What first credit card should i apply for? help?

[093]

I'm 21 a year old college student I haven't been looking for a job.. I just "started" so its not like I been looking and I haven't got anywhere!, so far a few places called me so I no it will be about any week now I'm called for a job interview "hopefully". I'm online looking at credit cards I never had one before but I see all these opinions, which one should I pick? Visa or chase and please feel free to explain them to me! Thanks

[Libraryanna]

Don't get a credit card until you have a job. Otherwise, you will get a poor interest rate and you will have a card you can't pay back. Income first, debt second. And always pay the card off in full every month. The only time you shouldn't is when it is an emergency, like a vital car repair or medical care and you can't pay it off. This is the time to learn responsible card use. When you get a card, put it in a hard to get place in your wallet so you will most likely use the debit card, check, or cash first. In fact, with a debit card usable just like a credit card, you won't really have need for a credit card.

The first card to get would be a gas company credit card. Use it to fill up and then pay it off every month. That will establish a credit record. Then you go for a low cost credit card. That means start an account at a credit union, use direct deposit of your pay check, and after 6 months or a year, apply for a card through them. Their interest rate can be as low as 9% compared to 25% or higher with some credit cards.

The place you apply for usually picks the kind - so Chase bank will offer Visa or Master Card - which is a generic type of credit card name offered by a lot of banks.

I recommend credit unions because they are smaller, have better interest rates, and more personal service than big banks. They are also more likely to help you out in need.

Apply through your credit union or bank website, not random online sites. That's dangerous.

[rpf5]

With no job you are going to need a cosigner. That cosigner will probably be your parents, so keep to the same credit card brand that they use. Then apply using them as cosigner or call & ask if they will permit you to be an authorized user on their card. Either way you will get your own card and seperate billing. Expect a limit of no more then $500.

[bdancer222]

The credit card will require proof of sufficient income to qualify. Do not even bother to apply for a credit card till you have at least 6 months of full time work history. Even then, that might not be enough to get a regular card and you will likely have to start with a secured card.

Do not bother with gas or store cards. They are not easier to get, have limited use, and high interest rates. Go to your bank. They are the most likely to extend credit to you.

[StephenWeinstein]

Definitely not Chase, because you can't get Chase first. You need a history of having a credit card before you can get a Chase card.

And none right now.

Wait until after you get a job.

Applying before you get a job can keep you from being able to get a credit card.

If you apply and get rejected, then you don't get a do-over. When you apply the next time, you can be rejected because of your history of applying. It's really important to get it right on the very first try.

[Jo]

Unfortunately, you don't get to "pick".

Without employment and income - no card will "pick" you.

Not going to "explain" them to you. If you don't know how they work - then you need to educate yourself. If you don't know how they work and are not willing to educate yourself on financial things - then don't get credit cards until you do.

[Merry]

Contrary to what a lot of people think (and will tell you on here), some student credit cards can be quite easy to get IF you're a college student, at least 18 years old, with at least a part time job. Before applying for a card, you should make sure that you already have a savings (not just checking) account. Not only does it look better on the application, but you should get in the habit of paying yourself first.

Applying for any card (whether you're accepted or not) will put a small ding on your credit rating. If you apply for lots of different cards, those dings will add up. This is why it's good to research first which issuer is likely to approve you.

Also, I want to point out that you should never get a card because you “need” one. But, if you're interested in one to build a good credit score, I will tell you that Discover is known for being one of the easier cards to get for college students – and they have wonderful 24/7 customer service (which I think is especially nice for a first card when you're likely to have more questions).

My daughter has a student Discover card and loves it. Wait until you have a form of income and then if you use her referral link here: https://www.discovercard.com/cardmembers...5_1483120, you'll get $50 cashback bonus when you make your first purchase and you'll get cashback bonuses for everything that you purchase. The cashback is always a minimum of 1%. However; every three months there are different categories that pay 5% cashback.

There's no annual fee and the APR (annual percentage rate) is fairly good for a first card. But, it really doesn't matter how much the APR is if you pay your balance in full each month. As long as you pay in full, you'll never pay interest. That's important to remember!!

If you use a credit card wisely, it can be a great tool. But, you can also ruin your credit, so whichever card you end up getting, just be certain to use it the right way. Use it for convenience (paying at the pump, making reservations online, etc.) and to build credit. Don't use it to buy something that you can't afford.

Use it at least once a month for something that you need to buy anyway (gas, food, etc.). Set that money aside immediately so that you have the full amount when the statement arrives.

Pay in full, but don't pay before the statement prints. If you pay before your cycle closes, then “zero” could be reported to the credit bureau as your usage, which won't help your credit score at all. Keep your utilization at, or below, 30% of your available credit to develop the best credit score. In other words, if you have a $500 limit on your card, it's best if you don't have more than $150 in use when your cycle closes.

Just don't let temptation to get to you!! It's too easy to spend money that you don't have. Be smart, and a credit card can be a wonderful tool, both to help build credit and for convenience.