I'm asking which credit cards would you recommend for a college student, who sometimes has to do some spending with no cash... of course, leaving the credit card as the last resort.
But also a way to start building credit
2007-10-31 18:16:12 · 7 answers · asked by iSoul 1 in Business & Finance ➔ Personal Finance
Although I wouldn't recommend doing it this way, one way to get it done is to take out a department store credit card, only because they are generally the easiest to get. My boyfriend, on the other hand, started out with a Firestone only credit card, so that whenever his car broke down he could still find a way to get it fixed without needing the funds up front. This built up his credit and kept him rollin' as long as the payments were in on time and it was payed down quickly.
2007-10-31 18:23:06 · answer #1 · answered by krystle579 3 · 0⤊ 0⤋
I'd only recommend a credit card for someone who will pay the entire balance each month. Any other use of a credit card is causing you to go into debt, costing you money in interest you cannot afford and risking your credit rating. If you cannot afford to pay the money you owe, how can you figure that you can afford to pay the money plus the interest?
You can begin to build credit after you finish school and have a job. Join a credit union, take out a small loan and pay it back on schedule. It will cost you interest though. Or you can pay your rent and utilities on time. That will also help build a credit rating.
2007-11-01 01:22:56 · answer #2 · answered by treebird 6 · 0⤊ 0⤋
None! Credits cards are for a person who has a full time job and pay off in 30days . It is a way to start building credit but it just makes me nervous because i know so many college students get in trouble with them.
2007-11-01 01:27:34 · answer #3 · answered by nov22lagirl 4 · 0⤊ 0⤋
Here is what I would do:
Get all the 0% for 6 months credit cards you possibly can, have your parents co sign if you need to. Then transfer the balances every six months until you get out of college. In the end you should end up not having to pay any interest!
2007-11-01 01:26:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Just to note, when I applied for a student card they called my school and verified enrollment. Just to let anyone who tries to apply that isn't actually in school know...
The following is a good site to compare student cards. Plus you can apply for cards there as well!
http://whatifoundonline.ecreditdirectory...
I had was approved for my first credit card (a student cc) by Citi Cards - Visa at 13% and I still have that card even though I'm no longer a student!
2007-11-01 16:10:24 · answer #5 · answered by vinyldestiny 1 · 0⤊ 0⤋
None.
Credit cards are a form of debt. You are too young to assume debt.
You can't take on debt unless you have a means to pay it off...
I did not have my first credit card until I was 26. It had a tiny little $500 credit limit.
2007-11-01 01:21:05 · answer #6 · answered by Anonymous · 0⤊ 0⤋
NONE!! or u'll be likely to be filing bankruptcy at the ripe age of 25 like i had to.
eventually u'll need to establish credit cuz no credit is worse than bad credit. i just dont think college is the best place to do it....unless maybe someone else is in control of it and its just for the purpose of you establishing credit. otherwise u may be tempted to splurge a bit.
2007-11-01 01:24:38 · answer #7 · answered by Tara M 1 · 0⤊ 0⤋