View Full Version : Credit Cards
hotshot mcgee
02-16-05, 10:43 PM
as a college student with minimal income, but a completely clean credit record, i was wondering if any of yall could recommend a particular credit card i should try to apply for or ones i should avoid. i have a credit card that is still sent to my home in charlotte that i think is linked to my parents accounts, but i wanted something separate to help me establish a decent independent credit history. i realize i'll get a terrible rate and probably no benefits, but does anybody know of anything that may work? i appreciate it.
chipshot
02-16-05, 10:50 PM
as a college student with minimal income, but a completely clean credit record, i was wondering if any of yall could recommend a particular credit card i should try to apply for or ones i should avoid. i have a credit card that is still sent to my home in charlotte that i think is linked to my parents accounts, but i wanted something separate to help me establish a decent independent credit history. i realize i'll get a terrible rate and probably no benefits, but does anybody know of anything that may work? i appreciate it.
I'd start with those that have booths on campus that give free t-shirts and stuff. Then use it ONLY for things you have to puchase and can purchase with cash and pay it off immediately. If you don't have credit enough to get a rewards card there really isn't a bad card as long as you just use it to make purchases here and there that you can immediately pay off. I think my first card was a Capital One.
PantherPaul
02-16-05, 10:50 PM
Capital One Miles card. Use it wisely
Apply for a credit card with the bank where your accounts are...
chipshot
02-16-05, 10:53 PM
Capital One Miles card. Use it wisely
you can't get one as your first card
thats what I have by the way
KrackMonkey
02-16-05, 11:00 PM
get one with your bank. Something small that you wont drown in, like $500 limit.
Get a tank of gas and have a nice meal once a month, and send in the payment the week after you charge it.
Do this and it will help your credit. Anything else is just bad. You just end up in over your head. Especially being in college with no real source of income.
PhotoGuy
02-16-05, 11:01 PM
Get a second job, not a credit card. If you get a credit card, you will end up needing a second job to pay for it.
chipshot
02-16-05, 11:04 PM
Get a second job, not a credit card. If you get a credit card, you will end up needing a second job to pay for it.
don't listen to this guy
get your credit up now, thats what smart people do
Southern_Yankee
02-16-05, 11:06 PM
use it ONLY for things you have to puchase and can purchase with cash and pay it off immediately.
Keg of beer....check
full tank of gas...check
groceries...check
Friday night at the bar...check
...all the important stuff :xyzthumbs to hell with paying it off monthly...just make sure you send them at least one check a month for at least the minimum balance and on time. your credit score will be good. then when you grow up and after you have purchased a house and filled it with furniture and all kinds of other shit...all paid for w/ credit card(s) you can go banko and walk away from the debt and keep the stuff. USAirways does it every year...why cant you. :huh:
KrackMonkey
02-16-05, 11:08 PM
...all the important stuff :xyzthumbs to hell with paying it off monthly...just make sure you send them at least one check a month for at least the minimum balance and on time. your credit score will be good. then when you grow up and after you have purchased a house and filled it with furniture and all kinds of other shit...all paid for w/ credit card(s) you can go banko and walk away from the debt and keep the stuff. USAirways does it every year...why cant you. :huh:
The scary part is....I dont know how to argue against that because...well....you're exactly right.
Get a second job, not a credit card. If you get a credit card, you will end up needing a second job to pay for it.
Actually, if used wisely credit cards are a good financial tool. If you have a credit card or two, you don't have to leave all your savings in a passbook account for emergencies. This frees the money up for investments that can actually do something. Also, having credit cards give you the ability to take the highest possible deductibles on insurance, which saves you on premiums.
I see this daily...people will 30k++ on credit card debt..It's crazy...I call it people living above thier means.
philcantspel
02-16-05, 11:34 PM
go capital one.... and don't go over $1000... you won't pay much in interest/fees. They are willing to give a decent rate
hotshot mcgee
02-16-05, 11:35 PM
so i already have a credit card through wachovia, with a $1000 limit. that is the one that is sent to my home address that i currently use for expenses my parents will help me with or some sort of emergency situation if i happen to get into one. i was just looking for something i could put a little on every month and pay off. i have a job and i am generally good with money, so i'm not going to get into any trouble, i just wanted a more independent card that i could use for day to day things, instead of one that pretty much is a safety link to home. or is the bank one the best deal i'm gonna get?
dollface
02-16-05, 11:40 PM
Mr. King of Credit Cards TimTam can probably give you some good advice in reguards to which card you should get.
