Credit Card Recommendations

Discussion in 'Buying Tips and Advice' started by bobber205, Apr 25, 2006.

  1. bobber205 macrumors 68020

    bobber205

    Joined:
    Nov 15, 2005
    Location:
    Oregon
    #1
    I am very likely going to order my reburb MBP tonight.

    But I need my first credit card to do soon. (I have plans on how to pay it off. I've been planning for months now. I have 600 saved up and graduation money...)

    Any good cards you recommend. I need a 0% interest rate for at least 6 months.

    This purchase will likely be the only one I make on that card.
    I do plan on throwing up after I click the ORDER button. ;)
     
  2. iGary Guest

    iGary

    Joined:
    May 26, 2004
    Location:
    Randy's House
    #2
    Citibank and MBNA like to prey on younguns' like you. :)
     
  3. WildCowboy Administrator/Editor

    WildCowboy

    Staff Member

    Joined:
    Jan 20, 2005
    #3
    Some thoughts...

    Here's a list of some low interest cards. I've had several cards from Citi over the years (but not this particular one) and been very happy with them.

    There's also this one from Chase (I've also dealt with them and not had any problems)...0% APR for 12 months and 1% back.

    But if this is your first credit card, you may have a hard time getting ones that require excellent credit. Maybe a student-focused card?
     
  4. n-abounds macrumors 6502a

    n-abounds

    Joined:
    Mar 6, 2006
    #4
    I have a Citibank card for students...very good. They love to prey on college kids. They just upped my limit to $3000 without asking. Sadly it's working cause i have about $1600 that I can't seem to get rid of. That's what I get for not having a paying job in three years. Damn internships.
     
  5. bobber205 thread starter macrumors 68020

    bobber205

    Joined:
    Nov 15, 2005
    Location:
    Oregon
    #5
    There sure is alot to pick from.
    :eek:

    But I knew that already. ;)

    I see a good majority of them require "Good Credit"...

    I wonder if I could get one of those.
     
  6. WildCowboy Administrator/Editor

    WildCowboy

    Staff Member

    Joined:
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    #6
    It can't hurt to try...the worst they can do is say no. They're not going to point their fingers and laugh at the guy who was arrogant enough to think he might qualify for their card and subsequently blacklist you from ever getting a card of any sort from them. I don't think... ;)
     
  7. Matt Phoenix macrumors regular

    Joined:
    Feb 6, 2006
    #7
    It's very difficult to get your first credit card, even if you are a student. I'd just say apply for a bunch of student credit cards and see what you can get. However, once you get in the door with one, everyone else will start taking you. =-o
     
  8. WildCowboy Administrator/Editor

    WildCowboy

    Staff Member

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    #8
    That's not how I remember it...getting a credit card was the easiest thing in the world when I was in college ten years ago. They were standing in line to approve me when I had no credit history...
     
  9. Matt Phoenix macrumors regular

    Joined:
    Feb 6, 2006
    #9
    Hmmm....maybe it had something to do with going to a community college and not a university. I applied for a bunch of student cards. One company said they required no credit history....then I got rejected because I had "no credit history"...I did a double take when looking at that one. After about a ton of applications, I finally got one, and then once I got that, I got tons of card applications daily.
     
  10. bobber205 thread starter macrumors 68020

    bobber205

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    Nov 15, 2005
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    Oregon
    #10
    I had always thought it would be easy.

    Well. I'll apply tonight and see what I get.
     
  11. n-abounds macrumors 6502a

    n-abounds

    Joined:
    Mar 6, 2006
    #11
    Actually, form what I've heard applying for many credit cards can hurt you. The number of times you've applied shows up in your credit history, and I think companies may see you as desperate and therefore they're not likely to get money from you. Something like that. But seriously, I'm a student, and there are at least two credit card applications that come in the mail every day.
     
  12. IanF0729 macrumors regular

    IanF0729

    Joined:
    Dec 3, 2005
    Location:
    Baltimore, Maryland; Washington, D.C.
    #12
    Having had a credit card for only a few years now I remember my process.

    When I finally decided that it would be a good idea to have a credit card for emergencies or unexpected expenses that I didn't have enough money in my checking account to cover it was pretty scary.

    Luckily I got approved, but my balance was very low ($250) since I had no credit and $2,356,798,421,579,845,612 in student loans (approximate value). Over time they've increased it and now I'm at $3,300.

    So just because you get a letter saying you're pre-approved for $5,000 means nothing...at least that's what I learned.

    Good luck!
     
  13. AppleMatt macrumors 68000

    AppleMatt

    Joined:
    Mar 17, 2003
    Location:
    UK
    #13
    Try an get one with cashback. When I bought my Cinema display I took advantage of a 6 month 2.5% cashback offer. it makes sense for big purchases.

    You don't need 0% on that card, just also sign up for another one that has 0% on balance transfers and send it over.

