

Originally posted by: SouthPaW1227
I don't understand you guys. If you can control your spending, why not have a $5,000 limit for later on? Trust me, every time you "request a limit increase", that crap goes down on you record. And it takes A LOT of requests to get it up to anything substantial.

There's nothing "wrong" w/ a student card, but why not just get the real deal w/ a real limit. If you don't use it now, fine. If you need it, it's there.

Bottom line is if you can't control spending, don't get a CC anyway, just use cash. If you get a CC, get one w/ good benefits and gives you a healthy limit from the start so you're not requesting increases of $200 here and $300 there.

Why not use a credit card? I'm not paying any extra for the things I'm buying.

A request to increase your credit line will hurt your score?

I shop at Costco so the Amex is useful (only card they take).

 

[NuroMancer]

Originally posted by: Cawchy87
First off, thanks for all the replys! I can't belive this lasted the night.

I'll check out the citi card, but I'm not sure if it is offered in Canada.

Thanks bernse for the link! I have been a member on the forum and sold a ton of stuff on there, but never found that link. Thanks!

Howdy ah!
What bank are you with up here in Canada? If you are with the royal bank your set. Go get a normal visa if you have a job, and if you don't have a job get a student visa. Both start at $1000 dollars.

Personally I got a regular visa to start, now about 1.4 years later, I am going to new york for a vacation. So I called them to see if I could get my limit upped in case I had any troubles and needed to get home. They said NP and bumbed my limit to $3500 and gave me a rewards card. Nice thing about it is you build points put there is still no anual fee.

Note: I am a student, who pays for his own education, without loans. I have never left a balance on my CC. I own my own Jeep etc. So maybe that helps

If you are with ATB just switch banks now, you are beyond help.

 

[torpid]

Originally posted by: SouthPaW1227
I don't understand you guys. If you can control your spending, why not have a $5,000 limit for later on? Trust me, every time you "request a limit increase", that crap goes down on you record. And it takes A LOT of requests to get it up to anything substantial.

There's nothing "wrong" w/ a student card, but why not just get the real deal w/ a real limit. If you don't use it now, fine. If you need it, it's there.

Bottom line is if you can't control spending, don't get a CC anyway, just use cash. If you get a CC, get one w/ good benefits and gives you a healthy limit from the start so you're not requesting increases of $200 here and $300 there.

Perhaps calling someone a moron because they don't see why the "stigma" of a student card was relevant could be part of the events that led to you not understanding them.

 

[Cawchy87]

Originally posted by: NuroMancer

Originally posted by: Cawchy87
First off, thanks for all the replys! I can't belive this lasted the night.

I'll check out the citi card, but I'm not sure if it is offered in Canada.

Thanks bernse for the link! I have been a member on the forum and sold a ton of stuff on there, but never found that link. Thanks!

Howdy ah!
What bank are you with up here in Canada? If you are with the royal bank your set. Go get a normal visa if you have a job, and if you don't have a job get a student visa. Both start at $1000 dollars.

Personally I got a regular visa to start, now about 1.4 years later, I am going to new york for a vacation. So I called them to see if I could get my limit upped in case I had any troubles and needed to get home. They said NP and bumbed my limit to $3500 and gave me a rewards card. Nice thing about it is you build points put there is still no anual fee.

Note: I am a student, who pays for his own education, without loans. I have never left a balance on my CC. I own my own Jeep etc. So maybe that helps

If you are with ATB just switch banks now, you are beyond help.

Shoot, I am at a credit union because I don't like paying bank fees . I will be paying my university next year, and have my own car as well. I have a full time job, and an interview at best buy for part time during winter. Can I still get the Royal bank card?

 

[bernse]

ATB is a fine bank, but I am closing my acct and moving everything to Presidents Choice.

 

[Dulanic]

Originally posted by: Krk3561

Originally posted by: SouthPaW1227
I don't understand you guys. If you can control your spending, why not have a $5,000 limit for later on? Trust me, every time you "request a limit increase", that crap goes down on you record. And it takes A LOT of requests to get it up to anything substantial.

There's nothing "wrong" w/ a student card, but why not just get the real deal w/ a real limit. If you don't use it now, fine. If you need it, it's there.

Bottom line is if you can't control spending, don't get a CC anyway, just use cash. If you get a CC, get one w/ good benefits and gives you a healthy limit from the start so you're not requesting increases of $200 here and $300 there.

Why not use a credit card? I'm not paying any extra for the things I'm buying.

A request to increase your credit line will hurt your score?

I shop at Costco so the Amex is useful (only card they take).

No, a request MAY hurt your score slightly. Most requests don't end up doing a inquiry, a few do. Bank of America never hit me with a inquiry. But I rarely request, most the time they do it automatically and that doesnt result in a inquiry.

 

[Dulanic]

Originally posted by: Zoblefu
back to the original question...

The Citi Dividend cards are great.

Winner, Chase Perfect Card is also a fantastic card, especially since the rewards come every month.

 

[Yossarian]

Originally posted by: SouthPaW1227
NEVER get a student card. That's like admitting you're wreckless and want bad credit.

