Adding a co-signer reduces risk for lenders, but it also forces them to stay competitive by extending the kinds of features and perks you rarely used to see with student credit cards before the new regulations went into effect. Regardless of the benefits and perks your card will provide, it's important to stay focused on building a good credit history. Making small purchases, staying under 10 percent of your total available credit, and paying off your account each month are key steps in building a solid credit report.
Because your credit score improves as you maintain a history with a lender, think about signing up with a lender that offers other accounts and services you think you could grow into over time.
- I am looking to establish good credit so I can buy a home for my family. What kind of credit card should I start out with?
- I'm a 22-year-old female who makes about $1,000 a month. I have a credit union credit card with credit line of $500. I recently applied for a Lowe's credit card and was denied. I'm always on time with my credit card payments. What would be the reason?
- I am an 18-year-old with no credit history. I have read Curtis Arnold's book and am successfully paying my community college tuition on my own. Which card is best suited for me when I only plan on using my future card for gas purchases?