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Can the discover and citi student cards graduate (or product change) to regular cards?
I don't know if this is true, but people have said that there is a limit on CL growth with student cards that isn't there on regular cards.
I am curious about the Citi Forward though. Number one, since it only comes in a student version now, will current holders eventually have to give it up? Can't be in school forever, after all. Number two, can it be PC'd to other TY points-earning cards? (I think this one has already been answered somewhere, but I'm feeling a little lazy )
Fortunately I'm not. ;p
From the thread:
Student CC's typically don't grow much. Since they are new cards, updating your work status with the CCC most likely will have no effect. The citi forward card may grow with you over time, but your limit isn't going to jump because you got a job. Over time the limit will grow as you show your worthiness as a customer. The Cap1 card may not go anywhere. After you have been employed for over a year, and have showed steady, responsible use of your cards (depending on your FICO score) you may be able to apply for a better card. You usually can't PC student cards.
Original Post: http://ficoforums.myfico.com/t5/Credit-Cards/From-Student-to-Employed/m-p/1046204/highlight/true#M29... Edit: Formatting fixed, MyFico doesn't like Chrome, apparently.
Thanks for the info
Wells Fargo will PC u to other cards when you graduate from college. Usually they will ask you at around 6 years after you got the card about whether you're still going to college.
College cards won't get much CLIs or high CLs in general, only because most college kids do not have any income, nor are their future income guaranteed unless they have a job offer waiting for them. However, college cards are easier to get for people with thin files.
@enharu wrote:Wells Fargo will PC u to other cards when you graduate from college. Usually they will ask you at around 6 years after you got the card about whether you're still going to college.
College cards won't get much CLIs or high CLs in general, only because most college kids do not have any income, nor are their future income guaranteed unless they have a job offer waiting for them. However, college cards are easier to get for people with thin files.
Thanks. This is why I'm interested in a college card. I don't have much income and my file is thin. I was hoping to get a college card to start building credit but I'm not interested in picking up a new account, having it age for the next two years and then having to close the account or apply for a new account to get out of the "student" card. I'm looking for some long term accounts to build credit.
like jsu recommended, Wells Fargo is a good choice for college cards.
They do not have those fabulous rewards or anything, but their interest rates are on the lower end, esp. for college cards.
When I had the college card back then, they kept extending my 0% APR offer as well. Not sure if they still extend those offers it now since the economy isn't as good as it was 5-7 years ago, but in general it's a nice prime bank card to start with. I cant remember the interest rates I have right now at the top of my head, but it is in the single digit region if I remember correctly, so it's kinda nice to have a card to leave balances on if I ever need to.
Do check out Citi, Bank of America and Discover as well. They have good options as well. Bank of America is able to product change too from what I was told. Not too sure about Discover and Citi. You can try calling their new accounts department and ask. You can always get more than 1 card
I started off with a secured card at my local credit union and applied for their Golden 1 Student Visa after a few months. Currently, it is my lowest credit limit and I leave it in the safe. If you have a thin file, try a secured credit card or at your local bank. I used BofA for awhile at first, but they still rejected me for their student visa and secured card ..due to lack of credit history a year ago. I probably have a good chance of getting approved now, but I'm gardening until next year for an Amex application =)
Good luck!