Credit Card

[p_rushing]

Re: Credit Card

You used to be able to easily get a $500 limit by just signing up for one of the cards they were always giving out free crap on campus for. Not sure how much they do that now though. Try to get one with $500-1,000 limit. Try to pay it off every month and if you can't then make a budget to pay it off within 6 months.

I use mine for almost all my purchases and pay it off at the end of the month. As long as you use it within your means, you end up making money or rewards.

PS, make sure you use all your cards every 6 months or so. You don't have to buy anything expensive just $1-2 is fine. That will keep them from closing your account for not using it.

[SuperBowlNachos]

Re: Credit Card

So would anybody here have any opinions on like a student card?

I'm a sophomore in college, and I'd really like to start building credit now. I applied for the Discover student card but it requires students to have an annual income of $15,000 (How many actually make $15,000 while in school).

I don't need a huge limit just something small to start out on.

I ended up going with a Discover card from an application I got in the mail. It's 5% cash back on gas and groceries and I think $100 cash back after spending a certain amount. I'm not sure if it's a student card, but I am a student. You could probably just put that you make $15,000 and they would approve it.

[NDAlum]

Re: Credit Card

Can't say how much I love my Chase credit card. I don't pay any fees and I get cash back rewards. Just took another $100 off my statement by applying my rewards to the outstanding balance.

If you pay off your balance each month this is no reason to not get a credit card that gives you free money.

[JODYE]

Re: Credit Card

I just switched to Chase. Best decision I ever made.

I had Bank of America and they were horrible. Killed me on fees/interest any chance they could get.

Personally, I used to be against credit cards, but it would bail me out when I was living out of state. My debit card would be shut off by Wells Fargo, because they would see out of state charges and immediately think it was stolen instead of calling me first.

I don't know how many times I would get declined because of that. So annoying.

So needless to say, old faithful CC was there to bail me out a few times on groceries. I think they are good for emergencies, but if you're relying on them as monthly income so to speak, then you better chop that thing up now.