Southern_Yankee
02-17-05, 12:11 AM
so i already have a credit card through wachovia, with a $1000 limit. that is the one that is sent to my home address that i currently use for expenses my parents will help me with or some sort of emergency situation if i happen to get into one. i was just looking for something i could put a little on every month and pay off. i have a job and i am generally good with money, so i'm not going to get into any trouble, i just wanted a more independent card that i could use for day to day things, instead of one that pretty much is a safety link to home. or is the bank one the best deal i'm gonna get?
get yourself hooked up with a JC Penny's card and watch the chicks come flocking :xyzthumbs
MikeNinerHunt
02-17-05, 12:42 AM
get yourself hooked up with a JC Penny's card and watch the chicks come flocking :xyzthumbs
Is that how you pulled yours?
dollface
02-17-05, 12:55 AM
get yourself hooked up with a JC Penny's card and watch the chicks come flocking :xyzthumbs
JC Penny's? I don't think so. lol..
Southern_Yankee
02-17-05, 12:57 AM
Is that how you pulled yours?
bukkake paying dividends...:xyzthumbs
hotshot mcgee
02-17-05, 12:25 PM
so capital one is the king here? i gotta go to class.
chipshot
02-17-05, 12:30 PM
so i already have a credit card through wachovia, with a $1000 limit. that is the one that is sent to my home address that i currently use for expenses my parents will help me with or some sort of emergency situation if i happen to get into one. i was just looking for something i could put a little on every month and pay off. i have a job and i am generally good with money, so i'm not going to get into any trouble, i just wanted a more independent card that i could use for day to day things, instead of one that pretty much is a safety link to home. or is the bank one the best deal i'm gonna get?
Is it in your name or theirs? If it's in your name than your establishing credit already.
so capital one is the king here? i gotta go to class.
Just remember this: THERE IS NO SUCH THING AS A FIXED RATE CREDIT CARD!
I have a Bank of America card that gave me a 4.75 percent fixed rate on a balance transfer that is good until I pay it off. If you are gonna have a large credit card debt that is the way to do it. I used it for that a couple of years ago, I doubt they will do that now.
I have a Bank of America card that gave me a 4.75 percent fixed rate on a balance transfer that is good until I pay it off. If you are gonna have a large credit card debt that is the way to do it. I used it for that a couple of years ago, I doubt they will do that now.
Citicard will. They ask me if I want to do a balance transfer every time I call them - for any little thing.
If you have an expense credit card that's already in place, that's all you need. Don't bullshit yourself into thinking you need "x" so you put it on a card and your parents wouldn't approve - because they're right. If you just want to dick away some money, get a side job or sell something you don't need.
You don't want to get into that shit - that "I really gotta have this or else" shit. You really don't want to get into credit debt, and if you've got that one with the 1000 limit, you're already building credit, so you don't have to worry about having no credit.
It just sounds like you want to do something foolish without your parents knowing, and it sounds like a huge mistake. Instant gratification from a credit purchase is a sure way to be 25 years old and unable to do shit because you're still paying for when you were 22.
Citicard will. They ask me if I want to do a balance transfer every time I call them - for any little thing.
What kinda rate they offer? Is it for the life of the transfer?
Southern_Yankee
02-17-05, 01:26 PM
Instant gratification
Ahhhh....what a great feeling. Go out for an oil change and come home with a new ride. :banana:
chipshot
02-17-05, 01:28 PM
Ahhhh....what a great feeling. Go out for an oil change and come home with a new ride. :banana:
DURANGOWNED!
I have a Bank of America card that gave me a 4.75 percent fixed rate on a balance transfer that is good until I pay it off. If you are gonna have a large credit card debt that is the way to do it. I used it for that a couple of years ago, I doubt they will do that now.\
They also have a 0% offer. My balance was small, so I figured I'd let it float. I can pay it off at the end after reasonable spots in between.
What kinda rate they offer? Is it for the life of the transfer?
Zip. For the entire transfer, until you pay it off.
The catch is that any payment you make to the CC company after the transfer goes only towards the transferred balance until it's paid off. So if you have a balance that is already on the card, that balance grows with finance charges as usual until you can pay off the transfer entirely. That could get ugly for some folks.
But they've offered it to me three times now since November.
so capital one is the king here? i gotta go to class.
don't listen to these clowns...
Citibank Platinum Dividends Select
Zip. For the entire transfer, until you pay it off.
