- Centurion Member
- Posts: 341
- Joined: Sun Mar 18, 2012 10:08 am
- Location: USA
My answer got cut off.....basically if you do not pay off your balance in full each month, your APR (interest rate) is the rate at which interest will be added onto what you already owe. As tempting as it is, do not open a credit card or charge card unless you are certain you can pay off your balance in full each month as this is essential to establishing good credit history. If you can however afford to pay off your balance in full each month, then you wont earn interest. For instance, I pay off the charges I make on my citi forward college card every week so by the time I get my bill at then end of the month, its 0 due and paying it off each week essentially gives it the functionality of a debit card.
Also, each time you apply for a card of any type, it 'niques' your credit score, so if you are sure you want one, (and have the income to afford one) then you should narrow down which ones you want and apply for them all at the same time.
There are plenty of threads on here about good college cards for college students. Citi Forward, Amex Zync, Discover Cashback just to name a few..hope this helps!
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013