gettin a credit card?

Question

am currently a college student and thinking about gettin a credit card...what do i need to know like interest rate and stuff inorder to get the right one

Answer 1

Credit cards are an important means of establishing credit history. Using them responsibly, controlling your spending habits and not misusing them will always help the cause. Here are few things to keep in mind before you apply for a credit card.

It is always better to use a credit card which is issued in your name. The simple reason being, it helps establish credit history for you. Use the correct identity, and get credit card issued for proper name, social security number, and address.

Decide what type of credit card you need and don't get impulsive about obtaining it. Have patience and compare various offers that suit your choice.

The APR of credit card is a very important point not to be missed by any credit card owner. There are various types of APRs, like the 0 intro APR, regular APR, APR for cash advances, APR for purchases, APR for balance transfer etc. These APR contro what interest you pay on your credit card outstanding balances. Get compelte idea about the APRs that will affect you during your credit card ownership.

If you are getting a reward credit card, make sure you know how the rewards will be redeemed and using the credit card at what locations or merchants will help you get the maximum reward benefits. Another thing to watch out is the limitations to the reward program. Check carefully about what limits the rewards like minimum reward points, blackout dates, redemption locations, choice of airlines etc. Read more form: http://www.credit-card-gallery.com/article/342,7_essential_things_to_watch_before_you_apply_for_a_credit_card

Answer 2

Interest rate means something, but they often go up... credit card companies have the ability to change them frequently (and this is a unilateral decision--you don't get input or the ability to fight it).

You can likely dodge any "annual fee" cards -- plan on that. No reason to pay for something they give away in masses to anyone who has a pulse.

Go ahead & decide what you need this card for. There are plenty of people in life with $20k in debt when they graduate and little hope in getting out of it (let alone the credit score to get a house, apartment, car, etc at a fair interest rate).

Don't let a card control you. Good luck !!

Answer 3

Don't do it. You will regret it when one day you wake up and are having a difficult time getting a job after college and the credit card bill is due.

And to get one just to build credit is as bad of a reason as any. Having bad credit from late payments or no payments is much worse than having no credit history.

Trust me, I've been there when I was in college. It took me 10 years to clean up all of the money I borrowed in college and I had nothing to show for 90% of the money I borrowed.

Answer 4

Look for one without an annual fee. A low interest rate would be good but if you only charge what you can afford to pay for in full each month, the interest rate won't really matter.

The most important thing to remember is to always pay it on time and don't run up a big balance.

A low credit score will haunt you for the rest of your life and affect future employment, car insurance cost, etc.

Answer 5

well you'll prolly have a high apr knowing your a young college student with probably no credit...but credit cards build credit...so pay your bill on time and dont go over the limit

Answer 6

I found interesting information about your answer Here:
credit cards:
http://all-debt-consolidation-loan.blogspot.com/2007/07/chase-credit-cards.html
Good Luck!

Answer 7

Check the interest rates and the annual fees before selecting one. From http://cc9.info

Answer 8

just get them with a low APR i have lots a cash in saving "high yeild and 10k in debt, however all of that debt is at a 0 percent APR so i am making money. Play that game.

Answer 9

My advice to you is don't get one. They are more trouble than what they are worth.