Separate names with a comma.
Discussion in 'Credit Talk' started by Karen, Nov 5, 2001.
Barclaycard Ring™ Mastercard®
No annual fee, No balance transfer fees, No foreign transaction fees, Low interest!
CREDIT CARD WITH NO ANNUAL FEEBarclaycard Ring™ Mastercard®
Credit One Unsecured Visa®for Rebuilding Credit
Credit card for people with bad credit to rebuild credit!
BAD CREDIT CREDIT CARDCredit One Bank® Rebuild Credit
First Access VISA® Credit Card
Access to credit even with bad or limited credit! Reports to 3 major credit bureaus and accepted wherever you see the Visa® sign. Get application response in 60 seconds.
CREDIT CARD FOR BAD CREDITFirst Access VISA®
Green Dot primor® Visa®Classic Secured Credit Card
Credit lines available up to $5,000! Reports to three national credit bureaus; perfect card for reestablishing credit.
SECURED CARD FOR REBUILDING CREDITprimor Secured Visa Classic
Credit One Bank® Unsecured Visa® with Cash Back Rewards
Get cash back on every purchase. Unsecured credit card with monthly monitoring for credit line increases. Improve your credit history with responsible use.
CASH BACK UNSECURED VISACredit One Bank
When I was in college (way back in 1986) I got $1,000 from Citibank on their student mastercard. No cosigner.
I'm with Dave on this one. I got a Citibank student VISA in 1997 with a $600 limit. They have been great to me and I now have an $8250 limit on that card. I also got a Discover Classic card in 1997 with NO prior credit history, but in my book it's a pretty worthless piece of plastic (stingy w/limit increases, high APRs they refuse to lower). Hope this helps somewhat.
Beaker: Did they give you increases while you were still in school? If so, how much and how often?
Anyone else have any experience here or comments? Thanks in advance.
Is it true they hand these things out like candy at the schools? I see applications my son brings home. I do not want to open up a Pandoraa's box but from what I have read, having a card or two at his age seems reasonable.
I had an Amex & a citibank in college..in 1992...I don't remember the limit...he could probably get any student card he wanted right now..I don't know how strongly I can say this but I highly recommend that you explain credit and how it works...because in those early years is where almost everyone I now that has credit problems started...really make him understand how important his credit will be...I didn't have anyone to explain it to me...I took some bad advice and got myself in trouble...if only I knew then what I know now...good luck
When my just-turned-18 daughter went off to college 3 years ago, they WERE handing them out like candy. Even gave out gifts if you applied. She had two in no time flat - a Discover with a $1000 limit and an Associates Visa for $500. She promptly maxed them out and was unable to repay. A bad thing. I don't think so. Now she is unable to get ANY credit at all. A valuable lesson was learned, and I doubt she'll make the same mistake again, when she's out of school and NEEDS the credit. Some kids can only learn by making their own mistakes, no matter how much you preach to them. BTW, she had absolutly NO credit history whatsoever, and no co-signers were required.
When I was a student in 1992 (second year) there were credit card companies all over campus. I picked Citibank and Macy's. I Citibank didn't approve me but gave me the chance to do the secured card deal for $300. I went for it when I got my financial aid check. Macy's gave me a card with a $300 limit.
I heard that Chase is a good student card to have along with any student card by AMEX.
As long as your son is enrolled at a 4 year college, and does not have a lot of revolving credit.. Prime Credit Card Companies, will approve , pending verifcation of enrollment, A credit line of 1000 for Freshman, 1500.00 soph and Junior, 2000.00 Seniors and Graduate Students.. Vocational and part time students,have different guidelines.. The above Lines, are what MBNA approves students for..
Good Luck, Just make sure that you educate him in regards that if he uses the card, there is a debt to be paid back.. I learned the Hard way, My son went to a College in Mass.. He applied for Citi, Discover, ect and received the Credit Cards,, He did not have any Idea in regards to how to use them , ect.. He used them to buy tickets to The Bruins, Celtics and Red Sox games.. When he graduated and came home.. The Collection Agencies followed.. It took me a couple of years to get him back on track.
When I was in college I signed up for the student Amex Optima card because I could get discounts on Continental Airlines with it. $900 limit. I got the student Citibank Visa so I could get discounts on American Airlines. $1500 cl initially, then $1000 or $500 increases after each year.
I also applied, but was denied for the student United Mileage Plus Visa, which has no annual fee and gives 1 mile/$2 spent.
The major student cards are Discover, Citibank, Capital One, Associates, MBNA, and AMEX (who won't grant credit to freshman or no history files).
Student cards are good to basically young people who have ZERO credit history. They allow you to build credit with major lenders with no annual fees and decent APRs. Their limits usually start between $200 and $1000 and go up with good payment history and low balance to limit ratios usually every 6 months.
The only alternative to people with ZERO credit history is subprime cards (Cross Country, First Premier, Providian, and all those crappy banks) who give you low limits, 20+% APRs, and a gazillion fees that will eat up all your available credit before you even get the card.
Make sure you teach your son everthing about Credit 101 because if things get out of hand, those prime lenders will dump him in a second and send the dogs after him (Collection Agencies).