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i'm in college and looking to establish credit and use my card for everyday buying if needed, and what are about the best providers to go through?

2006-12-06 14:38:05 · 5 answers · asked by Brandon, Brandon F 1 in Business & Finance Credit

5 answers

Look at that little table on the disclosure they send you, and check to make sure there is no annual fee, and that they provide a grace period before charging interest on your purchases. Cards that give you a low interest rate are good, and ones that give you a percentage of cash back on purchases are even better.

I have had the same CapitalOne card for years, and they have been great. They really stay on top of potential fraud and even call me to confirm purchases that seem fishy to them. They have kept my interest rate at 5.9% for years (which is really low) -ever since I called them to request that rate; can you believe it?

Whatever you do, plan to pay your entire balance before the grace period each month, if at all possible. When you are a student like I am, it's not always possible. In that case, pay as much as you can, and call them to request a lower interest rate like I did and see what they say.

2006-12-06 14:51:23 · answer #1 · answered by - 3 · 0 0

1. Make sure there is no annual fee.
2. Hopefully you will pay your bills in full each month, so just make sure there is a grace period (20-25 days after close of billing cycle) where no interest is charged if you do this. Most cards have this, but a few don't.
3. If you won't be paying in full each month, look for a low interest rate.
4. Look for cash back. Many cards offer 1% cash back on purchases, more in supermarkets, gas stations, drug stores, etc. There are numerous cards with different offers, so find what works best for you.

2006-12-06 18:18:31 · answer #2 · answered by Alan S 6 · 0 0

Try to find one with a low interest rate, they will kill you if you get carried away with the spending. You can get rewards cards with higher than average interest rates, or regular cards with slightly better interest rates. You can also get annual fee cards with lower interest rates and no rewards or an annual fee rewards card with a high interest rate. It all depends on if you will be carrying a balance on the card and if it actually benefits you to obtain rewards. Talk to your bank and see what they have first. You can also apply online to most major companies like american express, capital one, visa and many others.

2006-12-06 14:46:42 · answer #3 · answered by devast725 3 · 0 0

Avoid the ones that charge annual fees. Avoid the ones that require advance payments as collateral. Check the small print for penalty clause rates.

2006-12-06 14:46:29 · answer #4 · answered by Eyebee 3 · 0 0

low interest rate

2006-12-06 14:42:16 · answer #5 · answered by joel 1 · 0 0

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