Get a CITIBANK Dividens Mastercard

5% cashback on GAS and GROCERIES. 1% cashback on everything else. Great card

yeah baby! they just sent me a check for $135

 

[Krk3561]

Originally posted by: Dulanic

Originally posted by: Krk3561

Originally posted by: SouthPaW1227
I don't understand you guys. If you can control your spending, why not have a $5,000 limit for later on? Trust me, every time you "request a limit increase", that crap goes down on you record. And it takes A LOT of requests to get it up to anything substantial.

There's nothing "wrong" w/ a student card, but why not just get the real deal w/ a real limit. If you don't use it now, fine. If you need it, it's there.

Bottom line is if you can't control spending, don't get a CC anyway, just use cash. If you get a CC, get one w/ good benefits and gives you a healthy limit from the start so you're not requesting increases of $200 here and $300 there.

Why not use a credit card? I'm not paying any extra for the things I'm buying.

A request to increase your credit line will hurt your score?

I shop at Costco so the Amex is useful (only card they take).

No, a request MAY hurt your score slightly. Most requests don't end up doing a inquiry, a few do. Bank of America never hit me with a inquiry. But I rarely request, most the time they do it automatically and that doesnt result in a inquiry.

Can't you just ask if they're going to when you ask for an increase?

 

[Dulanic]

Originally posted by: Krk3561

Originally posted by: Dulanic

Originally posted by: Krk3561

Originally posted by: SouthPaW1227
I don't understand you guys. If you can control your spending, why not have a $5,000 limit for later on? Trust me, every time you "request a limit increase", that crap goes down on you record. And it takes A LOT of requests to get it up to anything substantial.

There's nothing "wrong" w/ a student card, but why not just get the real deal w/ a real limit. If you don't use it now, fine. If you need it, it's there.

Bottom line is if you can't control spending, don't get a CC anyway, just use cash. If you get a CC, get one w/ good benefits and gives you a healthy limit from the start so you're not requesting increases of $200 here and $300 there.

Why not use a credit card? I'm not paying any extra for the things I'm buying.

A request to increase your credit line will hurt your score?

I shop at Costco so the Amex is useful (only card they take).

No, a request MAY hurt your score slightly. Most requests don't end up doing a inquiry, a few do. Bank of America never hit me with a inquiry. But I rarely request, most the time they do it automatically and that doesnt result in a inquiry.

Can't you just ask if they're going to when you ask for an increase?

90% will say they MAY do it. Most won't, but some like Chase (the one thing I hate about them) say we might, it depends. I requested a $1500 increase, they approved me instantly for $1400, then said they need to pull my credit for the last $100, I said then just leave it, $100 doesnt matter, they said once the app goes in they cant stop the last $100. Downside is they wont tell you ahead of time how much theyll give you automatically and at what point they will do a pull.

Others like American Express will give you a pre approved amount, then do a inquiry if you ask for more. And then some like Bank of America just asked how much I want, then approved it, no inquiry. It varies alot from bank to bank. Honestly none of them NEED to do it. They can do Account Reviews which are nothing but inquires from banks you have an account with. The upside to thoose is that they don't show on your credit report (except to yourself).

 

[torpid]

Let's say you ask for an increase, and they do a credit check. When they do, they find that your credit score is significantly worse than when you first got the card. Could the bank then reduce your limit? I've always wondered about that. I've never asked for a limit, and my increases have always come as a result of being upgraded from standard to platinum type deals.

 

[Dulanic]

Originally posted by: torpid
Let's say you ask for an increase, and they do a credit check. When they do, they find that your credit score is significantly worse than when you first got the card. Could the bank then reduce your limit? I've always wondered about that. I've never asked for a limit, and my increases have always come as a result of being upgraded from standard to platinum type deals.

I doubt it would happen, most do Account Reviews every month or every few months, so they already know your credit score and history, nothing is a suprise to them most likely. Could they technically do that? Would have to read your card holder agreement, but I am sure most have the option to do that sure, but haven't seen it happen before.

 

[NuroMancer]

I think so,
I just can't remember if you have to have an RBC account to open a visa.
I don't think so, apply online

 

[zendari]

Originally posted by: SouthPaW1227
NEVER get a student card. That's like admitting you're wreckless and want bad credit.

Get a CITIBANK Dividens Mastercard

5% cashback on GAS and GROCERIES. 1% cashback on everything else. Great card

Being an upcoming sophomore in college, I tried to get this card once I heard of it. Unfortunately, I only made $8k for the summer, and a few thousand more working at school, so I didn't have to minimum income to qualify.

I settled for a Capital One Platinum, have a $1000 limit. Benefits and perks aren't that great though, does anyone know of low limit CCs that have something like a 5% cashback?

Edit: A low limit is a bad idea though. When I turned 18 I got a card with a meager $250 limit. Well it worked OK while I was at school, but once June came around, I blew half of that on gas alone and was hit with a $37 overlimit fee. They wouldn't raise the limit so I cancelled.