Citi Student Credit Cards Help?

February 17th, 2010 | by admin |

Hello, I need help on what you consider the best thing I should do. I have recently applied for a Citi Dividend Platinum Student and got approved. I have already activated it as well, but have not use it yet. I am still waiting for my pin in the mail. However, I have suddenly change my mind and prefer/rather have the mtvu student credit card instead. Since I really do not spend as much therefore this card won’t really reward me. Btw, I am a college student with no history yet Should I apply for the mtvu and wait to get approve then cancel the other one? I know it may hurt me in the long run,but how bad?

  1. 4 Responses to “Citi Student Credit Cards Help?”

  2. By VidaLoca on Feb 17, 2010 | Reply

    *CAUTION* .. Student Credit Cards were how I started down the LONG road of bad credit. The fact is, you should treat your credit now as the most important financial decision you will make in your lifetime. Yes! it is that important!

    To answer your question, you should keep the other one for 6 months, spending as little as possible with it, and paying it off every month. Then you can apply for the other one and guarantee approval. Once you have the other, cancel the first or keep it at a $ 0.00 balance. Having a major credit card is great for your credit, but you need to request the limit be raised after 6 months to at least $2,500.00. But, be sure you don’t use it unless you need it and pay off the balance every month. Don’t consider it free money because it is far from that. You have to pay for the privledge of borrowing the money at a very high interest rate.

  3. By Judy on Feb 21, 2010 | Reply

    Apply for the new one, but keep the old one.
    Two or 3 cards are best for great credit.
    The trick is to pay them in full each and every month.
    Carrying a balance does nothing to improve your credit.
    Read the fine print. Be careful of annual fees.
    Please do not get trapped by paying interest. You will never get out.

  4. By Many G on Feb 21, 2010 | Reply

    Try this. It`s may help.

  5. By Mike on Feb 24, 2010 | Reply

    I would apply for the new one and keep the old one. Cancelling your first credit card can often hurt your credit score.

    Good luck!

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