Lookin at getting my first credit card in my name... (Update: GOT ONE!)

[aphex]

Ive been reading over various offers/posts about credit cards and I wanted to ask your opinion...

Here's my situation:

- College Student
- Monitarily supported by scholarships and parents.
- All current credit cards are in fathers name
- My main reason for doing this is that i want to begin building credit.

The offer i recieved in the mail today is the following: (only listing pertinent info)

Citi Platinum Select (special for students only)
1) APR 10.24% (Default up to 24%)
2) Variable Rate: 5.99% + prime
3) No Annual Fee
4) Grace Period: Not less than 20 days if you pay your total new balance in full each month by the due date.

I would only use the card for small purchases that I already have enough to cover, and simply pay off the amount each month. The reason this offer stuck out to me was due to the low APR (compared to what i have been recieving). Most offers for student cards i've got range between 17-21%. Granted, Im not planning on using the APR anyway since i will be paying the bill in full each month, but its always a good thing to have.

What do you think?

UPDATE: Leaning towards Amex Blue for Students

UPDATE #2: Just got the Amex Blue for Students in the Mail... $2500 limit... Not bad i guess considering its my first card... I promise to use it wisely, so dont worry... w00h00!

 

[ElFenix]

dude you don't have a credit card yet? get on it!

 

[dabuddha]

i wouldn't get one w/o a job
trust me, i speak from experience 😱

 

[aphex]

Originally posted by: dabuddha
i wouldn't get one w/o a job
trust me, i speak from experience 😱

Im going to be going to law school (fingers-crossed) for another 3 years... Having a real job is pretty much out of the equation for now.

 

[ElFenix]

Originally posted by: aphex

Originally posted by: dabuddha
i wouldn't get one w/o a job
trust me, i speak from experience 😱

Im going to be going to law school (fingers-crossed) for another 3 years... Having a real job is pretty much out of the equation for now.

where you applying to?

 

[aphex]

Originally posted by: ElFenix

Originally posted by: aphex

Originally posted by: dabuddha
i wouldn't get one w/o a job
trust me, i speak from experience 😱

Im going to be going to law school (fingers-crossed) for another 3 years... Having a real job is pretty much out of the equation for now.

where you applying to?

As of now,

- University of Miami
- University of Florida (not really expecting to get in, but i might get lucky)
- Nova Southeastern University
- Stetson University
- Florida Coastal School of Law

🙂

 

[ElFenix]

sweet. i've applied to UT (low chance according to LSACD) and UH, need to get in a few more apps next week.

 

[Ameesh]

Hurry up and start building your credit!

 

[ryzmah]

If your confident you can pay this thing off every month, I would either wait for an offer from a card that has some benefits like cashback or airline miles or apply for such a card - you can probably find one of those with a low APR as well. If you don't need to use it everywhere, I think discover is a nice one to start with but there are lots of good cards out there - I don't deal with citi because there solicitors have woken me up too much and I'm spiteful.

 

[RossMAN]

Go for it.

Just remember that you could still be declined.

 

[aphex]

Originally posted by: RossMAN
Go for it.

Just remember that you could still be declined.

Yea, my biggest worry 🙂

Im actually lookin back at the Amex Blue for Students we looked at a few months ago...

Little bit higher APR (12.24%) but since im not planning on ever having to pay that, i dont really mind. The added protection is offers is pretty attractive since i do alot of purchasing online.

*crosses his fingers as he selects Yearly Income: 0-15,000 on his online application*

🙂

 

[RossMAN]

CitiBank > Amex Blue esp since they did away with their BVG

 

[manly]

IMO, parental support and scholarships (actual cash) are de facto income for students applying for credit cards (even though they are used to pay educational expenses). Not that it matters much; the bar is set pretty low since the banks rabidly want to ensnare college students.

 

[Dragnov]

Sign of for basic credit card. Get approved.

Charge small items that you will pay off personally AND stuff that your parents already pay.

I got my first credit card a few years back. Since my parents normally pay for most of my school stuff, I just charge those on my personal credit card now and they pay it off. No difference if they are just handing you some cash or a check.

 

[aphex]

update in original post

 

[RossMAN]

Originally posted by: aphex

UPDATE #2: Just got the Amex Blue for Students in the Mail... $2500 limit... Not bad i guess considering its my first card... I promise to use it wisely, so dont worry... w00h00!

Congrats!!!

Use it responsibly and make your payments in a timely manner then request an increase 1 year from now.

 

[aphex]

Originally posted by: RossMAN

Originally posted by: aphex

UPDATE #2: Just got the Amex Blue for Students in the Mail... $2500 limit... Not bad i guess considering its my first card... I promise to use it wisely, so dont worry... w00h00!

Congrats!!!

Use it responsibly and make your payments in a timely manner then request an increase 1 year from now.

Thanks bro... My only gripe is that the card is a pansy ass light blue, instead of the tight clear one they give to the regular card holders... oh well, ill upgrade one day 😀