credit card for student

[destrekor]

whats the best way to get a credit card, and what company is likely going to be the best in terms of overal APR after introductory period? i'd like to have a credit card during college so I can build up credit, as to not have no credit when I graduate. i have a debit card now and make regular use of it as if it were a credit card, but that doesn't get my credit. and it doesn't teach me monthly payments.

 

[Journer]

i started off with citicards platinum select for students...apr was like 19%...but what do u expect w/ no credit... 5% cash back on gas, grocery, pharmacy....1% on alll others 😛

 

[ric1287]

well technically you wouldnt want to make monthly payments on a credit card, ideally you want to use it only for the actual cash you have...but in any case, i started with the Citi Dividend. Made about 120$ back in rewards and went from a 1200$ limit to 4700$ now. Also got the discover card with no apr for 6months. So just look around for the best reward cards and ones with low intro-APR. Also make sure to apply for "college friendly" ones which are easier to get approved for.

 

[sao123]

MBNA and Chase were the best student cards when I was in college.

 

[SirChadwick]

Just go by your bank and ask about student CC's. They will usually set you up w/ something decent, although the APR won't be quite as low as if you had better credit history. Just pay it off monthly or use sparingly.

 

[tRaptor]

Wells Fargo Student Visa. Interest rate is not great, but like everyone else said, thats what you get. I like it cause its the same place I bank so I do everything online, dont get anything mailed to me.

 

[acemcmac]

Originally posted by: SirChadwick
Just go by your bank and ask about student CC's. They will usually set you up w/ something decent, although the APR won't be quite as low as if you had better credit history. Just pay it off monthly or use sparingly.

Exactly. In 6-18 months, then turn around and apply for the Citi Dividend Platinum card.

Remember OP, the trick to CC's is to PAY THEM OFF EACH MONTH IN FULL. You will get owned fast if you fall down on the job at this... Do not screw this up!

 

[destrekor]

Originally posted by: acemcmac

Originally posted by: SirChadwick
Just go by your bank and ask about student CC's. They will usually set you up w/ something decent, although the APR won't be quite as low as if you had better credit history. Just pay it off monthly or use sparingly.

Exactly. In 6-18 months, then turn around and apply for the Citi Dividend Platinum card.

Remember OP, the trick to CC's is to PAY THEM OFF EACH MONTH IN FULL. You will get owned fast if you fall down on the job at this... Do not screw this up!

in full? everyone has been telling me that paying off the debt in full each time you buy something won't build up credit, rather making the minimum payments will. on the smaller things yea, paying full would be better, but like a $600 item, you wouldn't wanna pay all $600 the next month after the bill comes, would ya?

 

[iRONic]

Originally posted by: destrekor

Originally posted by: acemcmac

Originally posted by: SirChadwick
Just go by your bank and ask about student CC's. They will usually set you up w/ something decent, although the APR won't be quite as low as if you had better credit history. Just pay it off monthly or use sparingly.

Exactly. In 6-18 months, then turn around and apply for the Citi Dividend Platinum card.

Remember OP, the trick to CC's is to PAY THEM OFF EACH MONTH IN FULL. You will get owned fast if you fall down on the job at this... Do not screw this up!

in full? everyone has been telling me that paying off the debt in full each time you buy something won't build up credit, rather making the minimum payments will. on the smaller things yea, paying full would be better, but like a $600 item, you wouldn't wanna pay all $600 the next month after the bill comes, would ya?

Uh, the idea is to build credit not debt.

Purchase only what you can afford to pay off in full each month.

 

[dullard]

Originally posted by: destrekor
in full? everyone has been telling me that paying off the debt in full each time you buy something won't build up credit, rather making the minimum payments will. on the smaller things yea, paying full would be better, but like a $600 item, you wouldn't wanna pay all $600 the next month after the bill comes, would ya?

False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False. False.

Oh, and FALSE!

You want to pay it off, in full, each and every month, no matter how much you charge. That way you'll build credit just as fast as the suckers who don't pay it off. And you'll be sitting back with lots of money watching those suckers bend over and take the high credit card interest rates in the rear.

The companies that determine your credit score DO NOT KNOW OR CARE how much you pay each month. All they care about is wheter you paid it on time.

