Student Credit Cards

[ndnbolla 10+ year member]

Now that I have a decent paying job, I was thinking of getting a Student Credit Card to establish some credit as well as paying in advance for things that I don't exactly have the cash money for yet.

I am pretty new to credit however I do know a little about APR and stuff like that. If I remember correctly, APR is the interest rate you would have if you didn't pay your balance off in time.

So, I wanted to know what your take is on the student cc's and what are your suggestions on it.

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[nVRuckus 5,000+ posts]

dont buy shit unless you have the money to pay it off. Thats how most students get suckered in next thing you know your just paying interest and it wiell take 20 years to pay off your card.

 

[dkguitarist 5,000+ posts]

x2. i'm paying off my xbox360. no interest til 08 tho. tehe. bb card ftw. 2nd time i've used it in 4 years.

 

[LeofromtheH 10+ year member]

i was looking into cc's as well, have yet to use one but i do have my own checking/debit acct.

but i've always been the type to wait till i have money to buy something. i think its jsut the way i was raised, that 'debt is bad!' lol

 

[Beat_Dominator 5,000+ posts]

I was in the same boat a few years ago, I just got a CC with my bank (Bank of America) to go along with my checking account there. Now I buy a meal every few days, and pay off the card through BofA's web site a few days later by transferring the funds from my checking acct. to the CC.

 

[K3VIN 10+ year member]

dont buy shit unless you have the money to pay it off. Thats how most students get suckered in next thing you know your just paying interest and it wiell take 20 years to pay off your card.

x2

 

[mikeyboc 10+ year member]

CC's FTL! I have a couple, but only use them for gas every now and then to keep my payment history good. Paid off every statement. DEBT IS BAD!

 

[fakename 10+ year member]

how much does it cost to have a cc? or does it?

 

[nferra2 10+ year member]

I am going to have to disagree that debt is bad. Most CC debt is bad. However, If you have an oportunity to pay cash for your house or take out a 6% loan, you should take out the loan and invest the money, becuase you surely can get more than a 6% return. In that sense debt is good. Now again, CC debt is bad, I use credit to keep cards active, and to take advantage of interest free financing ex. my computer, 42inch sony.

 

[dkguitarist 5,000+ posts]

how much does it cost to have a cc? or does it?

just fill out an application, get approved, then they'll send you a card, then you gotta call a number to activate the card.

cancel anytime. no obligation. but keep in mind the more you have, the worse it hurts your credit actually. so only have 1-2 if you must have any.

 

[mikeyboc 10+ year member]

I am going to have to disagree that debt is bad. Most CC debt is bad. However, If you have an oportunity to pay cash for your house or take out a 6% loan, you should take out the loan and invest the money, becuase you surely can get more than a 6% return. In that sense debt is good. Now again, CC debt is bad, I use credit to keep cards active, and to take advantage of interest free financing ex. my computer, 42inch sony.

Considering the thread is titled "Student Credit Cards", that is what the "debt is bad" comment is oriented towards.

 

[FoxPro5 5,000+ posts]

The interest rates on those a probably like 20-25%!!! If you intend to pay your bill in full on time, they are great for building credit. If you don't use your head and control your spending....you will get your *** handed to you. Be smart.

 

[mikeyboc 10+ year member]

The interest rates on those a probably like 20-25%!!! If you intend to pay your bill in full on time, they are great for building credit. If you don't use your head and control your spending....you will get your *** handed to you. Be smart.

 

[ndnbolla 10+ year member]

Oh I am definetly responsible when it comes to money, car audio spending is the exception //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif, but anyways...

I will be paying off my balance in full every month.

I just hate that when you see something at a really good price but you can't purchase it right then because your paycheck won't come til Friday...

example, I saw a ridiculous deal on a pair of 10w6v2's (only 265+shipping... totally legit!) but I didn't have the $265 on me.

Of course I have the money now but that deal is loongg gone.

 

[4runnercrazy 10+ year member]

what i would do is get a CC and then just buy mabye 50 bucks a month off of it and then just build up your credit score