Credit Card help! should i get one? which one?

Question

im going to be a freshman in college this year, and im wondering, should i get a credit card before i go off to school? and if so which one? i might have a part time job at school, but is it better to not get one? i know i will have to pay for it monthly, how much is the average minimum payment? do you pay credit card bills online? hellppp!!

Answer 1

I would say don't get one, it is very easy to end up in trouble with credit cards.  However, that being said, don't worry there will be people at the college trying to get you apply for theirs.  The average minimum payments vary depending on the balance that you owe, and the interest rate.  If you have established credit or your parents will cosign for you look at getting a visa or mastercard from your local bank that you do buisness with, or better yet from a credit union.  They typically have better interest rates.  Look for a card with no annual fees, low interest rates, avoid the so called credit insurance, the 0.79 cents per $100 of balance they charge can add up to alot of money.  Most caredit card companies do allow for online payments.  

I very strongly recommend you think about this, get a checking account and a visa or mastercard check card.  They are accepted anyplace that accepts credit cards, the money has to be in your account so you are not in debt.  

Answer 2

Stay away from them!!!!  They are EVIL! They are the reason so many of Americans are in debt over their heads. And the CC companys love to target college kids... Be careful.

Okay on the other side it's not a bad idea to have one for Emergencies (keep a low limit to avoid temptation) but you have control yourself... a new DVD or this or that is not an emergency.

My 2 cents... trust me I have lived and learned on this one.

Answer 3

Amy is right - credit cards are evil and it's best to stay away from them.

You would be much better off using a debit card or a pre-paid card.  But keep careful track of your balances because the banks will let you overdraw your account so that they can collect the fees.

Likewise, with a credit card, if you have a low limit, it's more likely you will be hit with an overlimit fee.  If you must have a credit card, apply for the highest balance you can qualify for.  Otherwise, your debt to available limit will be high and it will harm your credit score.

The minimum payment will be equal to 1% of your outstanding balance plus any finance charges and fees.  So, it can vary from 2% of the balance to 4% or more, depending on your interest rate and any fees you might be subject to that month.  On a $1,000 balance, you can expect to pay a minimum payment between $20 and $40.

Answer 4

your credit is one of the most important things. If you are responsible, you can begin building your credit now.. many people your age get their first credit card.

here are the top 2 credit cards for students

Blue from American Express®

http://www.cardlister.com/CreditCards_de...

Citi® Platinum Select® MasterCard®

http://www.cardlister.com/CreditCards_de...

they have low interest rates, no annual fees, and great rewards.

the average minimum payment depends on how much you spend but it should not be more than $200.

you can pay the bill by linking it to your checkings account or by check.