whats a good student card?

[FantumGrey]

Congrats on your daughter's auspicious credit beginnings!

Since Discover isn't always accepted, I would actually recommend getting her another card such as a Visa or Mastercard. I noticed you mentioned the Citi Forward card before. That card actually got its rewards scheme from a college student visa offering called the Citi mtvU. It's a great card for students if you don't mind getting your rewards in thank you points. The special categories give 5 pts per $1 for places students frequent like bookstores and restaurants and they give bonus points for grades...transcripts can be sent in twice a year. You should look into also getting this card for your daughter as it is tailored specifically to the needs of students and it will most definitely grow with her since Citi offers CLIs nearly every 90 days and keep the APR pretty decent with this card.

[Anonymous]

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@FantumGrey wrote:

Congrats on your daughter's auspicious credit beginnings!

Since Discover isn't always accepted, I would actually recommend getting her another card such as a Visa or Mastercard. I noticed you mentioned the Citi Forward card before. That card actually got its rewards scheme from a college student visa offering called the Citi mtvU. It's a great card for students if you don't mind getting your rewards in thank you points. The special categories give 5 pts per $1 for places students frequent like bookstores and restaurants and they give bonus points for grades...transcripts can be sent in twice a year. You should look into also getting this card for your daughter as it is tailored specifically to the needs of students and it will most definitely grow with her since Citi offers CLIs nearly every 90 days and keep the APR pretty decent with this card.

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u are so right about discover, they are not always accepted...yes we were torn between the 2 citi and discover...i kind of scare to applied for the citi since she just got approve for the discover, with no job....she only has one inqury and her score  is ex ....688, tu states she dont have enough info for scoring yet and ex dont have her listed...

Message Edited by ladydi on 01-31-2010 05:54 PM

[monicar2009]

My son usually uses Half.com

Anyway when he barely had any credit he got a cap 1.

pretty sure it was http://www.capitalone.com/creditcards/products/details/?sol=11117&tc=16&credit=3&linkid=WWW_0608_CARD_TGUNS01_CCPCP_C2_02_T_CP11716LW

Started at 500 around march of last year. Got to 1500 around nov. Think its capped at that tho. I hear good things about citi forward. Great for students.

Message Edited by monicar2009 on 01-31-2010 03:54 PM

[haulingthescoreup]

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ladydi wrote:

u are so right about discover, they are not always accepted...yes we were torn between the 2 citi and discover...i kind of scare to applied for the citi since she just got approve for the discover, with no job....she only has one inqury and her score  is ex ....688, tu states she dont have enough info for scoring yet and ex dont have her listed...

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I'd suggest putting her as an AU on other cards for now, and just letting her own credit history grow.

This bit about requiring co-signers until age 21 is really going to affect the opportunity to build credit while in college! Sure, I'd co-sign for a card as a parent, if that's what it took, but I would also make sure that my kid realized that that card would be closed forever at age 21. Being on the hook for someone else's credit, even if they're flesh and blood, is just a terrible idea. Even if they're responsible, young people can and do get involved with those who aren't, who can easily access that joint card.

If nothing else, these ought to be some sort of special card in which the lenders would allow the older co-signer to be removed when the younger person hits 21. But there are very, very few joint CC's that allow that.

[rosa29617]

Hi ladydi, I thought I read a privious post by you which mentioned that your daughter was an au because she was not 18, so I am asking the following:  if a youth is under-age and is an authorized user with their parents' card/cards will it help them in the long run? I guess what I'm really asking is, 'how can your daughter have such a high score if she has never had her own credit before?' It seems that she would have had to build up her credit somehow, and if she was under 18, how could she have done that, unless she benefited by being an authorized user on your account. If these are valid questions, please explain.

[Anonymous]

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@rosa29617 wrote:

Hi ladydi, I thought I read a privious post by you which mentioned that your daughter was an au because she was not 18, so I am asking the following:  if a youth is under-age and is an authorized user with their parents' card/cards will it help them in the long run? well i start her with a visa buxx card at a young age, like around sixteen so she can start learning how to become responsible.. I guess what I'm really asking is, 'how can your daughter have such a high score if she has never had her own credit before? yes when she was old enough i added on all of my dept store cards and 1 bank card when she was in high school her last yr senior (class 2008)' It seems that she would have had to build up her credit somehow, and if she was under 18, how could she have done that, unless she benefited by being an authorized user on your account. If these are valid questions, please explain. after i added her and months went by she was recieving cc offers like me a big dummy was trashing every offer was coming to the house....until i learn about this site my fico, boy i was dumb every body here is so helpful even with their own opionon they r still helpful. i tell ya i learned alot from these guys. cause my credit wasnt no angel...lol

but im still learning myself i have a whole lot of cleaning to doooo....my score no where next to hers my is 642,605,&631 (go figure)

hope this help...

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good evening, rosa read above....in blue

[rosa29617]

Thanks Ladydi,

Yes, my score range is very similar to yours, and like yourself, I am still learning thanks to this site. I wish I'd taken advantage of it long before now. Anyway, I'm hoping to join the 700 club by the end of the year(never knew what that was until now); just financed a car for my daughter and approved for my bank's credit card. Before I had knowledge of this site, I had no idea not having a revolving account(cc or installment loan) was affecting my credit score. So hopefully with this new credit, I'll be able to reach my goal.  I'm being very careful with the steps I'm taking. I will apply for a wells fargo card in six months. Don't want too many hits on my credit reports. Well, I think I may have my daughter apply for a store or gas card when she turns 18 in April. And I may be lucky to have her get a cc with my bank (the credit union); which I have a really good relationship. I think its nice that parents like us can learn from this site and pass info along to our children. Thank you for the info.

EQ 625

TU 604

EX 627

[Anonymous]

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@rosa29617 wrote:

Thanks Ladydi,

Yes, my score range is very similar to yours, and like yourself, I am still learning thanks to this site. I wish I'd taken advantage of it long before now. Anyway, I'm hoping to join the 700 club by the end of the year(never knew what that was until now); just financed a car for my daughter and approved for my bank's credit card. Before I had knowledge of this site, I had no idea not having a revolving account(cc or installment loan) was affecting my credit score. So hopefully with this new credit, I'll be able to reach my goal.  I'm being very careful with the steps I'm taking. I will apply for a wells fargo card in six months. Don't want too many hits on my credit reports. Well, I think I may have my daughter apply for a store or gas card when she turns 18 in April. And I may be lucky to have her get a cc with my bank (the credit union); which I have a really good relationship. I think its nice that parents like us can learn from this site and pass info along to our children. Thank you for the info.

EQ 625

TU 604

EX 627

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good evening,

congrats on the car and credit, it will get better with time...like they say on the post, sit back and let your credit history work, i guess im have to wait to get some preapproval thru the mail or email.......btw i left something on ur post......