Best first credit card for students?

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6 posts
cc23
 
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Joined: Mon Jan 24, 2011 11:32 pm
Location: USA

Best first credit card for students?

Postby cc23 » Mon Jan 24, 2011 11:47 pm

I could have a credit card without a limit, and keep a limit, but just for my own sake, I want something with like a $300 monthly limit. Rewards if possible, but not a big deal just wanna start building my credit.

I'll be a student in the fall so I don't know if that changes anything.

Also, on a side note. Just for kicks, what's the best credit card out there? A friend and I were talking the other day how back in the day Visa "black card" was the big thing, everyone wanted one. Is it still the top card? If not, what is the top card? Thanks for the help!


dmband
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Postby dmband » Tue Jan 25, 2011 2:41 am

I applied for a citi card that was specifically a student card they just wanted a copy of my college ID. I believe it's pretty hard to get denied for one too assuming it's for students. THANKS!

cc23
 
Posts: 2
Joined: Mon Jan 24, 2011 11:32 pm
Location: USA

Postby cc23 » Tue Jan 25, 2011 11:13 am

thank you, I'll look into it. I was also told about a Wells Fargo one.

any answer on my 2nd question?

dmband
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Postby dmband » Tue Jan 25, 2011 11:20 pm

Not sure about the best card out there I don't really look at anything I can't get or don't need but I do remember the American Express black card was pretty awesome to have but I think you need to put 100k on it minimum each year.

mag48
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Postby mag48 » Sat Jan 29, 2011 4:22 am

I have found it to be very tough when I had NO credit. I was declined for both the Chase and Citi credit cards for students first. Then I waited 4-5 months and tried one more time with Capital One Venture Student Rewards card and was instantly approved. I get one percent cash back all the time and 1.25 when I pay my bill on time. I have a decent job for being 18, but if you want to avoid multiple hard pulls you may want to try them for your first credit card.

ashleyAMX
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Postby ashleyAMX » Sun Jan 30, 2011 2:29 pm

I would say from experience, the easiest to get approved for is Capital One. I started with just a basic Capital One platinum card with a low spending limit. After I paid on time for a few months they sent me a letter saying they'd increase the spending limit. One thing you definitely want to keep in mind is your CUR (credit utilization rate) it can hurt your score if you dont keep a low balance. (especially if all you have is 1 trade line). so you want to keep below 30% of whatever the limit is if you're looking to improve your score. Then once you're comfortable with using credit and you've had it for 6 months or so, try the American Express Zync. Its a charge card but it still reports to all 3 credit bureaus.



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