Do I need a “student” credit card?
I’m going to college next year and I need to build up my credit… what kind of card should I get? Do I need to go through my bank? Or can i just get a Visa? Do I have to get a “student” card? If I pay off the balance in full every month, will I avoid interest? Will that still help me create credit?
Be VERY careful with those! The interest rates are terrible! When you get a card, be sure to use it wisely and pay off the balance each month unless you want to incur some ungodly interest. Once you make regular payments for a year without fail, your credit will be established and you will eventually get offers with much better rates. Just be careful and don’t go overboard….know what you’re doing before you spend!
go for the Discover student card
Yes, get a student credit card that offers good rewards. There are a couple *fantastic* ones. The Citi mtvU card is so good (5% back at restaurants, book stores, movie theaters, etc.; 1% elsewhere) that I wish I could get it (not a student). The Citi Driver’s Edge for Students is also very good (3% back at gas/grocery/drug stores; 1% elsewhere).
However, to quickly see which student rewards credit card will pay you the most in rewards for your expected spending pattern, you can use this rewards calculator:
Your strategy should be to funnel most/all of your normal spending through your credit card(s) and pay your balance in full each month. That way you’ll build your credit quickly, avoid interest, and earn maximal rewards.
You have a few options if you’re trying to build / establish your credit with a credit card. There’s actually a wide variety of credit cards designed specifically for people with poor / no credit. But since you’re going to college, I would highly recommend a ’student credit card’ instead:
Although both types of cards will help your build and improve your credit score– you’ll pay less fees if you get approved for a student credit card. Otherwise, these are your other options:
Hope this helps. GOOD LUCK!