# Credit cards



## Ricker (Nov 23, 2007)

I'm thinking about getting a credit card soon. Does anyone have any input on what I should get. I guess I will fall under the student category. I don't go to school but do work. Discover as sent me two things in the mail about there student cards. first 6 months interest free and after 6 depending on were i stand it could be any were from 13.99%-19.99%. Is that good for being young? Or am I better off with like a walmart credit card? Please all input is welcomed bad or good. Thank you


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## hXcChic22 (Dec 26, 2009)

Discover is good. They don't charge an annual fee, which is great. I don't know about student cards but our regular Discover also has cashback bonus and we have 12 months no interest. Just make sure you pay everything off (and make more than minimum payments) before you reach the end of your "interest free" six months.


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## BV77 (Jan 22, 2005)

only advise I have is pay it OFF every month.


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## gypsity (May 19, 2010)

check with your local banks and credit unions, I know here in my area our bank offers a credit card with a 9.9% interest rate and no annual fee. But you have to have a checking account there to apply for the card. Makes more sense to do all your banking @ one place to me where deals like that are available.


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## Ricker (Nov 23, 2007)

Thanks guys. Ya I want to start to build my credit this year. I bank with a credit unionI will look into credit cards through them I do have a debit already with them so like you said having a checking will help


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## Ricker (Nov 23, 2007)

Looked it up my bank offers a VISA® Platinum with REWARDS with 7.99% APR with no annual fees . Going to talk to my dad and then to the bank. My bank will report to credit bureaus correct?


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## emc7 (Jul 23, 2005)

> only advise I have is pay it OFF every month


Best advice. You won't be profitable for them, but you build a credit history and having a card is invaluable. 

Cash lines take 3 times as long, you risk getting mugged. With a card you can pay for a tow or a car repair. 

Shop around for best terms, but don't apply to too many places. It lowers your score each time. A student card may require proof of school enrollment or a co-signer. So read the fine print before applying. Its better to get a card on your own (no co-signer) if you can. If you can't get credit card, you can get Visa or MC debit linked to your bank account. Usually free if you keep a minimum balance, again shop around, but don't move your accounts too often. Age of bank account is a plus. If you get a debit card, be super-careful. Overdraft fees will eat you alive. 

All banks report to credit bureaus. Which bank?. I like bank of America cards, but people who have b of A bank accounts should not have b of a credit cards. They connect the bank account to the card and it causes all sorts of problems.


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## Ricker (Nov 23, 2007)

I bank with ORNL here is the link www.ornlfcu.com That is one thing I plan on doing it paying off my card. I've seen what has happen when you dont. Parents and friends. I only plan on getting one card. Should it be easy to get one since I have no credit? On a side not I did go to my bank and signed a paper last week were I can no longer overdraft I just get declined. 

PS: On the tabs I fall under Aspire teens early 20s


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## emc7 (Jul 23, 2005)

credit unions are usually good. Check them out if you can. You never know until you apply. It used to be a slam dunk for anyone with no history to get a card, now, not so much. My in-college sister got declined for a air-tran visa card, but gets pre-approved discover offers sent to a fictitious name she once used for a online site. 

I heard something like 1 in 20 young people who should have no credit history actually have files with the bureaus. Mostly because relatives and acquaintances have stolen their SSN, but also strangers who bought an "ID" number from a "credit rehabilitation" service and illegals with fake IDs. Also entanglements with people with same/similar names. 

Apply for one card, if you get turned down, request a credit report (they are required to give you one). You can request 1 a year anyway from each of the major services.


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## Ricker (Nov 23, 2007)

I'm going to go monday and talk to them about it and their 500 dollar loans


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## TheOldSalt (Jan 28, 2005)

In the book of revelation, the the "number of the name" of the beast is 666.
Number of the name. What an odd way to say something, Isn't it?

