First Credit Card?

Hi all,

I am a recent college graduate (May 08) and have never had a credit card. I am looking for suggestions for good cards that any of you have had experience that I would be able to get on my own in order to start building up my credit. I have a personal policy to never use credit cards unless I have to, therefore I only want one to increase my credit score (I would use it towards things like rent or bills that I always pay on-time).

Thanks! :)

Moneymaus,

Congratulations on your graduation.

Check out the CCs at Bankrate.com: http://www.bankrate.com/brm/rate/cc_home.asp

Thanks, clydewolf! After some more research, I applied for a CapitalOne Standard Platinum Card. I will find out next week whether I was approved or not! :)

Moneymaus,

If you are a member of a Credit Union get a CC there.
Many Credit Unions are open to folks that live in a region/area.
If you are not a memeber of a Credit Union, but most likely you qualify to be a member of a CU, you could join and then get their CC.

Hi all,

I am a recent college graduate (May 08) and have never had a credit card. I am looking for suggestions for good cards that any of you have had experience that I would be able to get on my own in order to start building up my credit. I have a personal policy to never use credit cards unless I have to, therefore I only want one to increase my credit score (I would use it towards things like rent or bills that I always pay on-time).

Thanks! :)
You might still be able to get a good student rewards card such as the Citi mtvU card or the Citi Driver's Edge for Students card. You can use this calculator to see which of several different student rewards cards (and non-student cards) will pay you the most in rewards for funneling your normal spending through it:
Best Credit Card Reward Calculator (for student cards and also non-student cards) (http://www.creditcardtuneup.com/?card_type=College+Student)

Moneymaus,

If you are a member of a Credit Union get a CC there.
Many Credit Unions are open to folks that live in a region/area.
If you are not a memeber of a Credit Union, but most likely you qualify to be a member of a CU, you could join and then get their CC.Yes I also think that you should join it. It will be great support to you.Being a member will really help you.

almost all of the credit cards are normally has a same resemblance...sometimes only the rewards are the different factor...also the credit limit...good luck in using your credit card spent it wisely

In case you don't qualify for a regular credit card, you can always apply for a secured credit card.

From experience, I can recommend CapOne. If you keep a good credit score, you can also opt for reward cards. :)

You want to get a card that does not report as secured. Remember to make timely payments and don't spend more than 35% of your limit as going above that amount starts to adversely affect your score.

Thanks for all your comments! I am pleased to say I got a CapitalOne Standard Platinum card. No rewards, $500 limit and I pay it off every week and never spend more than 35% on it.

I am -really- looking to get a rewards card in the future (perhaps after 1 year once I've built up my credit score). :)

My first credit card in college was Citi. It was a college card I believe, but I still use the same card even though I have since graduated. I don't remember the specifics of my card, because I use it so rarely and only for big purchases, but they have a good rewards program that I take advantage of. I've never had an problems with Citi, and out of all the cards I have, I like it the best. Check out the website, they have many CC programs to choose from.

I go my first credit card about 6 months ago. It is a Capital One card with a limit of $500 and 0% interest until December, with 6% after. I got it from the cardoffers website and they really helped break down all of the fees associated with the card and they also had user reviews I could read right there. Some pro's and cons:

Pro's:
It is helping build my credit history
I feel more secure having it in case of an emergency
I can buy things that I want and pay over time
I feel better about using it for everyday purchases rather than using my bank card (I live in Miami and there is a ton of fraud!)

Con's:
They started me off with a small limit
They've held ALL of my payment for at least two weeks (so annoying)
Customer Service is a call center in some other country... (This irks me more than the above)

All in all my credit card experience has been pleasant. However I do not think i will ever apply for another Capitol one card. In another few months I will probably apply for a Discover card, they offer a 5% cash back bonus and when you apply for them through the cardoffers website they will send you an extra $50 for applying for it through them. :D

Congratulations on your graduation but be carful about getting a credit card. Bad money money management can hurt you in the long run

However I do not think i will ever apply for another Capitol one card. In another few months I will probably apply for a Discover card, they offer a 5% cash back bonus and when you apply for them through the cardoffers website they will send you an extra $50 for applying for it through them. :D

I have had the same experience with CapitalOne! My limit was just increased to $750 (after having the card for 3 months and paying it off in full every month). Thanks for your advice, LillyR, I will probably apply for either a Chase or Discover rewards card. :) Good luck with your credit!

Credit Card Unions are a prefect place to start on getting a credit card.

Here's a list of cards suited for people without much or any credit -

http://www.ncacreditrepair.com/credit-cards-problem-credit.html

How to choose your First Credit Card:
1. Look for a card that has good benefits. Good benefits may include low interest, promotional interest rates, no annual fee, no bank service charges, air travel bonus miles, credit points toward purchases, credit points toward long-distance phone calls, or credit points for gasoline.

2. If offered a promotional interest rate, find out the terms of payment and when the rate will expire. Most cards apply payments to lowest interest charges first, leaving your higher interest charges to collect interest until the entire amount is paid off.

3. Ask if there are fees and charges. There may be an annual fee, an application fee, an account service charge, an over-limit fee, a late-payment fee, a cash advance fee, and other miscellaneous fees. Compare these fees to other cards to see if they are trying to rip you off.

4. Check the interest rates. Some cards charge interest from the date of purchase. Some cards charge interest from the billing date. Pay all of your bills on time to avoid paying interest.

5. Find out if the card offers a standard monthly billing cycle. Some cards expect a payment every two weeks! Ask if there is a penalty for not using your card.

6. Apply. There are usually three ways to apply: through the mail, over the phone and on the internet.

7. Activate the card when you receive it. Follow the activation instructions included with the card, usually this can only be done from your home phone. They will try to sell you several services over the phone. Say no. Sign the back of the card before you use it.

All the best

As its going to be your first credit card, I'd also like to give to some tips for using it wisely:

1. Spend your money wisely, and make your payments on time.

2. Pay off your entire bill each month (billing cycle). Set a budget on how much you can pay off in one month.

3. Use your card only within your budget. Do not purchase items that are too expensive, just because you have credit.

4. If you find you cannot make your monthly payment, stop using the card immediately. Cut the card in half and never use the number again. Cancel all automatic payments that charge to that card.

Regards

I have had CapitalOne. There are many cerdit cards available to choose from. But choosing the right credit card depending upon your usage requirement. You can compare credit card (http://www.billshrink.com/) to know which one is right for you.

The easiest route to getting a first student credit card will be at a local credit union although you will probably give up some of the nice perks like rewards or points. If you have a decent credit score then I would try to find a card with 1% back on purchases or something similar.

i think this is the best one to know about credit cards http://www.merchantaccountsllc.com

Do your own research. Check out the student cards offered by sites such as CardRatings.com and Bankrate.com. Don't get sidetracked by rewards programs, low introductory rates or other trimmings.

You want a card that:
* Charges no application fee or other upfront fee.
* Has no annual fee.
* Comes with a decent interest rate; 14% to 17% is typical for a student card.
* Reports to all three credit bureaus.