# University student credit cards



## turtlehead (Nov 27, 2004)

Any university students here with credit cards? I want to apply for one, but the thing is my parents want it to have a limit, possible cash back or something similar, and something that can be used amost anywhere. Any suggestions?


----------



## John N. (Dec 11, 2005)

Citibank Visa will give 5% cashback or something like that.

Also Discover and American Express have about 1-2% returns.

-John N.


----------



## epicfish (Sep 11, 2006)

John N. said:


> Citibank Visa will give 5% cashback or something like that.
> 
> Also Discover and American Express have about 1-2% returns.
> 
> -John N.


I have a Citibank Mastercard, 1.00% cash back.

You'll only get a small cashback % unless you go with smaller banks. The 5% cash back (actually 6%) with the card John is talking about is on restaurant, gas, and drugstore purchases only. Everything else is 1%.


----------



## turbomkt (Mar 31, 2004)

Honestly, I wouldn't go with a traditional credit card. It's too dangerous. If you can, go with a prepaid card where you put your money in ahead of time. You'll still start to build your credit rating, but with a bit less risk.

There are too many kids coming out of college (Yes, I said kids ) with significant CC debt above and beyond any student loans. You'll be lucky to get an interest rate below 14% is my guess.

There are plenty of links out there. This one looks good.


----------



## lildark185 (Jul 7, 2006)

I'm a college student and I have a student credit card from HSBC with a limit of $500. I rarely spend even near that limit so I'm fine with it.


----------



## turtlehead (Nov 27, 2004)

It's not a card I'll use on a shopping spree  it's for books and groceries etc... and it will be paid for on time every month with the help of my parents. Looks like mastercard from citibank or capitalone. Thanksm guys. It's higher Mike, 16%-19%


----------



## redstrat (Apr 3, 2006)

Check out the Citibank Visa, I have one and love it.


----------



## Burks (May 25, 2006)

The best card I could get was offered to me through my bank, Key. $500 credit line, interest was like 18% or so. That's a better deal than what my girlfriend got with her card, she's got a full time job and a degree too!

If you can get a card that gives cashback go for it! I use my card to basically build credit while buying my books/supplies.


----------



## leonpetty (Sep 6, 2006)

I personally use 1st financial bank and have had no issues. It's a student card so it started at an 800 dollar limit and has gone up every year since. As far as I no, most student cards don't have cash back deals, but I'm not sure?


----------



## epicfish (Sep 11, 2006)

Just get any old regular credit card if you know you're responsible enough...I'd go with a Citibank card. Google for "virtual numbers". They give you a disposable credit card # to use online everytime you make a purchase. This way, if it gets stolen, it doesn't really matter!

Citibank gave me a pretty decent limit on my credit card and it just keeps going up. Try not to use more than 2/3rds of the limit in any given month since the information goes to a credit bureau. (More than 2/3rds on a card is "high risk" for credit debt in their opinion).

Another good one to get is American Express. I shop at Coscto tons so I save a bunch of money via cash back that way. They're not widely accepted in brick & mortar stores, but lots of places online take them. Good credit limits too.

Hope that helps.


----------



## Script404 (Jun 30, 2006)

Credit cards are useful but they're definetly something to be careful about as well they're there to make a profit on you after all, plenty a student gets them just be sensible.
Depending on how youre going to use it look at the interest rates on the card they often vary for what you want, i.e intrest free purchases, but then catch you with the intrest from a atm withdrawal. Also some actually have you pay of all the intrest free stuff first while still charging you intrest on what they can.
As for parents wanting a limit, imo fair enough if they are gonna be the ones helping you pay it off, or acting as guarentors on your credit otherwise any debt could possibly make them liable.


----------



## snowhillbilly (Mar 29, 2006)

If its your first card I thik youll be lucky to find something under 21%. All i can tell you is dont get a credit card unless for some reason you need emergency money. Credit Cards are bad bad news. If you buy something for 200 dollars and make standard payments at 21% interest you will end up paying 400 dollars for something you could have waited for and paid face value.


----------



## turtlehead (Nov 27, 2004)

It's my second credit card, so I know how it goes. I decided to go with the Citibamk mastercard that gives 1% back for every purchase with a limit of 500$. Thanks all.


----------



## joephys (May 9, 2006)

I am a university student and have 2 credit cards, but to be fair, I am not a university student right out of highschool. I was in the military for 4 years and got one then. They can be bad for college students. One thing to do is get one and don't let them raise your credit limit, that way you force your self to not get too far in debt. If they raise your limit call them and tell them to lower it back to where it was. I have had one card for 4 years and every six months they bump the limit up another thousand bucks. That card helped me out a lot though. They sent me convience checks that were fixed at 3.9% APR for the life of the ballance. Thats better than any student loan so I wrote my self a check for a few thousand bucks. Because the card is with a good bank (USAA if you can become a member) there aren't any hidden transfer fees or anything like that. The only catch, is that the lowest interest rate is paid off first so if I buy anything that it will sit collecting interest at the normal rate untill the check I wrote my self is paid off. I basically can't use the card, so I just locked it up in a safe lol. 

The other card I have is a discover card. They suck. They will call you non stop trying to get you to buy extra services and protections. Telling them to put you on the do not call list doesn't stop them either. I am about ready to cancle the card and file a report with the FCC about it, because its very irritating. The actuall card itself isn't bad, just the constant sales calls.

I think personally, I would say avoid credit cards while in school unless you know you are very good with money and know you can keep it under control.


----------

