Credit Card Help

[InuFaye]

Realizing that i have little to no money while going back to college this semester, i decided that i would need a credit card to help me get by. The problem is that i have no credit and every where i apply for one, i normally get turned down because of this. I just want one with a really small limit.

Any Cags have info on where i could get such a card to help make my life a little better?

[judyjudyjudy]

I'm not sure how having a credit card will help you get by. If you don't have money to pay off your card, aren't you just going to fall into debt (which is what happens to a lot of college students with credit cards)?

[VanillaGorilla]

Uh, you still need money in order to have a credit card.

[zionoverfire]

2 things:

1. Check with your school's student organization and see if your school has a contract with some credit card company, often these school endorsed cards are easier to qualify for.

2. When filling out the aplications claim that your income is a couple thousand a year, banks want to see that you have some way of paying them back.

Sadly getting your first CC in this country can be quite difficult, although after you've had the first one for a year they hand them out like candy.

[Tromack]

If you are worried about money get a student loan. If you are worried about money then you aren't going to be able to pay off the balance of a credit card and 20+% interest is going to hurt you a lot, lot, lot more than the <6% of student loans.

[Magehart]

BofA student CC is the easiest one to get from my past experiences. If you have their checkings/savings acct to they wont even quesiton giving you one.

[ZForce915]

If you get a credit card to "help" out with your current money woes, you are in for a decade of debt. A decade if you are lucky.

[InuFaye]

i have a bank of america around me, maybe i will go open up another checking and savings account, as i need to make a seperate account to help me save money, from the little money i do recieve from my job.

I also want to get a CC just to pay it off and build up some credit, so when i go to buy a new car when i graduate, i wont have that much of a problem getting a loan.

[InuFaye]

any more ideas?

[Thongsy]

State you're a student, they seem to love giving it out to students. They'll want your school info to verify it. Once you get your first CC, you can get many more very easily.

Try to set a limit for yourself, don't use it for stupid fun stuff like a xbox or ps3 unless you plan to pay it off immeadiately. Also if you can't pay off the full balance try to pay off as much as you can, at least more than the minimum payments, since if all you do is pay the minimum payments, you'll always be in debt to the CC.

[Over easy]

Try for those CC for college students.

[D4rkN1ght]

shoot credit card companies were practically throwing them at me when i turned 18... is that not still happenening? whatever you do don't mess up your credit, good credit is almost as valuable as having a big dick! (joke for all you haters)

[kube00]

That gives me an idea I'm putting my Tution on my Credit Card, actually that's a terrible idea.

[jlseal]

That gives me an idea I'm putting my Tution on my Credit Card, actually that's a terrible idea.
Hey, I've done it. Last August, Discover ran a special, 5% cash back on tuition. Granted, my student loan check came in 2 weeks later.

to the OP, get one now, even if you're not able to use it. They'll be throwing offers at you once you get in school, but if you wait until you're a senior, you'll have a hell of a time getting one. Also, pay it off every month. EVERY MONTH. I once wrote the check wrong, so I didn't pay the full balance by 7 cents. I got charged 7 dollars extra because of it the next month.

[gaelan]

instead of getting a cc, why don't you get a job?

i'd stay away from credit cards, they are nothing but trouble.

go check www.daveramsey.com for more info on debt

[daphatty]

I love how our society has distorted our college bound youth's perceptions into thinking they NEED credit. That shit is going to make you a slave to debt and you won't realize it until your 30s. Worse yet, you may NEVER get out from under it. I know that is not what you want to hear but I'd be remiss not to share my experience with you.

[wubb]

I would pass on zion's #2 - that's fraud. Unless you really do have an income of a few thousand a year. I have to agree with daphatty here, it's much better to cut your costs and get by with money you really have. If you can't do that get a part time job.

For some the only way to get a CC is to have someone with decent/good credit co-sign for the card (like your dad) or get a secured CC (http://en.wikipedia.org/wiki/Secured_credit_card#Secured_credit_cards), but if you want to get a card because you don't have enough money to pay for things, you obviously won't be able to swing a secured CC.

For someone with the discipline to only charge what they can pay off each month, getting a CC in college can be great. You'll actually have a bit of a credit history when you graduate.

[DV8]

I love how our society has distorted our college bound youth's perceptions into thinking they NEED credit. That shit is going to make you a slave to debt and you won't realize it until your 30s. Worse yet, you may NEVER get out from under it. I know that is not what you want to hear but I'd be remiss not to share my experience with you.

