Question : what is the best credit card for a first timer who wants to build credit?
I am very responsible with how I spend money, so please don't lecture me on how credit cards are so dangerous. I've waited til I felt financially secure enough to get one. I just want one so I can work on establishing credit. I want to make one or two monthly purchases and pay them off so I can have some credit. I just want to know what kind of card should I look into getting.I know I want a card with low-intrest rates(who doesn't) and no annual fees. I am also a college student. If you can give me any information on a card you think I should look into, please let me know. thanks a bunch.
- asked by cyndaylou
All Answers:
Answer #1
This might not be an answer you're looking for butbest way to get started is getting student creditcards. When I was in college, credit cardcompanies would come and set up booths on thecampus, look for those, they're usually gooddeal.Your on the right track, two things to watchout for: annual fees, "participation fees",monthly membership fees, and get a low interestrate. You might have to choose between an annualfee or having a low interest rate.Also, you cangoogle it and try to get a student card. Don'tsettle for any secured credit cards or any cardswith participation fees.
- answered by Fahad S
Answer #2
I got my first credit card from my bank. There isno annual fee and if you are like me and want tomake one or two monthly purchases and pay them offso you can have some credit, this is the way togo. I got my first credit card from my bank(Washington Mutual) and it was a Visa card. Yes,the interest is high, but I pay mine off just assoon as the bill comes and that sounds like whatyou are going to do too. They first gave me acredit line of $500.00, then in time it increasedto $700.00 and now I am up to $1,400.00. I didnot sign up for participation fees or theftsecurity. I opt out of those. On your statementthey will give you a phone number to call andcheck on your balance. I know exactly at alltimes the balance of my card and if there wastampering I would know and report it to Visaimmediately.
- answered by prddp
Answer #3
First Financial Bank USA is the number one issuerof student credit cards and will EVERYONE acard.www.1fbusa.comAlso, try your local bank. Iknow that U.S. Bank (not sure if they are in yourarea) will give someone with no credit a studentcredit card or alternative card for some one withno or bad credit. If you don't have a U.S. Bankcheck other banks in your area.www.usbank.com
- answered by laurenm49
Answer #4
A student credit card is your best choice. Itworks the same way as a regular credit card butthey are just marketed for college students. I gotmy first credit card as a student and now I haveexcellent credit.
- answered by James
Answer #5
Any card without a yearly fee is fine...theinterest rate should not be important if you arepaying the card off in full each month.I wouldstart with ones offered by your bank.
- answered by Mary B
Answer #6
you might want to go here to compare them
http://www.bestcreditrates.net
- answered by david a
Answer #7
You need to be honest with yourself – are youand can you be financially responsible with thiscollege student credit card and you are the onlyone that can answer that. If you are not sure,then perhaps a secured card would be the bestplace to start. This is where you make a depositwith the card issuer, say a bank or credit union,and then your credit limit is the amount of yourdeposit. This is actually a great place to startand to learn fiscal responsibility and to get usedto getting into the religious habit of paying yourcredit card bill on time every month, and tounderstand how the interest can add up, andunfortunately, how late fees can also add up. Butit is a lesson that you will learn quickly, andthe good news is that you will remember that forthe rest of your life. Checkout a list of popularstudent credit cards at:
http://www.credit-card-gallery.com/Student_Card.html and choose a best one according to your choice.
- answered by grierGRIER h
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measure and fulfill your financial needs
