Which credit card should I apply for and why???

Question

I am a college student and I want to apply for my first crdit card.

Answer 1

Alot of who you apply with depends on your income, past credit history etc.

I would suggest going to the Bank of America online site, They have a card selector that you can use. Doing that, it will not pull a hard from your reports until you actually apply. See what offer they make to you.

Orchard Bank and HSBC also have the card selectors that make recommendations without pulling a hard from your credit reports until you actually apply.

Check with your bank or credit union to see what they can offer you.

For store cards, you might try Wal Mart or Target.

Try to stay with prime cards, do not go with cards that are packed with fees just to open them.

I would suggest being very careful with using a credit card. Do not charge for something unless you have the money set aside to pay for it. Always try to pay in full when you get your statement. Or at least pay 2 or 3 times the minimum payment and do not charge again until that balance is paid.

There is nothing wrong with having a healthy balance of credit and store cards as long as you are responsible with them. I would suggest when you are approved for a card, after you recieve it, make a small charge on it and pay in full when you recieve the statement. Then sock drawer the card for 6 or 8 months before charging again.

Doing that, by the time you are out of school, you will have an excellent credit history.

Answer 2

Unless you work full time in a secure job the last thing you need in college is a credit card. A lot of them might be doubling the monthly minimum payments. If you work at all why not use a visa debit account and build your credit with online bill paying? Make sure you pay for overdraft protection. Also, with a debit account you can get your info anytime you want and probably never have to write a check or stress balancing a checkbook. Debit accounts are also great for developing financial discipline. There's less urge to use the debit then the temptation of running up plastic.If you lose a job and have debit but no plastic you're not sweating paying it off, having them harass you, facing bankruptcy, etc. Wait until your first secure job after you graduate, or even better, until you pay off your student loan before you go for the plastic. Paying off that loan will do WONDERS for you!Good luck and peace.



Vin

Answer 3

It depends on what kind of benefits you're looking for. Since you're a student, you're a bit limited in the types that are available to you, but you should still be able to find a decent credit card that will be able to give you some form of benefits, like discounts for students when you use the card (i.e. at grocery stores, etc) or some sort of points system. I wouldn't go with a bank issued card unless it offers some sort of rewards program with your expenditures.

Here's a site that can help http://www.cardratings.com/studentcreditcards.html

Hope that helps!

Answer 4

Go to your bank and get there credit card. It is easier to deal with them than someone over the phone. Besides, they could even draft your back account if need be so you don't hurt your credit score. After having your credit card with them awhile you can easily apply for a small loan to help build your credit. If you decide to get a loan and you don't need it. Put it into a savings account and pay off the loan with that money. Remember your credit score is your life, take care of it.

Answer 5

Try applying for the Citi MtvU card or Citi Dividend Visa. It has some cool perks and also does not require a co-signer. The cash back is the killer!

Answer 6

Don't do it. It is very easy to get carried away with spending with a credit card. You may say that you will pay it all off then something comes up and you can't pay it then it builds from there.

Answer 7

Usually credit cards offered through a Credit Union will offer you the best long term rates and not just teaser rates.

Answer 8

you are a college student! - may i give you a good advise?

Don't apply for a credit card. pay everything cash and save money! Don't destroy your future with credit card debts!!!!!

If you have money you can buy it. - Otherwise don't buy it!

Answer 9

citibank master card- they are the fairest company; they have great customer protection policies developed; they watch for unusal spending and call if fraud expected; their interest rates are very competiitve.

Answer 10

I prefer Capital One

But please be careful. Watch for hidden fees.
Activation fee.
Cancellation fee
extra card fee
year to year fee
surcharges
apr
late charges
overdraft fee