Figured this actually might be a useful place for help.

 

I've only ever had one credit card, and I have it together with my dad. I've been looking at getting one in just my name to help build my credit. My student loan is really the only credit history I'm building. I don't plan to use my credit card a ton, and plan, as of now, at least, to pay off the balances. Are there any tips or recommendations?

Go online to something like mint.com and see what is out there. People who keep balances or spend alot usually try to keep the APR low. If you are paying off the balance monthly you may want to look at something that gives you points, or an Amex. Either way, dont apply for a bunch, shop around and THEN apply.

Don't get one with a limit higher than 500 bucks. It becomes too easy of a payment option otherwise.

If you have any choice in the matter, don't carry a balance.

No annual fee is the most important point.

 

Secondly listen to Gage. Never ever carry a balance.

 

Third, look for a card that offers rewards. ESP something hat gives you $25 for signing up or something.

 

Personally I pay for just about everything with credit cards And I have for a decade. I'm good with it though, so I've never missed a payment never paid a cent in interest and theyve paid me over $1000 in rewards.

 

Theres no big diffrernce between cards or brands for most people, just don't pay interest and don't buy extra stuff because you have a card

No annual fee is the most important point.

 

Secondly listen to Gage. Never ever carry a balance.

 

Third, look for a card that offers rewards. ESP something hat gives you $25 for signing up or something.

 

Personally I pay for just about everything with credit cards And I have for a decade. I'm good with it though, so I've never missed a payment never paid a cent in interest and theyve paid me over $1000 in rewards.

 

Theres no big diffrernce between cards or brands for most people, just don't pay interest and don't buy extra stuff because you have a card

 

I had a card since 1993... and I missed a payment for the first time in 17 years last month because I honestly straight up forgot to pay it.

 

I got raped. What a f***ing load of s***.

 

So, my point here is when you play with snakes, sometimes they bite. Be really careful.

I had a card since 1993... and I missed a payment for the first time in 17 years last month because I honestly straight up forgot to pay it.

 

I got raped. What a f***ing load of s***.

 

So, my point here is when you play with snakes, sometimes they bite. Be really careful.

I have autopay for that reason, in case I forgot to pay. It's a nice little backup plan.

Any recommendations/horror stories with any certain company? At the bank I worked at, they recommend Discover Rewards.

 

Oh, and Rock, I do use Mint, it recommends a lot of beginner student cards.

Any recommendations/horror stories with any certain company? At the bank I worked at, they recommend Discover Rewards.

 

Oh, and Rock, I do use Mint, it recommends a lot of beginner student cards.

Ive been pleased with Citibank, have had it for 3 or so years since mid freshman year in college. $800 credit line to start, no annual fee, 1% back on all purchases and sometimes more with some promotions.

 

I like their online setup too, pretty easy and clean.

Just assume that they are all trying to rip you off. They all are, just in different ways.

I'm not a fan of GE Money Bank or Chase.

Go here:

 

http://www.creditcardconnection.org/

 

Getting a CC from a credit union is a good move

I remember my very first credit card had a limit of about $500 back when i had ZERO credit.. Like balta, i pay almost everything with my credit card but thats only because i have the immediate cash or will have the cash to back it up shortly. About 5 years later i have a near perfect credit score at 800+ and my credit limit has drastically increased from that $500 that i started with let me tell you

I remember my very first credit card had a limit of about $500 back when i had ZERO credit.. Like balta, i pay almost everything with my credit card but thats only because i have the immediate cash or will have the cash to back it up shortly. About 5 years later i have a near perfect credit score at 800+ and my credit limit has drastically increased from that $500 that i started with let me tell you

 

Best move I made was taking out a CC as soon as I turned 18 and sticking it in a drawer for 4 years until I was done with college. I honestly had completely forgotten that I even had it.

 

 

Now I pay for almost everything with my CC.

I'm actually in the same boat. Right now, the only credit history for me as well is my student loans and I'm trying to find a good place to start.

I had a card since 1993... and I missed a payment for the first time in 17 years last month because I honestly straight up forgot to pay it.

 

I got raped. What a f***ing load of s***.

 

So, my point here is when you play with snakes, sometimes they bite. Be really careful.