    AppleMatt
     
  14. Peyton macrumors 68000

    Peyton

    Joined:
    Feb 2, 2006
    #14
    I was in the same position. I paid everything with debit, but I got a clothes store card (apply for Express, Banana Republic etc) and then they up your limits ($150-$250) and just build from there.

    Recently (this month) I got annoyed and wanted to get a 'real' card and I got a capitalone credit card with a $500 limit.

    Its not that I want to go crazy and buy stupid stuff, I do that with debit, I just want to build credit as I buy things.

    Anyhow, go to capitalone.com, I've had a savings account with them for a while, very easy to use, nice, etc.

    My advice is always to pay your cards off AS SOON AS YOU GET THE BILL. Never carry a balance and you will have plenty of credit soon. ;)
     
  15. rockandrule macrumors 6502

    Joined:
    Aug 3, 2004
    Location:
    Jacksonville, FL
    #15
    Do you have a checking account or anything set up with a bank already? That's the easiest way to get one, I think. You need to also be prepared to be getting multiple cards. I have been with Bank of America for two years with a checking and savings account and I applied and will be recieving (here in a few days) my first card (BOA Student Credit Card) with a $700 limit. My girlfriend who has been with them for a year, but has established credit by getting a $3500 loan out to buy her G5 a little over two years ago and has paid that off, and she only got a $1000 credit line. Once you get in the door though, it shouldn't be too hard. Try for a card through your bank, then pick up another if you have to.
     
  16. rockandrule macrumors 6502

    Joined:
    Aug 3, 2004
    Location:
    Jacksonville, FL
    #16
    Also, if you're on a fixed budget, why not wait to see what comes out with the MacBooks in the coming month or so becuase it will likely be using the Yonah that's in the MBPs right now as the MBPs move up to Merom?? Or maybe you should even go the loan route rather than credit cards. I think it may be easier to use a loan since you're forced to pay a good amount each month.
     
  17. bobber205 thread starter macrumors 68020

    bobber205

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    Nov 15, 2005
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    Oregon
    #17
  18. rockandrule macrumors 6502

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    Location:
    Jacksonville, FL
    #18
    Very good choice.
     
  19. balamw Moderator

    balamw

    Staff Member

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    Aug 16, 2005
    Location:
    New England
    #19
    IIRC paying off your bill in full every month doesn't improve your credit score as much as doing the same over a few months.

    Definitely applying for lots of credit at once is a surefire way to lower your credit score.

    B
     
  20. Peyton macrumors 68000

    Peyton

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    Feb 2, 2006
    #20
    Very true, but if you want to not waste a bunch of money on interest, then pay it all off. ;)
     
  21. balamw Moderator

    balamw

    Staff Member

    Joined:
    Aug 16, 2005
    Location:
    New England
    #21
    The usual adage applies, you get what you pay for. ;)

    If your goal is to increase your credit score for applying for a larger card and/or a loan, you may need to "waste" some money on paying the interest to demonstrate that you can responsibly carry a balance.

    B
     
  22. bobber205 thread starter macrumors 68020

    bobber205

    Joined:
    Nov 15, 2005
    Location:
    Oregon
    #22
    Assuming I try and get the [)URL="http://www.creditcards.com/college-students.php"]http://www.creditcards.com/college-students.php[/URL])the Student Classic Card....

    I can't find where it says what my limit could/will be. I guess I won't find out till after I apply?
     
  23. n-abounds macrumors 6502a

    n-abounds

    Joined:
    Mar 6, 2006
    #23
    I dunno, since all students are pretty much the same, each company probably gives them the same credit across the board...

    My Citi card gave me $1500 to start, and I had NO credit history.
    I wanted to get a cell phone (which would also help build credit), but they wanted me to have some credit history. A few months later (after I got my Citi card), they let me have a phone. A few months of credit doesn't exactly establish me as 'good', but eh whatever.

    It's funny how much of a Catch-22 it is.
     
  24. chris y. macrumors regular

    Joined:
    Feb 27, 2006
    Location:
    los angeles, ca
    #24
    credit takes time to build...you dont HAVE to carry a balance or HAVE to pay it all off in order to get better credit...what credit card companies are looking for is some sort of income + a nice consistent history of paying before the due dates.

    I know chase has a great 0% card for 12 months or so, they seem desperate for customers based on how many times a month Ive recieved the invitation.
     
  25. rockandrule macrumors 6502

    Joined:
    Aug 3, 2004
    Location:
    Jacksonville, FL
    #25
    Well they were desperate, eh? Citi is doing promotions all of the time at UNF where they will buy you a 12" sub at Subway or a medium pizza at Dominos if you just fill out an application for one of their cards. It's convient for me, because I don't live at home so I don't have to deal with the mail begging me to accept the card and I get free food! Hooray for starving college students!:D
     

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