Credit cards for graduate students

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Credit cards for graduate students

Postby reversed » Thu Jan 27, 2011 12:44 pm

Being a graduate student with an aversion to living beyond my means after enduring my parents' painful debt consolidation process, I've been having some issues applying for loans, mainly due to my limited credit history. My only outstanding loan (ignoring about 20k in deferred payment school loans) is in the form of a car loan of 2 years, and my Discover More card, which I applied for last May as a move of desperation when I needed money for a class. I don't necessarily regret this, as I've since paid off the balance and use it mainly to exploit the rewards program for purchases and bills I would be paying anyway.

In my mind, I can't justify getting another credit card, with my otherwise frugal lifestyle, but I've been told it's good to have 2 or 3 credit cards if only to build one's credit and in case of emergencies. Is this a wise decision? If so, what are card recommendations for someone in my position?

Eventually I feel like I should get a travel rewards card (being in a profession that entails a modest amount of travel), but I doubt I qualify for most of them currently, with my limited history and mediocre credit score.


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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Jan 31, 2011 1:37 am

If you want another card but don't like credit cards, then charge cards are always an option to consider? It will show on your credit report but charges will have to be paid in full, hence it doesn't have the same dangers that a credit card does.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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