I'm a Student in IL.
2006-11-20 16:35:02 · 7 answers · asked by mrsfuzzum 1 in Business & Finance ➔ Credit
they have cards especially for students, I used to work for a company that processed credit card apps over the phone.
keep applying, you will find one make sure you find out what the apr is, annual fee and possible participation fee.
if you cant get a good apr I think the highest you should go is 9% then get one for now to build your credit it may not be great but if you pay it well you can get a better one in the future.
I had bad credit then paid alot of bills off. i finally could get approved with first premier bank.
9% fixed apr, but lot of yearly fees. I am going to get a better one in a couple of years when this one looks good.
Thats how credit works!
2006-11-20 16:41:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Basically, being a student starting out credit is hard. However, they do have student credit cards. I do not suggest paying it off every month- that will not establish you a good credit score. Begin by charging 50% or less of what your available credit is and pay on it over at least a 6 mth period....paying off most of the balance. Don't immediately max it out- that will hurt your score. You can also try and get a small installment loan ( i.e personal loan ) - those are a little better b/c they are fixed rate, term and when your done, you're done- it's not a revolving account. Also if you have money in a savings account, you can borrow from your own savings as an installment loan as well- that will also help build your credit. ( just a note... cell phones and utilities do not reflect on your credit unless they go bad- you may obtain credit references from them, but some major creditors may not accept that) good luck with everything and don't come out of college with huge amounts of credit card debt, you will regret it later.
2006-11-27 07:25:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Definitely try to start with a student credit card from a major bank. If you are not accepted, apply for a credit card from a gas station or a store. However, do not carry balances on these credit cards as they typically have very high interest rates.
2006-11-21 05:45:28 · answer #3 · answered by smartcreditchoices 2 · 0⤊ 0⤋
well first build up your credit a little bit andshow them by paying a cell phone bill every month on time or anything that is going to build up your credit and after a couple months of that apply for a credit card and whoever approves you with the lowest intrest you pick it. They have to make sure your payng on something and that you are paying it on time, if not thats when intrest goes up. It's like getting free money but you have to pay it back and they need to make their money off of you to have a business and money of their own
2006-11-26 17:25:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Start with a gas station card and pay it off in full every month. You will then begin to have credit.
2006-11-20 16:38:36 · answer #5 · answered by Coriander 2 · 0⤊ 0⤋
your bank does student credit cards just ask for one they will help you good luck
2006-11-26 06:47:56 · answer #6 · answered by pattibcacl 6 · 0⤊ 0⤋
try going to http://www.creditcards.com and check out the think that has cards for students. Hopefully that helps, good luck!
2006-11-28 16:11:06 · answer #7 · answered by BTB 08/15/2009 2 · 1⤊ 0⤋