The catch is that any payment you make to the CC company after the transfer goes only towards the transferred balance until it's paid off. So if you have a balance that is already on the card, that balance grows with finance charges as usual until you can pay off the transfer entirely. That could get ugly for some folks.
But they've offered it to me three times now since November.
I may check that out.
chipshot
02-17-05, 02:03 PM
don't listen to these clowns...
Citibank Platinum Dividends Select
care to share why it's better?
The Brain
02-17-05, 02:11 PM
If you have an expense credit card that's already in place, that's all you need. Don't bullshit yourself into thinking you need "x" so you put it on a card and your parents wouldn't approve - because they're right. If you just want to dick away some money, get a side job or sell something you don't need.
You don't want to get into that shit - that "I really gotta have this or else" shit. You really don't want to get into credit debt, and if you've got that one with the 1000 limit, you're already building credit, so you don't have to worry about having no credit.
It just sounds like you want to do something foolish without your parents knowing, and it sounds like a huge mistake. Instant gratification from a credit purchase is a sure way to be 25 years old and unable to do shit because you're still paying for when you were 22.:applause:
this could have been taken care of in a pm to dollface. i mean the chick uses cigarette coupons and is too cheap to call Charlotte from Shelby (and instead pisses and moans about the company she needs to call not having an 800# and how it sucks to pay 5 cent for a local long distance call)... she must be a fiduciary wizard...but since I see that she only has attempted to attack me I will sum up her POV for you.
Don't get credit cards. They are there only to make you spend money on stuff you dont need. Don't get one, realize you need one, but dont get it out of protest. Save your money for life threateningly important stuff like wrestling tickets.
dollface can also help you with the steps to filing bankruptcy
hotshot mcgee
02-17-05, 02:16 PM
If you have an expense credit card that's already in place, that's all you need. Don't bullshit yourself into thinking you need "x" so you put it on a card and your parents wouldn't approve - because they're right. If you just want to dick away some money, get a side job or sell something you don't need.
You don't want to get into that shit - that "I really gotta have this or else" shit. You really don't want to get into credit debt, and if you've got that one with the 1000 limit, you're already building credit, so you don't have to worry about having no credit.
It just sounds like you want to do something foolish without your parents knowing, and it sounds like a huge mistake. Instant gratification from a credit purchase is a sure way to be 25 years old and unable to do shit because you're still paying for when you were 22.
haha. this really made me laugh. anyways, i'm not trying to sneak around my parents, i actually spoke to them about this a few days ago. it seems to me from what everybody says that i oughta just keep the card i have, which i guess works for me. it is in my name, so i am accumulating a good credit history, as i have paid it off in full every single month for 3 years now. i talked to a few people that told me if i had multiple cards that were paid off every month i would gain flexibility down the road (which when i read that again makes little sense to me), but maybe its more trouble than its worth. i was just tempted by all of those gay david spade commercials. honestly, i don't see how people my age get into such bad credit card debt. with scholarships, student loans, jobs, campus jobs, parents helping kids pay for school and other means of income, i seriously think the average college student would have to be rather foolish to slide into debt. maybe thats just me...
I had a $500 credit limit when I was in college and it was the best thing I could have had.
chipshot
02-17-05, 02:19 PM
i talked to a few people that told me if i had multiple cards that were paid off every month i would gain flexibility down the road
It makes some sense. If you want to buy a house they like to see three lines of credit. Credit card, auto loan and something else. I don't think it's required but I was told that it helps.
UNCdubya
02-17-05, 02:21 PM
haha. this really made me laugh. anyways, i'm not trying to sneak around my parents, i actually spoke to them about this a few days ago. it seems to me from what everybody says that i oughta just keep the card i have, which i guess works for me. it is in my name, so i am accumulating a good credit history, as i have paid it off in full every single month for 3 years now. i talked to a few people that told me if i had multiple cards that were paid off every month i would gain flexibility down the road (which when i read that again makes little sense to me), but maybe its more trouble than its worth. i was just tempted by all of those gay david spade commercials. honestly, i don't see how people my age get into such bad credit card debt. with scholarships, student loans, jobs, campus jobs, parents helping kids pay for school and other means of income, i seriously think the average college student would have to be rather foolish to slide into debt. maybe thats just me...
Apparently your parents supported you during your education.
