[redranger]

I guess this is kind of a request thread, if you will.

So I'm a credit card newbie. My mom's been bugging me to get one ever since I've turned 18 (she wants me to build good credit? I don't even know what this means...) so I've finally gotten around to it. I've been trying to research online but the possibilities are john teshing endless.

I know some credit cards function on what you do most with it? I don't know if that makes sense. I'm a college student, I drive a lot (use a lot of gas), I shop a lot, play sports, don't know what else might be important.

What do I look at? What's a good first card? What's a good card for college students? If you like yours, please explain. (:

Basically anything that might help find a good card for me, please share!

[kimbomynizzo]

hi. If you have family in the US Military, you can easily apply for a Visa card from Navy Federal. Its probably the most recession proof Credit Card company out there, well because, its the US military thats why haha.

If you dont, I highly recommend Capitolone to start building good credit. If you have no credit history or starting out, then consider Capitolone as your building block. They most likely wont throw you a big initial credit limit of anything over $1,000 if you are just a college student bumming off loans and your parents, but its a good thing to have a limited card to start off with so you dont go spending like an irresponsible brat. Capitolone was my first card right out of highschool and my initial limit was $800. I am now 21 and my limit has been increased to $5,000 since I have a job and entering the military.

You can refer to my creditcard thread to get some insight from other soompiers who use plastic gold to get around.

http://www.soompi.com/forums/index.php?showtopic=285932

goodluck!

[chewy130]

I got a question. i recently made a credit card but my mom also has her "name" on it. Do i still get a credit score because of this?

[xstarBURST]

if it's connected to her's then it's her credit and not yours

[sylphid97]

I was wondering... I have a couple credit cards that I have not used in years. One was a care credit to help pay vet bills, but I haven't used it in 5 years or so. The other one is when I worked at Bloomingdale's, opening a credit account was one of the choices for the employee discount. I haven't used that in 3 years since I stopped working there.

If I cancel these cards, which I never plan to use again, will it drop my score?

If I don't cancel these cards and there's no activity will it hurt my score?

Should I cancel or keep them open?

I happy with my other 2 credit cards: Chase & Paypal

[jsp]

I was wondering... I have a couple credit cards that I have not used in years. One was a care credit to help pay vet bills, but I haven't used it in 5 years or so. The other one is when I worked at Bloomingdale's, opening a credit account was one of the choices for the employee discount. I haven't used that in 3 years since I stopped working there.

If I cancel these cards, which I never plan to use again, will it drop my score?

If I don't cancel these cards and there's no activity will it hurt my score?

Should I cancel or keep them open?

I happy with my other 2 credit cards: Chase & Paypal

Never cancel your first card. Your credit score depends on how long you've had credit.

[* veenee]

i heard some credit cards can get you points and points = prizes and money. but i learned not to use the credit card unless needed, because often machines will subtract more than you paid for, and by that time the bill comes, its too late. i also learned that if you use credit cards on vacation, the bank will take a low currency exchange rate, its so ripped off.

[slimjim]

Get a credit card with a person with established credit if you can -- such as your parents. You'll be an authorized user. The credit benefit you get from that will be discounted, but better than none at all. In the meantime, shop for your own credit card, and avoid ones with annual fees if you can. Interest rates don't matter as long as you plan to pay off the balances every statement, which you should.

[grainsofrain]

I have the Chase Freedom and when I use it, I get like a very small percentage of my purchases.

I also have 2 other credit cards (Citi mTVu & Bank of America Rewards Platinum) which my mom pays for.. like if I buy something that she's paying for, but all of my credit cards are the rewards kind where I get points/cash for using it : ). For my sister's first credit card, I got her the Bank of America Visa Signature which is also an awards card.

The kind I recommend are the rewards kind with no annual fees or anything like that, simple and easy. You get rewards for using your card and you build credit!!

What I try to do is use only 7% of my credit limit each month and I always pay off the entire balance so that I will not get charged interest.

[LennyRin]

from personal experience.. i recommend getting your first card with your bank.. esp. if youre just a student.. they dont hack on tons of interest and usually set you up with something you can work with.. after i did that i got another card with capitol one but that one sucked butt.. therefore i canceled it.. my credit is still good =] but idk.. i guess it depends what bank you have too.. but either way.. gluck =]

[visuelz]

I honestly don't think you should get a credit card, if you're fiscally irresponsible. You may end up buying so many things and cannot pay it all off. Remember, minimum payments will never get you out of debt.

[AngieK]

^ Nowadays everything you do in the future will be based off credit. Buying a car, house, etc. In order to get good credit you need a credit card so telling her not to get one ever seems like bad advice. (Though I could be wrong. Is there another way to build up credit?)

In any case the easiest, and safest, way I've found to build up credit is to use your credit card for one thing one: gas. Swipe it every time you gas your card and pay it ALL off when your bill is due. This way you don't have to worry about 'overspending' since gas is something you normally pay for anyway. Just be sure to exercise self control. Tell yourself that your card is only for gas so you don't end up swiping for things you don't need.

[x0ny]

I got a Capital one last year. It's good in my opinion for a starting credit card. Just keep in mind that a credit card, no matter how much limit you got, it all depends on your self discipline whether you use it wisely or not. Keep everything precise and strict; don't just say oh, I can just pay the min and pay off the rest next pay check. The moment you do that, you'll get into a habit and it'll go downhill from there. Responsibility is the key.

[HSuke]

You should consider get a reliable card without rewards or frills. It'll be good for establishing discipline. Getting cash back or bonuses will only encourage you to spend more.

[strawberrii chuuu]

i applied for a credit card but i got rejected.
they said there isn't enough credit history.
i'm so confused why that happened.
ugh.

i need a credit card

[akira53]

i applied for a credit card but i got rejected.
they said there isn't enough credit history.
i'm so confused why that happened.
ugh.

i need a credit card

yeah same here. I applied at my bank and I got rejected because I have no credit

[1lasthope]

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[evolution_]

^

I had a friend who went through the same thing. She applied at her bank and got rejected because she had no credit to begin with. I think in the end she actually went to the bank to make an appointment to speak to someone about the issue and now she has one.

For me, I started off have a credit card that was linked to my mom's credit but it had my name on it. I had that for a few years to help. I found that it also helped me limit my spending because my mom was the one getting the bill, not me.

I got my own card from my bank a few years ago and my mom is always telling me to use it more to build up credit haha.

As someone else said, I think going to your bank is good. If you do online banking, it might be easier to pay your bills as well if you're card is from the same bank lol.

[perfectinvasions]

^ I have the same thing right now. My credit card is linked to my mom's credit. We still get credit for that right?

Maybe you can try an amazon card?

[Hax]

^ I have the same thing right now. My credit card is linked to my mom's credit. We still get credit for that right?

Maybe you can try an amazon card?

if it's connected to her's then it's her credit and not yours

If your card is linked to your mom's card as in that you are an authorized user, it will build your credit. You can also have your name on the card as the primary owner, and that should build your credit faster.

I have been an authorized user for most of my credit history. My FICO score is 800+.