topic Re: Best student credit card? in Credit Cards

Best student credit card?

MileHigh96 — Tue, 16 Nov 2021 19:53:13 GMT

My daughter just recently turned 18 and she's had her part-time job for over a year now. We started her early with a checking and savings account and a debit card to teach her how to be financially responsible (she has more money in savings than I do lol). My DW added her as an AU on her Kohl's charge account about 6 months ago or so. She has been amazingly responsible with everything.

So we think she's ready for the next step in building her credit so that when she's ready to move out after she graduates that she will be much farther ahead than either I or DW was when we were her age. My question is, there are A LOT of student credit cards out there for beginners just starting out in the credit world. Does anyone have recommendations that they have either dealt with personally or know about that are worth having her apply for? We're looking from prime-type cards, we don't want her to get any predatory type cards.

TIA!

Re: Best student credit card?

M_Smart007 — Tue, 16 Nov 2021 21:17:15 GMT

Possibly Discover Student Card(s) ??

https://www.discover.com/credit-cards/student-credit-card/

Re: Best student credit card?

CreditAggie — Wed, 17 Nov 2021 00:15:22 GMT

Discover has an excellent card for students. It is one of the first cards I started with and it continues to be a great card after I graduated. I would also recommend looking into applying for a card with the bank or CU she has deposit accounts with. If she has an iPhone, Apple Card could also be a great place to start.

Re: Best student credit card?

HHH71 — Wed, 17 Nov 2021 23:04:34 GMT

I started my son his freshman year in college as an AU on my discover card. He used it for books, gas, food, etc. his sophomore year he had a credit score of 746. We applied for his first card in his name, and went with Capital One Quicksilver card (no AF); he was approved for $1,500. Summer after his sophomore year had him apply for a Chase Freedom Unlimited; he was approved for $2,400. Last month I had him apply for the American Express Everyday Card and he was approved for $6,000. He pays them off before they can report a balance to keep utilization between 0%-5% (might miss statement day), but never carry's a balance, and only uses them if there is money in the bank.

He is now part of these three ecosystems and can decide for himself which one he likes best. We will probably app for a citi card in the spring as well. By he time he graduates he will have a decent credit profile and can do whatever he wants right out of college. I believe it's one of the best gifts I can provide him. An education on money, credit, and help him build it with good habits that should carry him through life.

His credit has remained in the 730-750 range the whole time. I listed annual income for him of $25,000. This is primarily his scholarship and a little work he does for me time to time.

My thoughts were to get him into the big ecosystems with no annual fee cards, but some earning benefits on spend.

Re: Best student credit card?

OmarGB9 — Thu, 18 Nov 2021 03:51:33 GMT

Discover IT, Chase Freedom Unlimited/Freedom Flex, Capital One Quicksilver. If you have any military affiliation, you can sponsor them for a Navy membership which in turn can lead to a credit card with them. The cash rewards or MoreRewards Amex are good ones.

Re: Best student credit card?

CreditAggie — Thu, 18 Nov 2021 04:18:10 GMT

@OmarGB9 wrote:
Discover IT, Chase Freedom Unlimited/Freedom Flex, Capital One Quicksilver. If you have any military affiliation, you can sponsor them for a Navy membership which in turn can lead to a credit card with them. The cash rewards or MoreRewards Amex are good ones.

Unless OP's daughter banks with Chase, I would start with one or two other cards, garden for one year, and then apply for a Chase card. Chase likes to see at least one year of credit history before they are willing to approve a card.

Re: Best student credit card?

Anonymalous — Thu, 18 Nov 2021 05:40:32 GMT

@OmarGB9 wrote:
Discover IT, Chase Freedom Unlimited/Freedom Flex, Capital One Quicksilver. If you have any military affiliation, you can sponsor them for a Navy membership which in turn can lead to a credit card with them. The cash rewards or MoreRewards Amex are good ones.

I can speak from very recent experience that someone with no or less than a year's credit history, even with an AU card bumping their scores, won't have a chance at either of those Chase cards. Or any Quicksilver except the Quicksilver One, which should be avoided as a first card because it has an annual fee.

The Discover It student has the best rewards of any student card, and is known to be generous with upgrades. The Navy Fed nRewards has more basic rewards, requires a deposit, and requires military affiliation (which can be a deceased grandfather who was a vet), but the upgrades may be even more generous. The Freedom student is also a solid choice, but more for those who want to start a relationship with Chase. Other good options are a local credit union, or the bank OP's daughter already has an account with.

Re: Best student credit card?

disdreamin — Sat, 20 Nov 2021 21:04:46 GMT

I tried posting a new thread about this a short while ago and since the mod pointed me to this thread for information, I guess I'll ask here whether there are any additional suggestions for a first card - specifically not Disco or AmEx. The Apple suggestion above is out (not iOS user), and no in with Navy. The suggestions to try Chase seem to have been shot down by later posts, so basically I'm hoping for more suggestions.

