Student Credit Card

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LOLyer
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Student Credit Card

Postby LOLyer » Mon Apr 09, 2012 9:09 pm

In a tight space right now; need a credit card with no annual fee and a high limit, preferably. Oh yeah, I have no income and a negative net worth (naturally); although I could probably get away with embellishing a little bit on income (i.e. "My tax return says I made 10,000 last year so that's what I put as annual income"). I can't deal with money issues right now with finals looming. I'm waiting on some money to come in and it's taking much longer than expected.

Halp!

BeenDidThat
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Re: Student Credit Card

Postby BeenDidThat » Mon Apr 09, 2012 9:20 pm

LOLyer wrote:In a tight space right now; need a credit card with no annual fee and a high limit, preferably. Oh yeah, I have no income and a negative net worth (naturally); although I could probably get away with embellishing a little bit on income (i.e. "My tax return says I made 10,000 last year so that's what I put as annual income"). I can't deal with money issues right now with finals looming. I'm waiting on some money to come in and it's taking much longer than expected.

Halp!


Ask a friend while handing them collateral?

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Mr. Pancakes
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Re: Student Credit Card

Postby Mr. Pancakes » Mon Apr 09, 2012 9:24 pm

LOLyer wrote:In a tight space right now; need a credit card with no annual fee and a high limit, preferably. Oh yeah, I have no income and a negative net worth (naturally); although I could probably get away with embellishing a little bit on income (i.e. "My tax return says I made 10,000 last year so that's what I put as annual income"). I can't deal with money issues right now with finals looming. I'm waiting on some money to come in and it's taking much longer than expected.

Halp!

http://www.creditcards.com has a thing that lets you compare cards and see how much interest and shit they offer.

crv8623
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Re: Student Credit Card

Postby crv8623 » Mon Apr 09, 2012 9:26 pm

Donate Plasma

goodolgil
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Re: Student Credit Card

Postby goodolgil » Tue Apr 10, 2012 1:00 am

Do you have a credit history?

Discover usually starts people off with high limits compared to others.

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zeth006
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Re: Student Credit Card

Postby zeth006 » Tue Apr 10, 2012 2:41 am

A few cards I recommend exploring


AMEX Express True Earnings Card - Requires you keep paying for Costco membership, gives you 3% cashback for gas, 2% cashback for restaurants and plane tickets, and 1% everything else.

AMEX Blue Cash Everyday Credit Card - Gives you 3% cashback on groceries, 2% on gas and department stores, 1% cashback everything else.

Chase Freedom - Nice to have around for the rotating categories. 1% cashback everything else.

BofA Bankamericard - Good for the 3% cash back on gas and 2% cashback on groceries. 1% cashback everything else.

Amazon Chase Card - You get the equivalent of 3% cashback on all Amazon purchases in the form of Amazon points which I believe you can cash in for a check. I get most of my books used from Half.com so I've found this card to be so-so.


Hope that helps.

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LSATmakesMeNeurotic
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Re: Student Credit Card

Postby LSATmakesMeNeurotic » Tue Apr 10, 2012 2:24 pm

zeth006 wrote:A few cards I recommend exploring


AMEX Express True Earnings Card - Requires you keep paying for Costco membership, gives you 3% cashback for gas, 2% cashback for restaurants and plane tickets, and 1% everything else.

AMEX Blue Cash Everyday Credit Card - Gives you 3% cashback on groceries, 2% on gas and department stores, 1% cashback everything else.

Chase Freedom - Nice to have around for the rotating categories. 1% cashback everything else.

BofA Bankamericard - Good for the 3% cash back on gas and 2% cashback on groceries. 1% cashback everything else.

Amazon Chase Card - You get the equivalent of 3% cashback on all Amazon purchases in the form of Amazon points which I believe you can cash in for a check. I get most of my books used from Half.com so I've found this card to be so-so.


Hope that helps.


The amazon chase card also gives a percentage back for gas and grocery purchases as well. I use my AMEX blue everyday for groceries and my chase card for everything else, since I buy something on amazon at least once a month.

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zeth006
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Re: Student Credit Card

Postby zeth006 » Tue Apr 10, 2012 4:24 pm

LSATmakesMeNeurotic wrote:
zeth006 wrote:A few cards I recommend exploring


AMEX Express True Earnings Card - Requires you keep paying for Costco membership, gives you 3% cashback for gas, 2% cashback for restaurants and plane tickets, and 1% everything else.

AMEX Blue Cash Everyday Credit Card - Gives you 3% cashback on groceries, 2% on gas and department stores, 1% cashback everything else.

Chase Freedom - Nice to have around for the rotating categories. 1% cashback everything else.

BofA Bankamericard - Good for the 3% cash back on gas and 2% cashback on groceries. 1% cashback everything else.

Amazon Chase Card - You get the equivalent of 3% cashback on all Amazon purchases in the form of Amazon points which I believe you can cash in for a check. I get most of my books used from Half.com so I've found this card to be so-so.


