I have a cousin who is a Senior in a very expensive far off (from his hometown) Private School and my Uncle/Auntie want to get thier son a credit card because of the all the expenses and they want him to start establishing his credit. They feel their son is reposible enough to have a credit card...he is very mature for his age, budgets his money very well, and won't do anything dumb with the credit card. He has worked a summer job every summer since he was 16, gets excellent grades and saved every penny towards to college (even when his parents are covering him). I was wondering if anyone knows of a good credit card my uncle/auntie can get for their son that would allow them to co-sign for their son. I waited until college to get my credit card and thats how i started but in mu cousin's situation co-singing would also be a possiblity.
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Credit Card Questions
- Thread starter essasin
- Start date
www.bettercreditcard.com
Get something with good cash back, like the citi dividend - 5% for supermarkets, drug stores, and gas. 1% everything else.
Get something with good cash back, like the citi dividend - 5% for supermarkets, drug stores, and gas. 1% everything else.
I looked around, got denied by lots because of no credit, even got denied by shell. Ended up with a citi card with $800 limit. I spent $600 a few times and paid it off, limit went up to $1500. Spent $1000 once or twice and paid it off and the limit went to $2000, then $3000, now $3300. Weird thing is a few months ago (when my citi card limit was $2000) I applied for a chase card and got a limit of $15,000, no interest for 9 months. So just have your aunt/uncle give him his own with a low limit and use it as much as possible and give him one of theirs to use for anything more or checks. It doesn't take much to get that credit going, just pay it off every month. I don't know my exact credit score but I know it was enough to get a 15k limit which is good enough for my non-mortage needs.
Tution, room and board needs to be paid in full prior to the first semester and I dont remember the exact amount but its around 4k. They would like to get him to start to build his credit asap. Since he has school fees they thought it would be a good way to start his credit. If they can't find an alternative way to start and build credit (so that he can get a higher starting credit limit through some type of secondary card holder or co-signing) he would just start out with a student credit card.
amdforever2
Golden Member
Many credit card companies report account performance to the credit bureau of the authorized users on the accounts.
Therefore, making him an AU on his parents accounts would give him excellent credit as soon as the accounts hit his bureau.
Therefore, making him an AU on his parents accounts would give him excellent credit as soon as the accounts hit his bureau.
If anytning he would get a student card which would allow him to charge books and some of his other student dues. Instead of splitting the cost from a card and checking account or a autorized user credit card, I just wanted to know if there are any good co-signing creid cards so we could view all the options.
and you gotta be an even bigger retard to think that you are smarter than entire universities and credit card companies. most schools don't let you in the first place, and there have been threads here or on fat wallet of ppl getting their cash back cards canceled from such abuse.
:roll:
wiredspider
Diamond Member
My school doesn't take credit cards for tuition, would be a nice cash back if they did. The parents might as well get him any CC, probably a student one like the MtvU one that gives 5pt/$1 on books and food. I don't think it's going to be all that beneficial in terms of credit for the company to see the kid charging 4k then paying it off in a month. Just get the 1-2k limit and use as needed, pay online as needed.
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