Re: Best student credit card?

simplynoir — Sat, 20 Nov 2021 21:39:57 GMT

@disdreamin wrote:
I tried posting a new thread about this a short while ago and since the mod pointed me to this thread for information, I guess I'll ask here whether there are any additional suggestions for a first card - specifically not Disco or AmEx. The Apple suggestion above is out (not iOS user), and no in with Navy. The suggestions to try Chase seem to have been shot down by later posts, so basically I'm hoping for more suggestions.

May I ask why Discover and AMEX are taken out of consideration? For young/thin files they are good starter cards to begin with

In any case if those are out of contention then other options could be Capital One's Quicksilver cards or secured cards like the ones Bank of America, US Bank and Capital One if you want themt to start their own credit history

Re: Best student credit card?

disdreamin — Sat, 20 Nov 2021 21:53:31 GMT

@simplynoir wrote:
@disdreamin wrote:
I tried posting a new thread about this a short while ago and since the mod pointed me to this thread for information, I guess I'll ask here whether there are any additional suggestions for a first card - specifically not Disco or AmEx. The Apple suggestion above is out (not iOS user), and no in with Navy. The suggestions to try Chase seem to have been shot down by later posts, so basically I'm hoping for more suggestions.
May I ask why Discover and AMEX are taken out of consideration? For young/thin files they are good starter cards to begin with

In any case if those are out of contention then other options could be Capital One's Quicksilver cards or secured cards like the ones Bank of America, US Bank and Capital One if you want themt to start their own credit history

Both AmEx and Discover have limited utility in that some small businesses don't accept them, and the student is already AU on a BCP for the time being (and I have a bad history with Disco so I'm completely biased against them). Widening the options as far as card choices seems wisest, though, rather than doubling up on AmEx. I mistakenly thought Quicksilver One was an AF card, so I'll definitely look into that card - I have no experience whatsoever with Capital One.

Re: Best student credit card?

OmarGB9 — Sun, 21 Nov 2021 02:16:41 GMT

@disdreamin wrote:
@simplynoir wrote:
@disdreamin wrote:
I tried posting a new thread about this a short while ago and since the mod pointed me to this thread for information, I guess I'll ask here whether there are any additional suggestions for a first card - specifically not Disco or AmEx. The Apple suggestion above is out (not iOS user), and no in with Navy. The suggestions to try Chase seem to have been shot down by later posts, so basically I'm hoping for more suggestions.
May I ask why Discover and AMEX are taken out of consideration? For young/thin files they are good starter cards to begin with

In any case if those are out of contention then other options could be Capital One's Quicksilver cards or secured cards like the ones Bank of America, US Bank and Capital One if you want themt to start their own credit history
Both AmEx and Discover have limited utility in that some small businesses don't accept them, and the student is already AU on a BCP for the time being (and I have a bad history with Disco so I'm completely biased against them). Widening the options as far as card choices seems wisest, though, rather than doubling up on AmEx. I mistakenly thought Quicksilver One was an AF card, so I'll definitely look into that card - I have no experience whatsoever with Capital One.

The QS One is an AF card. The plain QS (no One after it) is the one WITHOUT an AF.

Re: Best student credit card?

HeavenOhio — Sun, 21 Nov 2021 14:24:48 GMT

@disdreamin, if you're uncomfortable with Discover, go for something else. We often recommend them as an early card because the secured card can often be obtained with no credit at all. And the unsecured cards are frequently obtainable with a very thin credit file.

AMEX usually requires a bit of history before they'll issue a card. You have a shot of your file is clean, you don't have a pile of young accounts, and your oldest account is maybe 9 months old.

I agree with prioritizing Mastercard and Visa products. But there are times that Discover and AMEX can be a great fit in the credit building process. Grabbing one of the two early on can make sense. The other can be obtained (if desired) once one's file has thickened a bit.

If you're going for Capital One products, aim for the Secured Mastercard, the Platinum Mastercard, or the Journey Student card. Skip the QuicksilverOne and its annual fee. The better Capital One cards will become obtainable with a bit of history.

Re: Best student credit card?

SouthJamaica — Sun, 21 Nov 2021 14:26:20 GMT

@MileHigh96 wrote:
My daughter just recently turned 18 and she's had her part-time job for over a year now. We started her early with a checking and savings account and a debit card to teach her how to be financially responsible (she has more money in savings than I do lol). My DW added her as an AU on her Kohl's charge account about 6 months ago or so. She has been amazingly responsible with everything.

So we think she's ready for the next step in building her credit so that when she's ready to move out after she graduates that she will be much farther ahead than either I or DW was when we were her age. My question is, there are A LOT of student credit cards out there for beginners just starting out in the credit world. Does anyone have recommendations that they have either dealt with personally or know about that are worth having her apply for? We're looking from prime-type cards, we don't want her to get any predatory type cards.

TIA!

My advice would be to start out with a good credit union.

