Student Credit Cards

[~Beauty_from_Pain~]

Do you have a student credit card? If so, which one? Do you like it? Would you recommend it?

 

[fishstix]

I used to have one, because it was free with my student bank account. It worked well for me, but for some people credit cards aren't a good idea. Personally, I use a credit card the way that I would use a cheque - I only use it if I have enough money in my bank account to pay off the entire bill immediately. That way I never carry a balance and never end up with huge debts. If I don't have the money, I don't buy the object. Because of that, the only thing that I really look for in a credit card is 'no annual fee'. I don't even pay attention to the interest rates because I know that I'm never going to be carrying a balance anyway. Of course, for people who do carry a balance, the credit card that I use would not make any sense at all.

I would only recommend a credit card of any kind to a person who is responsible with their money and isn't going to accumulate credit card debt for themselves. They are useful things to have, for stuff like online shopping, booking hotel rooms, etc. But they can also easily become a negative thing if you end up having a debt that you have to pay interest on.

 

[~Beauty_from_Pain~]

I need a credit card so that I can start building credit. I had a hard time getting a loan for a car....I need the credit for the future. I'm really good when it comes to handling my money, so not paying on time is nothing that I worry about.

 

[Manda_24]

I have a Capital One Visa card that I got basically as soon as I turned 18. I also have a loan for my car mainly to establish credit along with the credit card.
I used my card to buy a printer for my computer but paid it off right away and the only other thing usually use it for is to buy my books for school.

My mom has always worked at a bank and I've worked at one for the last four years so I know how important it is to establish credit and learn early how to be responsible with money and credit cards. There is a guy my family knows who is his 40's somewhere and he has paid for everything he owns with cash, he went to get a loan for a house, I think, and was turned away from a few places because he had absolutely no credit.

 

[fishstix]

I guess things must work differently here. I thought that having a credit card would help me to establish a good credit rating. But after having (and using) my own credit card for 3 or 4 years (not a cosigned card, but my own personal card), I went to apply for a new bank account at a different bank. They did a check of my credit rating and told me that I didn't have a credit rating. I asked them how that could be since I had a credit card for 3 or 4 years, and was informed that some of the major credit card companies don't report to the credit bureaus. It didn't cause me any problems, but I was quite surprised to discover that after several years of promptly paying my credit card bills that I didn't have a credit rating at all.

 

[Maeyken]

I never had a "student" credit card. I think the bank made a mistake or something, cuz the one they gave me you're supposed to make over $20,000 per year, and as a student let me tell you- I was making nowheres close to that!

The only reason I got a credit card was to build a credit rating. I only used it for stuff I could already pay for, and usually paid it off within a couple days of the purchase so I wouldn't forget! It's been handy too, for paying some bills and such. I try to put large purchases on it, cuz I get a % cash back. (can't remember what!) It's nice though, to save a couple bucks!

 

[PuppyforChrist]

I think I know what you are talking about. I use a card from PSECU, and it's fairly popular at my school. At my school, Lock Haven University, the school supports PSECU and there are withdraw/deposit machines all around campus.

I'd look into the website: www.psecu.com. There should be a section on the website of the supported schools for PSECU.

It's a fairly easy system to use I think. And I'm someone who has never paid bills or used a checking account or things like that in her life!

When you get an account on PSECU you get both a savings and checking account. How much money is on the checking account is what you can also spend not just with a check but with a check card you get through the system as well.

I haven't had any problems with my account since I got it last summer. I'd recommend it.

 

[Nautica]

I also have a Capital One Visa check card.

 

[tryniti]

I have a citi card that is tied to my dad's account and a debit card tied to my checking account. Neither one is building credit for me, but I am paying my own cell phone bill, which i think does build credit.

 

[lacedinlavender]

I applied for my first credit card today--the Capital One card created especially for those who are new to credit.

Jen

 

[arunma]

I never got a student credit card either. I got a Visa Providian. The big secret is this: I don't spend much (except on my burrito addiction), and I always pay the full amount on time. If you do this, you'll build credit, and the credit card company will never make a dime off of you.

 

[AuburnMeg]

I got a Citi Card a little over a year ago. I use it all the time. I make sure to make at least one small purchase on it each month. That way it shows that I pay my balance off completely at the end of each month. It won't build you any credit if it just sits in your wallet. I'll also note that Citi's customer service is great. There's been a few times where I've had a question or a problem with my statement, and they've always taken care of it without any problems.

 

[Matt.9:22]

right now I don't have a credit card. I prefer a debit card because you can use it anywhere you would use a credit card, but you can spend money you don't have and there are no payments for interest to acrue on. But I will get a credit card before I graduate undergrad just to build a line of credit.