The Brain
02-17-05, 02:21 PM
haha. this really made me laugh. anyways, i'm not trying to sneak around my parents, i actually spoke to them about this a few days ago. it seems to me from what everybody says that i oughta just keep the card i have, which i guess works for me. it is in my name, so i am accumulating a good credit history, as i have paid it off in full every single month for 3 years now. i talked to a few people that told me if i had multiple cards that were paid off every month i would gain flexibility down the road (which when i read that again makes little sense to me), but maybe its more trouble than its worth. i was just tempted by all of those gay david spade commercials. honestly, i don't see how people my age get into such bad credit card debt. with scholarships, student loans, jobs, campus jobs, parents helping kids pay for school and other means of income, i seriously think the average college student would have to be rather foolish to slide into debt. maybe thats just me...Trust me... I built up some NASTY ass credit card debit and had to get myself out f it. I just finished this past December of running up somewhere around 7K in debt with a big ass interest rate topped on it. That was only one card. I've had others in the past I'd run up and pay off after some struggle. While I have a kick ass credit rating now, I was damn close to getting myself in a situation I couldn't get out of. I now don't by anything outside of a car and eventually a house that I don't have the money to pay for. And when I have to my debit card works just as good in the cases in which I need to order things.
BTW- The "average" student doesn't alwys have theirparents help or scholarships, furthermore a student loan is worse than a credit card in some instances.
haha. this really made me laugh. anyways, i'm not trying to sneak around my parents, i actually spoke to them about this a few days ago. it seems to me from what everybody says that i oughta just keep the card i have, which i guess works for me. it is in my name, so i am accumulating a good credit history, as i have paid it off in full every single month for 3 years now. i talked to a few people that told me if i had multiple cards that were paid off every month i would gain flexibility down the road (which when i read that again makes little sense to me), but maybe its more trouble than its worth. i was just tempted by all of those gay david spade commercials. honestly, i don't see how people my age get into such bad credit card debt. with scholarships, student loans, jobs, campus jobs, parents helping kids pay for school and other means of income, i seriously think the average college student would have to be rather foolish to slide into debt. maybe thats just me...
Oh it don't take long, trust me, been there done that.
Sure, if you want to get a second card, bury it deep within your wallet and never use it, it might help. Good credit's great to have, and even better to never need.
One thing to consider is that your credit's really not helped by having larger potential spendable credit. You're probably fine where you are.
hotshot mcgee
02-17-05, 02:32 PM
maybe i've been hanging in an odd group, but i have friends who are on full scholarships academically, full scholarships for financial reasons, their parents are paying for all of it, they are paying for all of it through loans and grants, or any combination of the groups. that being said, nobody i know (including my friends who are financing their own way) is really in any substantial debt, as long as they are in state students. i may be completely missing something, but i get the impression it isn't that common to be steeped in debt. for an in state student totally financing their own way, they will most likely get a decent amount from the state, a lot of times they have work study jobs which pay well, and they are left with probably less than 10k in total debt in their four years, which when looked at comparitively, isn't all that bad. besides college debt is a totally different subject, i just don't see what in the world i could go buy in these next couple years to accumulate large credit card debt. like i said, maybe i'm just missing something.
Southern_Yankee
02-17-05, 02:33 PM
it also probalby wouldnt be a bad idea to get a few cards...charge small amounts on them...pay it off and close the account. having many revolving lines of credit open (when you are applying to buy something big)...even though paid off and you were always in good standing with the lender, can be a bad thing. Lenders view this as a potential liability because you could easily run out and max them all out after you've been approved for that big loan.
Southern_Yankee
02-17-05, 02:35 PM
i just don't see what in the world i could go buy in these next couple years to accumulate large credit card debt. like i said, maybe i'm just missing something.
check back here in a few years for bankruptcy how to's....:rofl:
maybe i've been hanging in an odd group, but i have friends who are on full scholarships academically, full scholarships for financial reasons, their parents are paying for all of it, they are paying for all of it through loans and grants, or any combination of the groups. that being said, nobody i know (including my friends who are financing their own way) is really in any substantial debt, as long as they are in state students. i may be completely missing something, but i get the impression it isn't that common to be steeped in debt. for an in state student totally financing their own way, they will most likely get a decent amount from the state, a lot of times they have work study jobs which pay well, and they are left with probably less than 10k in total debt in their four years, which when looked at comparitively, isn't all that bad. besides college debt is a totally different subject, i just don't see what in the world i could go buy in these next couple years to accumulate large credit card debt. like i said, maybe i'm just missing something.