The guy who had that vision wrote about what he saw, but the english language hadn't yet been invented. Therefore, he had to call it as he saw it. Being an educated sort living in that part of the world at that time, he was familiar with the written word of the lands around him. When he saw an S, he saw a phoenecian 6. When he saw an A, he saw a sumerian 6. When he saw VI, he saw a roman numeral 6. When he saw them all together, he saw 666, whereas we today would see it as VISA.

This is why it can be truly said that the credit card is the most infernal thing ever invented.

Do be extremely careful. Credit cards are seductively easy to use, and over-use, and the next thing you know, you're screwed.


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## Ricker (Nov 23, 2007)

Plan on it thanks. Im hoping I can set a max on the card if not I may wait awhile for one


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## Ricker (Nov 23, 2007)

Well went to the bank today and was turned away for a credit card and a 500 dollar loan. They told me since I never have had a loan or credit card they couldnt approve me with out a cosigner. Makes sense but then again doesnt make sense. Well guess I'll look at discover


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## uglyfishyay (Jan 16, 2010)

just make sure you tell them your not a student or when they find out they will hike up your intrest rates to alot. it happened to my coworker whos 19. they sent her a student form she filled it in they approved it and a month later they were like due to our records your not a student so all the stuff they adverstised was null and her intrest went up to 29.9%. so good luck.


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## Ricker (Nov 23, 2007)

Thanks for the information... Im trying to get ahold of discover but seems all their representatives are busy.


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## Albino_101 (Aug 14, 2008)

go for chase!


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## TBS_Dave (Oct 6, 2008)

If you are wanting to build some credit, have your parent(s) add you as a authorized user on one or more of their cards. The caveat to this being you want to make sure your parent(s)'s credit is in decent shape or they at least keep that card in good standing, because if they aren't you're credit will be quickly destroyed. The other option is to get the co-signer for a loan. That has fewer issues w/ the other person messing up your credit because you will be the one making the payments. Since it isn't a revolving line (like a credit card) the other person can't continue to use it and screw you over. 

As for interest rate, expect to pay a higher rate, you are young w/ little to no credit history, they don't know what your intentions (no matter how well intentioned they truly are) are. For all they know you don't know how to pay bills. Those that do pay their bills have to help make up for those that don't...welcome to life. 

Pay well, keep a small loan open for full term (you won't pay that much extra in finance charges/interest on a small loan, and you will be getting on the right track. Credit takes some time to build (more than the 6 months the one person suggested), however it only takes a few months to mess it up. Creditors are looking at payment history, yes 6 months ago is history, but it really isn't that long ago.

My personal recommendation is to get a co-signer and go for the small loan. Fewer risks and temptations than with a credit card (which it is sounding like you'd need someone else to sign w/ you for that as well).


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## emc7 (Jul 23, 2005)

You could try a store card. They usually have easier requirements (and higher interest rates and lower limits) because they want you to shop there. Used to be it would be only good in one place, but my target and macy's cards turned into visas and my dillards turned into a no annual fee amex.


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## Ricker (Nov 23, 2007)

Thanks guys next time I go to Walmart I may apply for a store credit card. Is it true every time I apply for a card or something to do with my credit my credit score can be affected? Ive only applied once for a credit card and twice for a phone. T mobile denied me while Sprint said come on board.


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## emc7 (Jul 23, 2005)

yes, multiple applications can hurt. It looks like you need money. lol. Still, I say keep trying until you get one. Just don't apply for more than one at a time. It might cost you both. The longer you have a bank account and a cell phone, the easier it will be. Take your reject letter and follow the instruction for the free credit report. make sure there is nothing erroneous in your file. The authorized user thing used to be a great way to build a credit history. The history of any card you could use counted as yours. But they change the way they calculate the scores. It may still help some, but its no longer part of your history. You could well get a better rate with a co-signer, but see if you can a card on your own before you go that route. Save that option for when you really need it, like a car or home loan.


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## Ricker (Nov 23, 2007)

Thanks again. Well I want to pay my phone bill every month with my credit card and about 50 more dollars in charges and pay it all in full each month. I never want to carry over... but hey maybe I will be able to pay my sprint bill through Walmart.


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