Money Tips: Best Credit Cards for Students (cont’d.)

Posted On: March 2, 2006

Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Best Credit Cards for Students (cont’d.)
Posted: Thu Mar 02, 2006 8:58 am

Student cards will approve students without a credit history. This is their main selling point. Good luck and let us know how things turn out!
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Curtis Arnold
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Guest: rainyday
Posted: Thu Mar 02, 2006 11:34 am

My daughter (19) got a secured Credit Union Mastercard $500 limit had it for little less than a year. She then applied for the Citi Platinum Select card (not the student card) and got it with a 2000 CL. She bought a expensive stereo system with 0% on purchases for a year deal, used only half of her available CL and is paying $10 more a month on her account than Citi asks for. By doing this she showing self control by not using her entire CL and it show she’s paying more than the minimum monthly payment. This looks good on her credit report and will help when applying for future credit.
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Experience is a hard teacher because she gives the test first, the lesson afterward.

Guest: quiznut1
Posted: Thu Mar 02, 2006 11:55 am

quiznut1 wrote:
I have the Citi Dividend Platinum Select credit card for college students. It has the same rebate structure as the one they target to adults. 5% cash back on gas stations, grocery stores, and drug stores, and 1% cash back on everything else. Limit $300 yearly rebate limit per calendar year. I had no problem getting approved, even though I only had a 6 month credit history. They gave me a 6 month 0% APR on purchases and balance transfers, but if you pay your bills in full and on time, I think this is the best student credit card available right now.

Once again, I will rehash my point. I don’t think you’ll have any problem getting approved by Citi, as they really want to get their student cards into student’s hands. I think the only requirement for this card is that you’re a student, and the cash back rebate structure is the same on this card as the adult card. (5%, 1%). If you’re going to pay your bills off in full and on time, I think this is the best card you can get. Remember, it’s good to have the attitude that says, “Hey, do you want to have my loyalty? Then feel free to give me something back.” It’s a good thing.

Guest: Board Monitor
Board Monitor/ Administrator
Posted: Fri Mar 03, 2006 9:31 am

Quote:
My daughter (19) got a secured Credit Union Mastercard $500 limit had it for little less than a year. She then applied for the Citi Platinum Select card (not the student card) and got it with a 2000 CL. She bought a expensive stereo system with 0% on purchases for a year deal, used only half of her available CL and is paying $10 more a month on her account than Citi asks for. By doing this she showing self control by not using her entire CL and it show she’s paying more than the minimum monthly payment. This looks good on her credit report and will help when applying for future credit.

Awesome! Does your daughter also save money for a rainyday!?!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

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Guest: rainyday
Posted: Fri Mar 03, 2006 9:39 am

Yep…she a chip off the old block!
_________________
Experience is a hard teacher because she gives the test first, the lesson afterward.

Money Tips: Best Credit Cards for Students (cont’d.)

Posted On: March 1, 2006

Guest: steve
Post subject: Best Credit Cards for Students
Posted: Tue Feb 28, 2006 4:13 pm

hi, this is my first post so i’m sorry if this is the wrong place to put it.: I was wondering if there was a student credit card that will definately approve you even if you have zero credit history. I don’t even have a report yet, and I wanted to know the easiest card to get.

Thanks,
steve

Guest: CreditFanatic
Posted: Tue Feb 28, 2006 6:13 pm

I don’t want to say too much, because there’s really no such thing as a guarantee. However, my one of my sister who is in college now, just applied for a First Premier Bank credit card (firstpremier.com). Seems to me that a lot of people I know have those. So, it seems like an easy card to get. Not sure about how good the terms are though. From what I know, for my sister’s card, it’s 250 to start with 0%APR. However, if you have more limit and use more than 250 credit, then the apr kicks in. Make sure you check the site so you know that it is right for you. Different cards suit different people.

Guest: steve
Posted: Tue Feb 28, 2006 7:36 pm

thanks for the reply im going to look at the site right now.

Guest: Board Monitor
Board Monitor/ Administrator
Posted: Wed Mar 01, 2006 9:18 am

Quote:
just applied for a First Premier Bank credit card (www.firstpremier.com).

Would personally avoid that card like the plague.
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

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Guest: steve
Posted: Wed Mar 01, 2006 3:39 pm

I looked at the terms and conditions of that card and there is no way that i am paying that kind of anually fee, application fee etc. Is there any free cards that will approve me?

Money Tips: Best Credit Cards for Students (cont’d.)`

Posted On:

Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Best Credit Cards for Students
Posted: Wed Feb 15, 2006 8:56 am

David,

If you’ve only had 6 months of credit history, you will probably have a hard time getting a decent non-student card. So, I would definitely consider getting another student card before you graduate…if you find one you’re interested in.
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Curtis Arnold
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Guest: XeroK00L
Posted: Wed Feb 15, 2006 3:10 pm

While it’s true that most student cards suffer from worse APRs and less credit limits than their non-student counterparts, there is ONE card you should definitely try to get before you graduate–the Citi mtvU card, simply because not only does it offer great and unique rewards but there is NO non-student counterpart for this card. Short credit history is not a problem in getting this card as Citibank seems to deny people only if they have any bad records in their credit history, which seems to be not the case for you. Just give it a try already.

Last edited by XeroK00L on Wed Feb 15, 2006 4:17 pm; edited 1 time in total

Guest: DavidPalmer
Posted: Wed Feb 15, 2006 4:11 pm

Thanks Xero,

I will look into it tonight, and see whats it is all about. I hope you are not a representative of Citi, because you sound like a salesman.

Guest: CreditFanatic
Posted: Wed Feb 15, 2006 4:25 pm

David,

I’ve had my Bank of America Platinum Student Visa (formerly known as Fleet Fusion before BoA took over Fleet) since June of 2004. Just this morning, I called to have my student card converted to a Platinum Power Rewards. At the same time, had my credit limit raised from a measely $500 to a more usable $3000 (all this without a hard pull on my credit report!).

So, what I’m trying to say is that student cards aren’t so bad. Even with a high APR and low limit, you can use that to your advantage by paying off every month for a year or so. When you’re ready, convert it to a regular card like mine and everything’s fine.

Guest: DavidPalmer
Posted: Wed Feb 15, 2006 5:19 pm

Quote:
I’ve had my Bank of America Platinum Student Visa (formerly known as Fleet Fusion before BoA took over Fleet) since June of 2004. Just this morning, I called to have my student card converted to a Platinum Power Rewards. At the same time, had my credit limit raised from a measely $500 to a more usable $3000 (all this without a hard pull on my credit report!).

why did you have such a low CL?I have had the same card since Sept. and I started off with a $900, which I think is really good when I hear friends of mine start off at like $300. I always thought BofA gave an automatic CL increase after the first 9 months.

Does anyone else know anything about the Citi MTVu card?