 

[dullard]

To answer your original question, the best way to get a credit card is to get a student credit card. You'll see tons of fliers/booths all around campus. You'll almost never get turned down. And since you'll follow my advice above, you'll never pay a penny in interest so APR and other terms like that don't matter. In a sense, all credit cards become virtually identical then. Sure, some will vary slightly in annual fee (don't get a card that charges one) or cash back (if you can, get one with cash back because free money is a good thing).

And then, use your credit card just like a debit card. If there isn't money in the bank, you don't buy the item.

When you get accustomed to using a credit card and paying in full each month, tear up your debit cards. Debit cards are horrible compared to a properly used credit card.

 

[TraumaRN]

Originally posted by: dullard
To answer your original question, the best way to get a credit card is to get a student credit card. You'll see tons of fliers/booths all around campus. You'll almost never get turned down. And since you'll follow my advice above, you'll never pay a penny in interest so APR and other terms like that don't matter. In a sense, all credit cards become virtually identical then. Sure, some will vary slightly in annual fee (don't get a card that charges one) or cash back (if you can, get one with cash back because free money is a good thing).

And then, use your credit card just like a debit card. If there isn't money in the bank, you don't buy the item.

When you get accustomed to using a credit card and paying in full each month, tear up your debit cards. Debit cards are horrible compared to a properly used credit card.

Bahhhhh debit cards are NOT that horrible. My debit card is my first line for buying things, CC comes second and if something is charged to CC it is paid off that month or the next month.

But keep in mind like others have said dont use a CC unless you have money in the bank. And dont say I have 600 in the bank so I can charge 600 to my CC thats dumb dumb dumb.

 

[Brainonska511]

I originally signed up for a Citibank Dividend card (not for students version) and was rejected on that one. I then signed up for the college student one and was approved for it.

The only thing to do is make sure you pay off the bill every month. Never leave a balance. The interest rates on CCs make borrowing money from a loan shark sound appealing.

 

[destrekor]

Originally posted by: dullard
To answer your original question, the best way to get a credit card is to get a student credit card. You'll see tons of fliers/booths all around campus. You'll almost never get turned down. And since you'll follow my advice above, you'll never pay a penny in interest so APR and other terms like that don't matter. In a sense, all credit cards become virtually identical then. Sure, some will vary slightly in annual fee (don't get a card that charges one) or cash back (if you can, get one with cash back because free money is a good thing).

And then, use your credit card just like a debit card. If there isn't money in the bank, you don't buy the item.

When you get accustomed to using a credit card and paying in full each month, tear up your debit cards. Debit cards are horrible compared to a properly used credit card.

thanks for the good advice 🙂

 

[Brainonska511]

Originally posted by: DeathBUA
Bahhhhh debit cards are NOT that horrible. My debit card is my first line for buying things, CC comes second and if something is charged to CC it is paid off that month or the next month.

I wouldn't recommend using a debit card for most purchases, especially through the internet. If you have a problem, the credit card has much more protections than a debit card could ever have. Plus, with the CC, you pay the money, it doesn't come right out of your checking account when you make a purchase. That way, when you have a problem (since you also still have the money in your bank when you use a CC), it becomes much easier to solve.

And to the OP, if anyone tells you to only pay the minimum to build credit, smack them in the face for their stupidity.

 

[dullard]

Originally posted by: DeathBUA
Bahhhhh debit cards are NOT that horrible. My debit card is my first line for buying things, CC comes second and if something is charged to CC it is paid off that month or the next month.

But keep in mind like others have said dont use a CC unless you have money in the bank. And dont say I have 600 in the bank so I can charge 600 to my CC thats dumb dumb dumb.

There is not one single advantage of a debit card over a properly used CC. Not one. Since you appear to use your CC properly, why not switch the order on your list?
[*]CC protections are as good as if not far better than debit card protections.
[*]CC rewards are as good as if not far better than debit card rewards.
[*]CC gives you 2-6 weeks before the charge hits your bank account, so if your account has interest you get 2-6 weeks of free interest on everything.
[*]CC use builds credit, debit card use does not.

No, debit cards are not the devil, but they don't offer any advantages. Not even one teeny-tiny small advantage.

 

[TraumaRN]

Originally posted by: dullard

Originally posted by: DeathBUA
Bahhhhh debit cards are NOT that horrible. My debit card is my first line for buying things, CC comes second and if something is charged to CC it is paid off that month or the next month.

