Student Credit Cards

[BigBrianC]

Hey everyone,

I'll be attending The University of Georgia this fall (not a question about that) and I plan on taking out loans to pay for it, as well as some scholarship $ i have (Use debt as an asset. Going to use all resources and people possible, etc.) and I was wondering if I should take out a student credit card with no annual fee, use it to pay for gas (2% cash back with Discover), pay it off immediately in order to build up credit. What are thoughts on credit cards, especially those designed for students?

 

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[DeletedUser394]

Does this have anything to do with entrepreneurship/startups? Wrong section dude.

Anyway, what is the question exactly? If you're able to get approved for a card, go for it. If not, you're going to have to look at getting a secured card.

There is no negative to this if you have self control.

Hope you're not getting an Arts degree.

Good luck.

 

[JDM]

Get a credit card with a very low limit and pay it off immediately to build credit. Beyond this, don't touch credit cards unless there are exceptional circumstances (buying inventory for a business as a short term play etc).

 

[blackhat]

take out a student credit card with no annual fee, use it to pay for gas (2% cash back with Discover), pay it off immediately in order to build up credit

If that is your plan and you have the self control to stick to it, there is no reason not to.

 

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[BigBrianC]

Thanks all. I def have the self control to do it. Gonna start looking at my best options.

Also yeah, I'm majoring in Poetry. What's wrong with that?

lol jk I'm double majoring in Computer Science & Finance.

 

[blackhat]

Do you have a credit history? If you have no history at all Discover will most likely reject you for any card, even the student card. You might be better off going with a card from your current bank or a local bank to start.

It doesn't hurt your score too much to try, just make sure if you don't get it that you know you will get the second one you apply for. More than two hard inquiries will really start to add up.

 

[BigBrianC]

I've got no credit history, I've only just turned 18. Thanks, I'll def make sure I have a realistic shot to get one before I apply.

 

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[DeletedUser394]

Realistically you're going to probably have to get a secured card.

Your second best bet is to get a card through your bank, assuming you've been a customer for a while. That's how I got my first card.

If you have any kind of job or income, that'll help a bunch.

Capital One will also give cards to just about anyone (they gave me one lmao), so there's that.

Got my first card around 2-3 years ago. My sixth card is in the mail now. No idea why I was able to open so many accounts so quickly, but eh, not complaining.

Good luck. Please update when something happens.

 

[BigBrianC]

Sure. I'll look at student cards through my bank and also Capital One. I'll have a federal work study job this fall, so I may have to wait until then. #1 priority is no annual fee.

 

[DBDude]

I've been using Discover for about 3-4 years now. They were the only one to let me get a credit card as a student with no prior credit history. No annual fee and 5% back adds up to a nice $10-20 back just for using their card. They currently have a promo if you refer a friend we both get $50. If your interested let me know I can send you the referral link

 

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[DeletedUser394]

Any luck getting a card?

Just got my 7th today (wtf), so it can't be that difficult to get credit.

 

[DeletedUser394]

I've also been rejected by Walmart twice... bastards.