 

I would try and call the company and explain the situation. I did this around Christmas this past year (just slipped my mind that the bill was due). I noticed it about 3 days afterwards and called the company and explained that I forgot, I was a customer in good standing who had always made my payments on-time, blah, blah, blah.....and they told me too bad. I proceeded to tell them I was going to have to cancel my card because this is not how you should treat good loyal customers. They transferred me to the cancellation department, where they asked me why I wanted to cancel the card. I told them the story, and they looked at my payment history, saw that I was never late, and proceeded to reverse all the late charges and interest.

Be aware that they don't hand out credit like it's 1998. Research is key.

 

One option if you don't have credit is to get a secured card. Your limit is whatever you put up as collateral. Male sure the card reports to a credit agency otherwise you are wasting time. After about 6 months you will be able to get a real card.

 

For a first card, rewards might be tough to come. Low fees are more important. It doesn't take long before you can upgrade.

 

Oh an if you aren't receiving offers in the mail, then you are more likely to need a secured card. They target anyone that has decent credit.

I'm not a fan of GE Money Bank or Chase.

Can't stand Chase, their rates (for almost everything I have seen) are terrible and although they say they are built on customer service I have never been impressed by them.

the MLB rewards card that Bank of America got me some awesome sox seats for 4 games last year. (2nd row behind the scout seats) - that was a pretty cool reward.

 

They aren't offering sox tickets this year though :/

Go here:

 

http://www.creditcardconnection.org/

 

Getting a CC from a credit union is a good move

I'll second this, they'll all try to screw you, but a credit union will likely try to screw you the least.

I would try and call the company and explain the situation. I did this around Christmas this past year (just slipped my mind that the bill was due). I noticed it about 3 days afterwards and called the company and explained that I forgot, I was a customer in good standing who had always made my payments on-time, blah, blah, blah.....and they told me too bad. I proceeded to tell them I was going to have to cancel my card because this is not how you should treat good loyal customers. They transferred me to the cancellation department, where they asked me why I wanted to cancel the card. I told them the story, and they looked at my payment history, saw that I was never late, and proceeded to reverse all the late charges and interest.

 

I had a similar situation a few month ago with my Discover card. Only difference is that I got it resolved with the first person I talked to.

 

I've had my Discover since I was 18 and have never had a single problem with them. They even helped me to get rid of my AOL account and credited my money back to me after AOL continued to charge me when I had called repeatedly to cancel the service.

 

We just recently used our cash back bonus award to pay our bill. The only complaint I have is that you have at least $50 in cash back bonus awards before you can use them.

 

I have run into a handful of places that don't accept Discover as well.

 

Also a few years back we had an incredible amount of debt and every time we started to come close to the limit on the card, they raised the limit. It was good that we didn't get charged fees for going over, but it was bad because we kept charging more. These days we pay the balance off every month.

Edited May 11, 201114 yr by Iwritecode

You might not spend enough money now to make it worth it, but I'm a huge fan of using credit cards that offer airline miles. I have two different Citi AAdvantage credit card (MC & Amex) and my experience with them has been great. They often have 20-30% bonus periods where you can accrue extra miles, I have been able to buy numerous flights simply due to my credit card miles. It's always nice to go on vacation and fly for free.

We just recently used our cash back bonus award to pay our bill. The only complaint I have is that you have at least $50 in cash back bonus awards before you can use them.

I believe the $50 policy is pretty much industry standard.

I believe the $50 policy is pretty much industry standard.

 

It used to be $20. They raised it in the last couple of years.

My experience with CCs:

 

Chase - Awful, all CC companies are out to screw you, its true, somehow, but Chase takes it to new levels

Crapital One - No, that IS how it is spelled, trust me

HSBC/Orchard - Great for credit rebuilders, but steep in annual fees, and their cards will never 'grow' with you

Citi - I never cared for them much, but there are people that swear by their Citi cards, so its a toss up

Discover - Always did me right when I had one, unfortunately I don't carry one anymore

GE Money Bank - Really only good for department store/"Mall" store type places. Steep APRs as well, avoid em unless you just want some diversity

Barclays - This is who my big CC is with now, I've never had a single issue with them, and have had automatic-CLIs(Credit Line Increases) every 6 months, like clockwork. Besides, who can deny the look of this card??

 

(Yes, my CC has William Shatner on the front of it...)