Well everyone does NEED credit. If you're going to go buy a house or car and you have no credit, you're going to pay for it with a much higher interest rate or even be denied a loan. Credit is a necessary element to prove that you have a positive track record of being able to consistently pay debt. The point I think you're trying to get at is how to use credit wisely. I have 3 credit cards, about 5k limit between them and I only have 500 on one of them for my school books. I just don't go buy everything I want because it's "free", but I still need to build credit like everyone else.

Note to the OP, if you're looking only to build credit, consider a store card like Macy's or Old navy, they're more willing than others to give out cards although they carry a higher rate, as long as you keep the balances low, it won't matter anyways.

[ryanbph]

if you don't get approved, get a parent to be a co applicant. If you really are looking to build up credit, your parent/co app could set a spending limit (ie $250) and have a password on the account that you may not know about which would prevent you from asking for a credit line increase w/o there consent. Once you come into your own financially, if you like the perks of the card (ie point/milage/school affinity) you can remove your parent from the card. If you don't like it, you can both close it and have you go on your own elsewhere.

[naes]

Trust me, credits cards + student = debt. Which is why I'm going to start working during this summer break, when I can actually handle money (Canadian (maybe Quebec only) law says you have to be 16 before you can handle money at a job).

[gaelan]

Well everyone does NEED credit. If you're going to go buy a house or car and you have no credit, you're going to pay for it with a much higher interest rate or even be denied a loan. Credit is a necessary element to prove that you have a positive track record of being able to consistently pay debt. The point I think you're trying to get at is how to use credit wisely. I have 3 credit cards, about 5k limit between them and I only have 500 on one of them for my school books. I just don't go buy everything I want because it's "free", but I still need to build credit like everyone else.

Note to the OP, if you're looking only to build credit, consider a store card like Macy's or Old navy, they're more willing than others to give out cards although they carry a higher rate, as long as you keep the balances low, it won't matter anyways.

"buiding credit" is a myth. there are ways of getting home loans with good interest rates without holding alot of debt. a home loan is about the only thing i even consider financing, and you can do that with the right type of lender.

[Pookymeister]

i'd stay away from credit cards(if you have no self-discipline), they are nothing but trouble.


fixed.
Credit cards have plenty of perks if you use them right. Use them wrong, and sure youll find yourself in some trouble.

[TheBlueWizard]

Sadly getting your first CC in this country can be quite difficult, although after you've had the first one for a year they hand them out like candy.

Since when? I've received every credit card I have ever applied for, even when I didn't have a job or any money.

TBW

[Gustav Holst]

any more ideas?
Stop buying games?

[gaelan]

fixed.
Credit cards have plenty of perks if you use them right. Use them wrong, and sure youll find yourself in some trouble.

unfortunately the percentage of americans that are responsible with their finances is very very low. as for the perks, they aren't good enough for me to sign any of their credit apps.

[Pookymeister]

unfortunately the percentage of americans that are responsible with their finances is very very low. as for the perks, they aren't good enough for me to sign any of their credit apps.

I maxed out my citi card rewards and got the full $300 back last year - so works for me.

[gaelan]

I maxed out my citi card rewards and got the full $300 back last year - so works for me.

i am not familiar with that program. does that mean you max out your credit limit on the card and they send you $300 to say thanks?

[Pookymeister]

i am not familiar with that program. does that mean you max out your credit limit on the card and they send you $300 to say thanks?

$300 is the max you can get in a year(excluding their merchant network purchases). Card gave you 5% back on gas, groceries, etc. and 1% on the rest.
I put an engagement ring on the card - thru their merchant network i got 9% back from diamond.com, which was almost $400 right there.

[DV8]

"buiding credit" is a myth. there are ways of getting home loans with good interest rates without holding alot of debt. a home loan is about the only thing i even consider financing, and you can do that with the right type of lender.

Example? So you don't finance cars either?

[Chacrana]

I'm not sure how having a credit card will help you get by. If you don't have money to pay off your card, aren't you just going to fall into debt (which is what happens to a lot of college students with credit cards)?

The first semester that I was in college, I knew at least 7 or 8 people that were over $1000 in debt within 2 or 3 months. People fuck up like no other when they get a credit card for college.

[gaelan]

Example? So you don't finance cars either?
no. financing something that does nothing but lose value is silly. i've financed one brand new car way back in the day. when i tried to sell it, the value had dropped almost $6K in one year. from that point i bought used with cash.


I put an engagement ring on the card - thru their merchant network i got 9% back from diamond.com, which was almost $400 right there.

being able to get 9% back on a $4K purchase isn't bad, but were you able to pay it off the same month or do you normally carry a balance from month to month?

[Pookymeister]

being able to get 9% back on a $4K purchase isn't bad, but were you able to pay it off the same month or do you normally carry a balance from month to month?

Always pay in full