1st Financial Bank Student - Worth it?

[Anonymous]

Hi,

I turned 18 a couple of months ago and immediately applied for a few credit cards on the same day. After being rejected by the really good ones, I was auto-approved for the U.S. Bank Student CC with an initial $300 CL with zero credit history. Originally, I planned on keeping my U.S. Bank card for a while to build my credit up so that I could apply for a different one later down the road. However, I received an invitiation in the mail last week to open a new card with 1st Financial Bank. From what I've read, this card is basically auto-approval for fresh 18 year olds (why is that even legal?).

I'm debating as to whether or not I should accept the offer. Obviously, the card is going to be tossed into the sock drawer due to its high APR and archaic payment system. Assumsing I was responsible enough to mange an additional card, do you think me having this second credit line is worth it? 

[Kenny]

If it already sounds like it won't work -- can you imagine if you actually accepted it? Sometimes you just have to trust that you know best and you do -- don't accept less than what you deserve right now! The US Bank CC is great right now and I'm sure if you use it, it might grow -- and not to mention that later this card can be credit limit increased and product changed eventually to the Cash plus card which is a super awesome card -- and could potentially be with you for your whole life. What a stellar age of accounts that could be.

You've already made good choices -- give your self 6 month increments to reevaluate and see how you're doing with your credit and what you should be doing then. Sometimes and most times it's nothing, but sometimes you need to act. You'll know when. And if you have doubts -- just ask! There are a plethora of sage people here that I would take their advice anyday.

[Josh2942]

ignore first financial. I get them every year. ITs garbage.

[laz98]

If you're talking about the 1FBUSA card, I agree that it's not the best card in the world.  The APR is super high & it doesn't have any rewards to speak of.  But we had it when credit was still super easy to come by, & that limit skyrocketed up for us.  It's our 2nd highest limit now, only recently surpassed by Navy Federal.  So even though we hardly use it, I won't be closing that card for any reason.  It's one of our oldest cards.  The only downside (well, for me) is that it does have an AF.  I pay it every other year, & ask them to waive it the other years.  I figure I can toss them a bone once in a while.  I know that's a pretty unpopular attitude around here, but that's what we do.

[destine2grow]

I say ignore it and stick with the card you have. If you garden for 6mths to a year you should be ok. Good luck!

[manwoot]

If you weren't approved for anything else, I'd say go for it.  I had it and as long as you stay on top of your bills its not a bad card to have.  I wish I wouldn't have closed it now because it didn't have an AF and is my oldest revolving credit line.