I have to assume then that you live on campus, eat exclusively on campus within the meal card system, do not drive a car, do not leave campus for entertainment, do not buy clothes, music, etc., OR someone else is paying all of your non-school bills for you.
The Brain
02-17-05, 02:46 PM
I have to assume then that you live on campus, eat exclusively on campus within the meal card system, do not drive a car, do not leave campus for entertainment, do not buy clothes, music, etc., OR someone else is paying all of your non-school bills for you.That's what i was thinking. I got to where, I'd just use mine for gas, a meal here and there, a beer here and there, then I thought I'd splurge and buy a new PC, because mine was getting old... and slowly it snowballed.
That's what i was thinking. I got to where, I'd just use mine for gas, a meal here and there, a beer here and there, then I thought I'd splurge and buy a new PC, because mine was getting old... and slowly it snowballed.
My point exactly... :xyzthumbs ....it does not take long and you are buried.
Shrapnel
02-17-05, 02:54 PM
Whatever you do, don't charge a New Hitachi H700 Excavator/TracHoe on a credit card. It takes months to pay that bastard off.
It is generally not a good idea to buy a second vehicle with your credit card or to perform home improvements with them. Having a high balance on a credit card will kill your credit even if you are never late on your payments.
It's awfully easy to be in school debt. Some people get schollies or loans and assume that they can just blow that money and not have to work at all during college or over summer.
hotshot mcgee
02-17-05, 03:32 PM
I have to assume then that you live on campus, eat exclusively on campus within the meal card system, do not drive a car, do not leave campus for entertainment, do not buy clothes, music, etc., OR someone else is paying all of your non-school bills for you.
here's my setup:
i have a scholarship that pays around half and my parents pay the rest.
i live off campus.
i have a job which i use to pay about half of my living expenses (rent, bills, etc.), my parents pay the rest.
i have a car, which is paid off thanks to my sister
i buy a lot of things with whatever money i have left over, and i have a decent amount of money saved which i use here and there for larger purchases.
i'll admit i am in a very privilaged situation, but i'm not begging mommy and daddy for a check every week, that is for sure.
well, we're certianly off topic now, eh?
here's my setup:
i have a scholarship that pays around half and my parents pay the rest.
i live off campus.
i have a job which i use to pay about half of my living expenses (rent, bills, etc.), my parents pay the rest.
i have a car, which is paid off thanks to my sister
i buy a lot of things with whatever money i have left over, and i have a decent amount of money saved which i use here and there for larger purchases.
i'll admit i am in a very privilaged situation, but i'm not begging mommy and daddy for a check every week, that is for sure.
well, we're certianly off topic now, eh?
No not really....I think what most of us have been saying is to just be careful, it is sooo easy to get comfortable slapping that card down to pay for everything from a happy meal at McD's to a night on the town; and with your "limited" income you just have to be wise.....wisdom trumps knowledge.
vpkozel
02-17-05, 03:39 PM
Get it and send it to me. I'll go get shitfaced once a month and use it to pay the tab. That way you can be sure you won't abuse it.
hotshot mcgee
02-17-05, 03:39 PM
yeah, i got what you mean. i just wanted to play devil's advocate for a bit to see all the experiences and explanations. however, i still don't know if i'm gonna apply for another card, i think I may and just "keep it buried" as somebody said earlier.
Get it and send it to me. I'll go get shitfaced once a month and use it to pay the tab. That way you can be sure you won't abuse it.
:rofl: :rofl: :rofl:
yeah, i got what you mean. i just wanted to play devil's advocate for a bit to see all the experiences and explanations. however, i still don't know if i'm gonna apply for another card, i think I may and just "keep it buried" as somebody said earlier.
:xyzthumbs
hotshot mcgee
02-17-05, 03:41 PM
Get it and send it to me. I'll go get shitfaced once a month and use it to pay the tab. That way you can be sure you won't abuse it.
hey vp,
i'm writing a paper on biracial alliances in the 1800s in north carolina today. know anything? :laugh1: Also, there is one on the fall of tsarism due next tuesday, I may have to start a thread again.
vpkozel
02-17-05, 04:27 PM
What's happening? How's you do on your papers last semester? You should definitely start a thread on the tsarism thing. You gonna be going to the dook game? You better be.
hotshot mcgee
02-17-05, 08:33 PM
on my two air power papers, i got 2 A's. the tsarism paper i'll start a thread sunday maybe. and yes, i'll be at the dook game.
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