I'm deciding whether to apply for the Student MBNA Mastercard or the Student Capital One Gold Mastercard. Both companies have sent me invitations in the mail. I've heard it's easier to get the Capital One card, but the rates, fees, etc. are lower with MBNA. I'm planning on paying in-full and on time, but thought the lower rates might be good to have in case. Which should I try? I thought about applying for both and if I get the MBNA card I could cancel the other. How difficult would that be? Should I just go with Capital One? Thx.
Go for both,their only credit cards,and as long as you pay them off monthly, that will help you build your credit.
My MBNA student card was the third card that I got, and the only problem that I have with them is that there credit line increases do not come like clockwork - you have to request them. I don't think it is that hard to get when you are in school because I didn't have credit for even six months when I received it. I have a friend that has had it throughout her 4 years in school, and now that she is graduating, out of the blue, they moved her up to a platinum MBNA alumni card - the same design, but a little nicer with a 1000 increase.
No contest MBNA hands down. Bigger lines, more teaser rate offers and lower rates. www.creditsense.com