Hope that helps.


The amazon chase card also gives a percentage back for gas and grocery purchases as well. I use my AMEX blue everyday for groceries and my chase card for everything else, since I buy something on amazon at least once a month.



Good point, forgot to include that.


I'm thinking about canceling my Amex costco card and switching to the blue card, haven't gone to Costco in the longest time. Not entirely clear as to whether doing that will hurt my credit score.

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LSATmakesMeNeurotic
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Re: Student Credit Card

Postby LSATmakesMeNeurotic » Tue Apr 10, 2012 4:32 pm

zeth006 wrote:Good point, forgot to include that.


I'm thinking about canceling my Amex costco card and switching to the blue card, haven't gone to Costco in the longest time. Not entirely clear as to whether doing that will hurt my credit score.


I've always been told to keep them open if you've had them for a while because otherwise it affects the age of your credit history. If it's a rather new card, it shouldn't hurt you.

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zeth006
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Re: Student Credit Card

Postby zeth006 » Tue Apr 10, 2012 4:46 pm

LSATmakesMeNeurotic wrote:
zeth006 wrote:Good point, forgot to include that.


I'm thinking about canceling my Amex costco card and switching to the blue card, haven't gone to Costco in the longest time. Not entirely clear as to whether doing that will hurt my credit score.


I've always been told to keep them open if you've had them for a while because otherwise it affects the age of your credit history. If it's a rather new card, it shouldn't hurt you.


Define "while." I got it back in summer of 2009.

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LSATmakesMeNeurotic
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Re: Student Credit Card

Postby LSATmakesMeNeurotic » Tue Apr 10, 2012 10:15 pm

zeth006 wrote:
LSATmakesMeNeurotic wrote:
zeth006 wrote:Good point, forgot to include that.


I'm thinking about canceling my Amex costco card and switching to the blue card, haven't gone to Costco in the longest time. Not entirely clear as to whether doing that will hurt my credit score.


I've always been told to keep them open if you've had them for a while because otherwise it affects the age of your credit history. If it's a rather new card, it shouldn't hurt you.


Define "while." I got it back in summer of 2009.


Is that your oldest card? If it is, then it will hurt your credit to cancel it. For instance, I have one that I got in 2007, and then the next one wasn't opened until this year. My credit history would take a HUGE hit because I don't have anything that has been open nearly as long as the first one.

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zeth006
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Re: Student Credit Card

Postby zeth006 » Tue Apr 10, 2012 10:27 pm

LSATmakesMeNeurotic wrote:
zeth006 wrote:
LSATmakesMeNeurotic wrote:
zeth006 wrote:Good point, forgot to include that.


I'm thinking about canceling my Amex costco card and switching to the blue card, haven't gone to Costco in the longest time. Not entirely clear as to whether doing that will hurt my credit score.


I've always been told to keep them open if you've had them for a while because otherwise it affects the age of your credit history. If it's a rather new card, it shouldn't hurt you.


Define "while." I got it back in summer of 2009.


Is that your oldest card? If it is, then it will hurt your credit to cancel it. For instance, I have one that I got in 2007, and then the next one wasn't opened until this year. My credit history would take a HUGE hit because I don't have anything that has been open nearly as long as the first one.



Ah, crap. I upgraded my generic BofA card to a cashback one months ago. I got it years ago during college. The AMEX card is the second oldest one. Hopefully the BofA upgrade didn't hurt my score. If the AMEX card is the oldest one, we'll have to find out if the cancellation is going to hurt my score...

sequins
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Re: Student Credit Card

Postby sequins » Sat May 05, 2012 3:19 pm

Try talking to the manager at your bank - (I'm super friendly and chat all the time with mine, and he helped me 'optimize' my application and helped me get my card (I was normally automatically denied) I.e. maybe he would let you add your grants as income and stuff like that.

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zeth006
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Re: Student Credit Card

Postby zeth006 » Sat May 05, 2012 8:06 pm

sequins wrote:Try talking to the manager at your bank - (I'm super friendly and chat all the time with mine, and he helped me 'optimize' my application and helped me get my card (I was normally automatically denied) I.e. maybe he would let you add your grants as income and stuff like that.


I'm good for now. Realizing there's no need for another credit when I have enough to manage.


The next time I'm going to get another credit card is probably when I start working and raking in the big bucks. Who knows, maybe I'll end up getting a Centurion card. I can already see myself having a net worth of millions and credit card companies everywhere begging to be graced by my almighty spending power, $500 annual fee or not. :lol:

VES
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Re: Student Credit Card

Postby VES » Sat May 05, 2012 8:15 pm

Look carefully at card applications. Not all require you to state income. Some ask something to the effect of "how much money will you have this year with which to pay your bill." Take into account the student loans for which you're eligible.

If your credit score is pretty good, chase offers pretty high limits, and I think the Slate card currently has 0% interest for the first 15 months, if the float is something that might be helpful.




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