Can I get a student card without a parent co-signer?

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hisshissmeowmeow
 
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Can I get a student card without a parent co-signer?

Postby hisshissmeowmeow » Wed May 02, 2012 5:29 pm

I would like to get a credit card as soon as possible. I'll be 18 in 12 days. I want to get my own phone plan and buy myself a laptop and those will be pretty much the only purchases I'll make right away and then I'll just have it for 'emergencies' and I'll use it sparingly.

I heard there was something that passed that said you have to meet new certain requirements if you're under 21. But I've also heard of people who've been 18 and able to get one anyway without much hassle with that.

Right now I don't have a source of income and I know my parents will definitely not co-sign. I'm starting to look for a job though. And no lectures please.


andy1088
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Postby andy1088 » Thu May 03, 2012 11:43 am

You can certainly try but no annual income will be a turn off to a creditor and even if you get approved it will probably be a low credit line like $300-500
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Crashem
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Postby Crashem » Thu May 03, 2012 12:43 pm

Student cards are for college students. With the Card Act, student cards got tougher to get as students basically needed to qualify on their own (ie own income). Student cards are fairly easy to get if you are in college and you have some documented income. Otherwise no go.

You won't qualify for anything until you get some income or have a cosigner. Since you have neither, you will not get a card. Don't even bother as you will just get some wasted hard inquiries. Once you get a job and a few paychecks, you will need to go for a REALLY EASY card. If you are in college and income, go for student card. If not in college but have income, you will either need to go for secured card or beginner card like capital one for new comers.
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JCarter
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Postby JCarter » Tue May 08, 2012 8:54 pm

Crashem wrote:Student cards are for college students. With the Card Act, student cards got tougher to get as students basically needed to qualify on their own (ie own income). Student cards are fairly easy to get if you are in college and you have some documented income. Otherwise no go.

You won't qualify for anything until you get some income or have a cosigner. Since you have neither, you will not get a card. Don't even bother as you will just get some wasted hard inquiries. Once you get a job and a few paychecks, you will need to go for a REALLY EASY card. If you are in college and income, go for student card. If not in college but have income, you will either need to go for secured card or beginner card like capital one for new comers.


Effectively if the card holder agreement doesn't specify college students only, then s/he could infact obtain a student card.

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Postby agp » Tue May 08, 2012 9:08 pm

Yes. My first card was without my parents' cosigning and I had $2000 limit. Of course go for credit unions for higher approval rate rather than big banks/high end cards.

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