If I am 19, have never had a credit card before, have never been in debt, don't really have a credit record (I presume), am planning to pay off my balance every month, and am planning to use it for online purchases?
How can I compare interest rates, etc? What are some good questions to ask when getting a credit card?
2006-11-12 09:23:24 · 9 answers · asked by Jellystar 2 in Business & Finance ➔ Credit
First, I'd suggest going to one of the credit bureaus websites and ordering a credit score. This will let you know where you stand as far as credit rating, which affects the interest rates available to you. It might be difficult not having much of a credit history to get an unsecured card, so I'd recommend finding a financial institution that offers a secured card. You secure the card by giving the bank money equal to the credit limit you want. They hold it for you in "escrow" so if you don't pay your bills, they withdraw the amount you didn't pay.
Interest rate doesn't really matter if you pay off your balance each month, but its very easy to carry a balance and I speak from experience. You can shop for credit cards at sites like bankrate.com and cardweb.com. Good luck!
2006-11-12 09:31:47 · answer #1 · answered by personalfinancedaily 3 · 0⤊ 0⤋
If you will pay off the card every month, you won't pay interest, so the rate doesn't matter. You should get a card with no annual fee. If you have trouble getting a 'student' card, try a secured card. Secured cards have a limit based on a savings account they can take if you default. If you maintain a good record for a year or two, you can convert the account to unsecured.
2006-11-12 12:10:40 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
You may have a hard time getting one -that is always a problem for people who have no credit hx at all.
For your situation, I would recommend a debit card - would work just as good for making online purchases. get it from a bank.
2006-11-12 09:30:29 · answer #3 · answered by zaeli22 3 · 0⤊ 0⤋
none!
everthing you want to do can be done with a fully funded debit card except get sold into slavery. life can be lived without a 'I love debt score'. ask real millionaires how they got there.
When dealing with snakes you will get bite repeatedly.
visit daveramsey.com to learn what the bankers pray you never learn.
the good intentions you have about paying off the balance every month is a fairy dream.
my clients have had checks held 10 15 days from reciept before deposited into their accounts only to get late charges and overlimit charges. even had one who sent check signature return priority mail 15 days before due date to have to check deposited two days after due date.
You will get the shaft sooner than later.
2006-11-12 09:37:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You try getting a student credit card, or low interest credit card.
I found this website to be helpful: http://www.greenlightcreditcards.com
2006-11-13 21:23:45 · answer #5 · answered by elija j 1 · 0⤊ 0⤋
if you dont have any credit it might be difficult to get one.go to the bank and ask if they offer a "student credit card".I know US Bank does.They don't really care if you have any credit history of how much money you make.
2006-11-12 10:10:53 · answer #6 · answered by miraclev2001 2 · 0⤊ 0⤋
Go here to compare creditcards,
http://www.bestcreditrates.net
good questions to ask whats the limit on the card
2006-11-13 14:53:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Here is a link to help you determine which card is better for you.
2006-11-12 13:31:00 · answer #8 · answered by Mariposa 7 · 0⤊ 0⤋
I think you should get a GOLDEN ONE just because my big sis has one and its worked out great so far...
2006-11-12 09:32:24 · answer #9 · answered by ♥Meℓody 2 · 0⤊ 0⤋