xtreme313 asked:
This is because i’m just 19 years old and in my second year of college, so I was just wondering, becuase I am planning on applying for a credit card soon.
P.S.- Do any of you know whats a good credit card for first-time soon-to-be credit card holders?
http://1mortgagecalculator.info
This is because i’m just 19 years old and in my second year of college, so I was just wondering, becuase I am planning on applying for a credit card soon.
P.S.- Do any of you know whats a good credit card for first-time soon-to-be credit card holders?
http://1mortgagecalculator.info
yes you can have a credit score. Once you get your card be sure and pay it off completely… credit card companies love to get college stuents, give them lots of credit and then when you can’t pay it off in full each month they get to collect all of that interest. Be careful
As far as your question, yes if you had an auto loan or some other type of loan (student loans), that will give you credit history.
As far as recommended credit cards:
Don’t get Capital One, they will stick it to you if you have low credit. I have one because with my score I was able to pull their best card.
Get a student card from the bank that does business with your campus, or that you have a checking account at.
You can get student cards at Citibank as well as most other financial institutions.
My recommendation:
Get a few cards (I have Bank of America, Commerce, Capital One, Citibank, and American Express), but don’t be a dumb person and get into debt. Look at the cards as a tool to build your credit so that in 4 years when you graduate you can get an excellent rate on a home loan. Never be late. Go to and read the forums. By the time you graduate you’ll have pretty big credit limits (if you call them every 6 months and pressure them), as well as low apr’s. So when it’s time to buy a house, you’ll get the best rates.
I’m actually a senior at KU, I’ll be graduating in Finance with a credit score of 786. The most important thing is not being late, and after that is not going deep into debt. Although I *can* go out and buy a car completely on a credit card, I’d be an idiot if I did. Good planning and knowledge of credit will set you up for an easy after-graduation life.
Yes it is. Application for any form of credit generates your name and details into a database. In your position and age group after you apply to one or more companies you will probably be flooded with offers and even receive a creditcard through the postal system, depending on where you are located. Don’t be flattered this is where you have to be cautious.
Be aware of the previous reply and select your cc carefully. Certain cards like American express/gold and Diners should be paid off every month and will not attract interest charges whilst others will offer extended limits and hit you where it hurts if you are endeavouring to only pay the minimum monthly repayment. If you default it will affect your credit rating for a long time.
Also be aware that some companies institute a levy on your bill if you are using a credit card, restaurants can do this in some locations if you travel and add that to the tip and your holiday can become expensive.
The upside to cc’s is of course the use of the internet to purchase or reserve items for travel etc. but be aware of the security issues pertaining to the use of them.
You can have a credit score without a credit card, but a credit card does make it easier to build good credit. As long as you spend what you can afford and pay your bill on time, you should do well!
I would recommend Aspire card Visa for a first timer! I’ll post a link to it below along with my website. I had to declare bankruptcy after having my Identity stolen, so this is an area I know a lot about. School of hard knocks!
So read all of my website and get my RSS feed if you want. I’m constantly adding new relevant info on keeping your credit clean and you would benefit from the “how credit scoring works” section too.
Aspire card should have a reasonable limit of $500.00 to $1000.00 for you to use.
Hi, I think most of these answers are from Americans, I am reading this in the UK section, are you in the UK?
Well – I am 19 and in the UK too, so I will give you a UK answer! You will only have a credit score if you have applied for credit or had credit, but this doesn’t necessarily mean a credit card – if you have a mobile phone contract, or a bank account with an overdraft, then these will be on your credit report.
If you are a full time student, and have never had any credit, get an overdraft instead of a credit card for now – it is usually really easy to get an overdraft, because there are lots of student deals around – and unlike credit cards, these overdrafts are usually interest free.
If you don’t have one, get a student current account with a good bank (I am with HBOS) and a overdraft – using your debit card to spend your overdraft is a lot like spending on a credit card, but you will not usually have to pay any interest with a student account.
If you try and use your overdraft responsibly, don’t go over your limit etc, then in six months you will be able to get a mainstream credit card with a good interest rate.
If you don’t already have an overdraft and you need a credit card now, then be prepared for an extortionate interest rate – all you can do is try and pay it off each month before you get charged interest, then after a while you can switch to a better deal.
Halifax Bank of Scotland have the biggest interest free loan in the UK – up to £2750 – and they also do a student credit card for account holders, which I think you can get even if your credit score isn’t great.
Good luck!
It is always a good idea to keep track of your credit history once a year. It’ll help you see the improvements or possible downside in your credit history.
To get your free report check out
If you are interested in getting the FICO scores, there’s a small amount of $$.
Contact ur local bank to get a credit card. If for any reason U are turned down, get a secured credit card for 6 months to a year and U can get it converted to a regular credit card.
1. Use the credit card only when absolutely essential. Pay your regular expenses by cash or a debit card. This will help you budget and not go overboard with credit card debt.
2. Follow repayment schedules like religion. Don’t miss out and invite late payment fees, increased APR rates and blocked reward programs.
3. Don’t stick to the monthly minimum payment. Pay the maximum you can afford and get that outstanding debt cleared as fast as possible. By just paying the monthly minimum the credit card companies reap the maximum rewards while, as a consumer you pay the maximum interest.
4. Get rid of multiple credit cards. Although this might sound difficult, but if you are struggling to repay on time and, juggling with the repayment dates is causing you to default- it’s time to think. If there is a genuine need to keep multiple credit cards, then try to automate their monthly payments. This will ensure that you don’t default unwillingly and face the negative consequences. Read more from:
Believe it or not, you can build credit and have a credit score without a credit card. Since you’re in school, chances are, you’re using student loans to pay for your tuition, if you’re not on scholarship. This is deffered until 6 months after you graduate. So in essesnce, you do have a credit score. At this point, it’s up to you in order to control the number of credit cards that you rack up. College is one of the easiest times to get a credit card since student cards are fairly easy to get. Some keen advice based on my past experience on how to use the card would be to spend ONLY $10-15 month, pay it off and do it again the next month. Remember, you want to show activity, but don’t get into debt while you’re doing it. You might not have a full-time job, so it’s important not to overuse the card especially if you don’t have the means to pay it back.
I posted links on several student cards that should help
Thanks for reading and I wish you good luck