But keep in mind like others have said dont use a CC unless you have money in the bank. And dont say I have 600 in the bank so I can charge 600 to my CC thats dumb dumb dumb.

There is not one single advantage of a debit card over a properly used CC. Not one. Since you appear to use your CC properly, why not switch the order on your list?
[*]CC protections are as good as if not far better than debit card protections.
[*]CC rewards are as good as if not far better than debit card rewards.
[*]CC gives you 2-6 weeks before the charge hits your bank account, so if your account has interest you get 2-6 weeks of free interest on everything.
[*]CC use builds credit, debit card use does not.

No, debit cards are not the devil, but they don't offer any advantages. Not even one teeny-tiny small advantage.

I dont like using my CC all the time is why I still prefer my debit. My credit union has free online banking and 99% of places allow me to use my debit card like a CC which means I usually have at least a day to move the money. While my one and only CC has a good interest rate for a young guy like me at 10.99%(still my first CC only had it for about 1.5 years) I still feel better with my debit card if only because I know the money is already there. On top of that my mom works at the credit union where my debit card and CC are from she's the CEO in fact and it's rare to see her use a CC she always uses the debit which is what I've grown used to.

I guess it's habit mixed with the idea of knowing that something is paid off right away instead of having to wait until the bill comes.

EDIT: Which is probably why the only debt I have right now is my car loan which will be paid off by spring anyways.

 

[amdforever2]

You can pay in full or pay the minimum, either way builds credit.

Unfortunately, I don't think the Dividend Student card will approve with a blank file. See if your parents can make you an authorized user on some of their accounts.

 

[Brainonska511]

Originally posted by: amdforever2
You can pay in full or pay the minimum, either way builds credit.

Unfortunately, I don't think the Dividend Student card will approve with a blank file. See if your parents can make you an authorized user on some of their accounts.

I got one with a blank slate.

 

[Nab]

Originally posted by: Journer
i started off with citicards platinum select for students...apr was like 19%...but what do u expect w/ no credit... 5% cash back on gas, grocery, pharmacy....1% on alll others 😛

hey i got the exact same thing!

 

[kranky]

It's almost a certainty you can get a student credit card. To increase your chances, make sure you have a checking and a savings account somewhere.

 

[amdforever2]

Originally posted by: Brainonska511

Originally posted by: amdforever2
You can pay in full or pay the minimum, either way builds credit.

Unfortunately, I don't think the Dividend Student card will approve with a blank file. See if your parents can make you an authorized user on some of their accounts.

I got one with a blank slate.

Truly blank?

Not an authorized user on anything, nothing like that?


Hmmmm.............. Just had a friend with blank file get denied. Maybe it uses some other underwriting method.

 

[Brainonska511]

Originally posted by: amdforever2

Originally posted by: Brainonska511

Originally posted by: amdforever2
You can pay in full or pay the minimum, either way builds credit.

Unfortunately, I don't think the Dividend Student card will approve with a blank file. See if your parents can make you an authorized user on some of their accounts.

I got one with a blank slate.

Truly blank?

Not an authorized user on anything, nothing like that?


Hmmmm.............. Just had a friend with blank file get denied. Maybe it uses some other underwriting method.

I have a checking and savings account, but nothing else. Just filled out the online app. for the Citibank Dividend for College Students and a week or two later got a card in the mail.

 

[zerocool1]

Originally posted by: acemcmac

Remember OP, the trick to CC's is to PAY THEM OFF EACH MONTH IN FULL. You will get owned fast if you fall down on the job at this... Do not screw this up!

QFT or you get slammed by the APR.

 

[imported_Imp]

Originally posted by: destrekor

Originally posted by: acemcmac

Originally posted by: SirChadwick
Just go by your bank and ask about student CC's. They will usually set you up w/ something decent, although the APR won't be quite as low as if you had better credit history. Just pay it off monthly or use sparingly.

Exactly. In 6-18 months, then turn around and apply for the Citi Dividend Platinum card.

Remember OP, the trick to CC's is to PAY THEM OFF EACH MONTH IN FULL. You will get owned fast if you fall down on the job at this... Do not screw this up!

in full? everyone has been telling me that paying off the debt in full each time you buy something won't build up credit, rather making the minimum payments will. on the smaller things yea, paying full would be better, but like a $600 item, you wouldn't wanna pay all $600 the next month after the bill comes, would ya?

I died a bit when I read that.