cancel
Showing results for 
Search instead for 
Did you mean: 

Advice for a student who has paid off 2 car loans and has 1 revolving account

Established Member

Advice for a student who has paid off 2 car loans and has 1 revolving account

So i'm looking for my first credit card but don't think it'd be wise to apply for a student credit card like people w/ no credit traditionally do. I already have established some credit after paying off 2 car loans ($3500, $11,000). I also have a "CC" at Sam's Club linked to my fathers account that has been paid monthly since 2007, which also shows up on my credit report. These are the only 3 things in my credit report. My first candidate US Bank's Cash+ Visa card, but they required $30,000 annually which i'm currently not making as a student. My current checking account is through a local bank and they no longer offer credit cards so I cannot get a card through my bank. I'm looking for a free checking account and a credit card that I can apply together. I don't want any fancy reward cards with annual fees. Cashback is definitely preferred if i'm eligible for any. I plan on paying the balance every month, no transferring balance. I'm about 23 years old if that makes any difference.

 

 

Thanks for any advice in advance.

Message 1 of 13
12 REPLIES
Senior Contributor

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account

Try Chase Freedom? Might start you with a low limit! But it's a start! :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 2 of 13
Established Member

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account

Thanks for the reply. I was originally interested in the Chase Freedom card as well, but they don't offer free checking. I won't be able to avoid the fees since I don't work much throughout the school year. Maybe i'm being too strict though? Is free checking a thing of the past now?

Message 3 of 13
Frequent Contributor

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account

BofA cash rewards is nice and you can get 10% more cash back when you redeem it in your BofA checking account.
PenFed AMEX: $5500 | AMEX BCE: $8300 | AMEX E: $5000 | BofA BBR: $5000 | Discover It: $6500 | CSP: $11500 | CF: $5500 | Citi DIVIDEND: $5700 | CITI TYP: $4600 | BofA CR: $7500 | CAP ONE Q: $3000 |

TU: 722 / EX: 763 / EQ: 735
Message 4 of 13
Valued Contributor

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account


youngandcreditwrthy wrote:
Try Chase Freedom? Might start you with a low limit! But it's a start! :-)

This would be my opinion also, it's not necessary to have your credit card and bank account at the same bank.

 

BOA would also be a good place to look, you can start out with a Student card and PC it to something different after 6 months or so.  This is what my fiance did for her first card

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Message 5 of 13
New Member

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account


dndandrea wrote:

Thanks for the reply. I was originally interested in the Chase Freedom card as well, but they don't offer free checking. I won't be able to avoid the fees since I don't work much throughout the school year. Maybe i'm being too strict though? Is free checking a thing of the past now?


Im pretty sure chase offers college student checking with no monthly fee. I currently have an account with them and pay no fee and I am a college student.

Message 6 of 13
Senior Contributor

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account

Eh, don't worry about having a checking account...
Imo, boa will be too hard to get...
They have never approved me, and they suck with recons!

Freedom is your best bet..or even Amex BCE!

Citi/boa are toooooo hard!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 7 of 13
Valued Contributor

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account

Is the tu fico available with a sams card since its owned by Walmart?

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 8 of 13
Senior Contributor

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account

Discover IT seems to be easier to obtain atm than Discover historically is! Maybe app for IT and Freedom!

Card issuers seem to be more lax with the credit product they *want* you to have!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 9 of 13
New Member

Re: Advice for a student who has paid off 2 car loans and has 1 revolving account


dndandrea wrote:

So i'm looking for my first credit card but don't think it'd be wise to apply for a student credit card like people w/ no credit traditionally do. I already have established some credit after paying off 2 car loans ($3500, $11,000). I also have a "CC" at Sam's Club linked to my fathers account that has been paid monthly since 2007, which also shows up on my credit report. These are the only 3 things in my credit report. My first candidate US Bank's Cash+ Visa card, but they required $30,000 annually which i'm currently not making as a student. My current checking account is through a local bank and they no longer offer credit cards so I cannot get a card through my bank. I'm looking for a free checking account and a credit card that I can apply together. I don't want any fancy reward cards with annual fees. Cashback is definitely preferred if i'm eligible for any. I plan on paying the balance every month, no transferring balance. I'm about 23 years old if that makes any difference.

 

 

Thanks for any advice in advance.


I applied for the Citi student Dividend with relative short credit history and i was approved for $4000 instantly. Not a bad card and no annual fee.

Message 10 of 13