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First Time Credit Card For College Student

Brandy Said:

Credit card for college student?

We Answered:

Hi -

Since you're a college student, have you tried looking into credit cards designed for college students only? A lot of big banks like Citi, Bank of America, etc offer great credit cards for students.

I did a quick search for you online on the MTVU card because this seems to be a big card among the students. Good luck with your search!

Jeffrey Said:

What is the best credit card for a first time user?

We Answered:

none. don't get one. if you have a good job then save your money. don't like this answer do you? that's because it's the truth. good luck.

Delores Said:

What is the average APR for a first time credit card for a 20 year old college student?

We Answered:

I would expect the first time rate to be over 20 percent, but it should not affect you. Basically, you should almost always pay the full balance every month, especially since you are young and still establishing credit. If you fail to do that, your credit rating will be hurt, and you will have a harder time getting a loan when you need one for a car, or someday for a house.

So, do not go into the credit card game with the assumption that you will be paying any interest at all. If you pay on time and in full every month--at least for a couple of years--your credit will grow into the good-to-excellent range. Then, if you make a big purchase and need to spread your payments out, it will not be a problem.

BTW, keep in mind that your credit is hurt if you exceed 30 percent of your credit limit, even if you pay it off at the end of the month. I know that's weird, but that's how the scoring works. If you have a $6,000 maximum on your card, try not to exceed $2,000 in charges. Emergencies may happen, but don't do it for regular expenses.

Good luck, and I hope this helps.

Everett Said:

First time renting with credit score of 592, college student, Help!!!?

We Answered:

It depends on the apartment complex's requirements. At mine, they don't look at the credit score, it just has to be 50% favorable. You also have to make 3 times the rent a month. SInce this is the first time you are renting, you may have to have a co-signer, like your parents for example. You're doing good by having money saved up for rent, deposit and bills. Just check with the apartment office and see what their requirements are. Good luck!

Regina Said:

What should I look for when applying for a credit card for the first time as a 19 year old college student?

We Answered:

visit dave ramsey.com to learn about the snakes u will have sucking ur blood.
no seriously. save up an 'emergency' cash funds for real emergencies not perceived emergencies.
understand most (up to 85% ) of college grads come out with an extra 10-20K$ in credit card debt at up to 32%.
pay cash and save ur future 10000S$.

Paula Said:

What is the best first time credit card for international travel?

We Answered:

You can try at your local bank, they usually offer credit cards. But since this is your first one you might have a little trouble getting approved. I would recommend a Secured Card. It means if you want a $500 credit line, you give them a $500 check and so on. This will secured the debt and you use it just like a regular credit card and in about 6-12 month you can apply for a regular credit card.

Discuss It!

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