Comments on: Whats’ the best credit card for a college student who?

By: Big Brotha Mike

Big Brotha Mike — Wed, 05 Aug 2009 05:24:15 +0000

First off, the best way to use a credit card is to get a good student rewards card, funnel most/all of your normal spending through it, and then pay off your balance in full every month.

That way you build your credit quickly, avoid interest, and earn great rewards.

If you’re spending most of your money on books, food, and clothing, then there’s a good chance that the Citi mtvU will be the best student rewards card for you. However, you can use this rewards calculator to see which student rewards card will pay you the most in rewards for your entered spending profile:

Another good card is the Citi Driver’s Edge for College Students card.

By: Mike

Mike — Mon, 03 Aug 2009 03:54:38 +0000

I would think that a credit card that offers rewards would work out the best for you. I guess it all depends on what you spend your money on. I did a quick search on student credit cards online and found this unique tool you could use. Good luck!

By: Monkey1980

Monkey1980 — Sat, 01 Aug 2009 22:46:39 +0000

I’m from the UK so an’t in a position to recommend a specific US credit card but the best general advice I can give you is to look at the rate of interest which you have to pay. This varies from card to card and some are much more expensive than others. A credit card allows you to make a minimum payment of say $10 and then the rest of the balance you pay interest on at the specified rate ie 15%, 17, 22% etc etc.

Many cards offer loads of gimmics to get you to sign with this, ie $50, gift vouchers, cinema tickets etc etc often these are the worst cards.

Go on a comparison website and find the one with the cheapest interest rate its as simple as that.

By: anythingwilldo

anythingwilldo — Thu, 30 Jul 2009 04:50:52 +0000

Just get a debit card – that way you are spending your own money and you are in control .

By: Reena

Reena — Tue, 28 Jul 2009 15:24:12 +0000

If you have a checking account with a bank and had it for a while then ask your bank to issue you a credit card.

Don’t expect to get a high limit credit card… they will base your credit limit mainly on your real income and you don’t make much. So with any luck they will give a card with a limit of $300.

If they say no… you have other options but most of them are beginner cards with high APR, lots of hidden fees and extremely low credit limits that can easily get you in trouble… (Capitol One, Chase, Orchard).

Frankly… stay away from those.

You can always get a secured credit card thru your bank.
In this scenario you give the bank a certain amount of money as collateral. (Usually at least $500 in a savings account) that they get to hold while they offer you a secured line of credit up to that amount and you get to play practice credit card for 6 months to a year. If during that time you make all payments on time and use the card wisely they are going to release your collateral back to you and turn your secured credit card into an unsecured real credit card.

To do it right: Never use more than 10% of your cards limit ($50) during a billing cycle and pay that off immediately when the bill comes in. This behavior will impress your bank very much and they will be more than happy to turn the secured card into an unsecured card after a reasonable amount of time… (6 months to a year).