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Started By
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First credit card for college student, no credit history
Posted on 3/10/15 at 7:46 am
Posted on 3/10/15 at 7:46 am
Any suggestions on a decent card to apply for? Trying to locate something without parental cosign (student is 21 yrs old).
Actually there is a 2 1/2 year credit history for a student loan. Payment deferred.
Actually there is a 2 1/2 year credit history for a student loan. Payment deferred.
This post was edited on 3/10/15 at 8:18 am
7
Posted on 3/10/15 at 8:24 am to The Mick
You should start paying something small (15-20$) to that student loan every month. I promise you, you will thank me for this advice later.
If you qualify, the Discover card was a great one for me and I'd recommend it.
If you don't think you'll qualify, look into getting a USAA membership. They have a guaranteed approval rewards card. That is what I started on with a 300$ limit and worked my way up
If you qualify, the Discover card was a great one for me and I'd recommend it.
If you don't think you'll qualify, look into getting a USAA membership. They have a guaranteed approval rewards card. That is what I started on with a 300$ limit and worked my way up
Posted on 3/10/15 at 8:33 am to GenesChin
quote:This is for a family member, not me - but Ive never thought of that. Did that boost your score?
You should start paying something small (15-20$) to that student loan every month. I promise you, you will thank me for this advice later.
quote:With only the student loan I'm skeptical and don't want the inquiry if it wont be approved. USAA is a good idea, do you know if a grandchild of military is eligible?
If you don't think you'll qualify, look into getting a USAA membership. They have a guaranteed approval rewards card. That is what I started on with a 300$ limit and worked my way up
Posted on 3/10/15 at 9:06 am to The Mick
I opened a Discover card when I was young. Still have it. Nothing special, but relatively decent rewards and a ton of +5% reward websites that I often frequent.
Posted on 3/10/15 at 9:06 am to The Mick
Are the student loans in his name or the parents name? That is one thing my parents did right, everything was in my name so I got the full benefits of the credit score.
As far as credit cards, are you local in BR? If so, Campus Federal has a good beginner credit card.
As far as credit cards, are you local in BR? If so, Campus Federal has a good beginner credit card.
Posted on 3/10/15 at 9:12 am to The Mick
If you are worried about getting declined for a normal card then look into a cash secured card to build credit first.
Posted on 3/10/15 at 9:14 am to slackster
quote:
I opened a Discover card when I was young.
SAme. the first credit card I ever got on my own was a Discover card that had a maximum limit of like $300 or something paltry like that. I used it maybe once a month for gas then paid it off.
Posted on 3/10/15 at 9:34 am to The Mick
Get something through his bank with no annual fee to start his credit history.
Once he familiarizes himself with the card and shows restraint, move onto a good rewards card that makes sense for his spending.
Once he familiarizes himself with the card and shows restraint, move onto a good rewards card that makes sense for his spending.
Posted on 3/10/15 at 10:00 am to Jcorye1
quote:No, they're in his name.
Are the student loans in his name or the parents name?
I don't live in BR but he does, thanks for the advice.
Posted on 3/10/15 at 4:34 pm to The Mick
The Discover student card was a great starter CC
Posted on 3/10/15 at 5:36 pm to The Mick
Call the student loan place. Should be reported as being paid off to a degree I believe
He is eligible for USAA with a grandparent who served. Look on Google what would be required but the answer is he should get USAA and most would recommend doing all his insurance through them. I've also been satisfied with banking with them
He is eligible for USAA with a grandparent who served. Look on Google what would be required but the answer is he should get USAA and most would recommend doing all his insurance through them. I've also been satisfied with banking with them
Posted on 3/10/15 at 6:29 pm to GenesChin
Capital One has a card geared for students. Starts them out with a $500 credit limit. Unsecured.
Posted on 3/10/15 at 11:25 pm to The Mick
I'm using the capital one platinum secured card. Reports on the 6th of each month to all credit bureaus and I've raised my score 120 points in a little over a year.
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