Re: Best student credit card?

disdreamin — Sun, 21 Nov 2021 15:18:09 GMT

@OmarGB9 wrote:
@disdreamin wrote:
@simplynoir wrote:
@disdreamin wrote:
I tried posting a new thread about this a short while ago and since the mod pointed me to this thread for information, I guess I'll ask here whether there are any additional suggestions for a first card - specifically not Disco or AmEx. The Apple suggestion above is out (not iOS user), and no in with Navy. The suggestions to try Chase seem to have been shot down by later posts, so basically I'm hoping for more suggestions.
May I ask why Discover and AMEX are taken out of consideration? For young/thin files they are good starter cards to begin with

In any case if those are out of contention then other options could be Capital One's Quicksilver cards or secured cards like the ones Bank of America, US Bank and Capital One if you want themt to start their own credit history
Both AmEx and Discover have limited utility in that some small businesses don't accept them, and the student is already AU on a BCP for the time being (and I have a bad history with Disco so I'm completely biased against them). Widening the options as far as card choices seems wisest, though, rather than doubling up on AmEx. I mistakenly thought Quicksilver One was an AF card, so I'll definitely look into that card - I have no experience whatsoever with Capital One.
The QS One is an AF card. The plain QS (no One after it) is the one WITHOUT an AF.

Well that's wild. When I checked the student cards offered, I didn't see where any of them showed AF's. Alrighty then, I guess it's time to go and read more (or perhaps more carefully). Thank you.

Re: Best student credit card?

Hex — Sun, 21 Nov 2021 17:05:34 GMT

I was looking at the Capital One Website today and saw they were offering student cards. They even have a Savor card for students.

https://www.capitalone.com/credit-cards/preapprove/student/?n=1&external_id=WWW_XXXXX_ZZZ_ONL-SE_BBBBB_T_SEM2_ZZZZ_m_ZZ_59850458-a227-4278-a787-a979006eb761_77378285494021_693627&target_id=kwd-77378343737856:loc-190&msclkid=674a0ab18f291b27dc2f6b2bf8dd945c

Re: Best student credit card?

Anonymalous — Sun, 21 Nov 2021 18:26:41 GMT

@disdreamin wrote:
I tried posting a new thread about this a short while ago and since the mod pointed me to this thread for information, I guess I'll ask here whether there are any additional suggestions for a first card - specifically not Disco or AmEx. The Apple suggestion above is out (not iOS user), and no in with Navy. The suggestions to try Chase seem to have been shot down by later posts, so basically I'm hoping for more suggestions.

The regular Chase cards are out, but if you're a student, the Chase Freedom student version should be fine. The rewards are only okay, but it's one of the few student cards with a sign up bonus, plus they give an annual bonus for good grades.

https://creditcards.chase.com/cash-back-credit-cards/freedom/student

Re: Best student credit card?

Anonymalous — Sun, 21 Nov 2021 18:23:45 GMT

@disdreamin wrote:
Well that's wild. When I checked the student cards offered, I didn't see where any of them showed AF's. Alrighty then, I guess it's time to go and read more (or perhaps more carefully). Thank you.

There are at least 4 Quicksilver cards, the regular Quicksilver (requires low end of excellent credit), the Quicksilver for good credit (same as the regular QS, but no sign up bonus), the Quicksilver One (annual fee), and the Quicksilver for students (no fee, no SUB). Capital One's lineup can get a bit confusing, but since you're looking for a student card, you can narrow it down to the 3 cards in the link @Hex provided. Try the pre-approval tool.

Re: Best student credit card?

disdreamin — Mon, 22 Nov 2021 00:52:45 GMT

@Anonymalous wrote:
The regular Chase cards are out, but if you're a student, the Chase Freedom student version should be fine. The rewards are only okay, but it's one of the few student cards with a sign up bonus, plus they give an annual bonus for good grades.

https://creditcards.chase.com/cash-back-credit-cards/freedom/student

I was completely unaware of that, thank you. I think I'll see if my student wants to drop in to a Chase branch while they are home over the holiday to see if they can assist with applying. I'm thinking they might want to have a banking relationship with the bank their cc is through so they can set up autopay from an account at the same institution (either push or pull). I'll also suggest inquiring at our CU if they prefer, since they already have deposit accounts there.

Re: Best student credit card?

Anonymalous — Mon, 22 Nov 2021 03:01:58 GMT

@disdreamin wrote:
@Anonymalous wrote:
The regular Chase cards are out, but if you're a student, the Chase Freedom student version should be fine. The rewards are only okay, but it's one of the few student cards with a sign up bonus, plus they give an annual bonus for good grades.

https://creditcards.chase.com/cash-back-credit-cards/freedom/student
I was completely unaware of that, thank you. I think I'll see if my student wants to drop in to a Chase branch while they are home over the holiday to see if they can assist with applying. I'm thinking they might want to have a banking relationship with the bank their cc is through so they can set up autopay from an account at the same institution (either push or pull). I'll also suggest inquiring at our CU if they prefer, since they already have deposit accounts there.

If your student want to set up an account with Chase, there's a $100 bonus for a new customer opening a college savings account, with fairly easy qualifying criteria:

https://www.chase.com/personal/checking/student-checking

Should be available in the branch, as well.