Question for ppl who know a lot about credit cards?

I have no credit, and need to establish some. I am a 20 year old college student and make $9 an hour. I need a credit card that lets me get credit. Here are my choices:

Capital One庐 Platinum for Students

Capital One庐 No Hassle CashSM Rewards for Students

and the link for the site where I found them:

http://www.creditcards.com/college-stude...

any help with choosing one would be greatly apprecieated.

Question for ppl who know a lot about credit cards?

I work in the credit card industry making decisions to either approve or deny people credit all the time. Since you%26#039;re a college student, normally I would tell you to go for the student cards, but since you%26#039;re working part time, what I would suggest is opening a secured credit card. The main difference between one of these and a student card is that with the secured card a deposit which is used as collateral is placed upfront to establish a credit line. For example, if you deposit $300, then your credit line is $300. The deposit is usually linked to a savings account which can earn interest while you%26#039;re building credit. Not only you%26#039;re able to increase your credit limit easier with a secured card, but you%26#039;re also starting an emergency fund that you can use a little later on down the line.

A perfect way to use the card to build credit without getting yourself into trouble would be to make SMALL purchases ($20/month max), pay it off on time every month and add to the deposit to increase the credit line. Increasing the credit line while keeping the balance paid, also helps build credit becuase it creates a cushion between the available credit you have and what you%26#039;re using. By you putting up the deposit, it gives you even more incentive to be disciplined to manage the account because your own money%26#039;s at risk. Usually after a year of paying on time, the card upgrades to a regular card and the deposit is given back, which you can use as an emergency fund, which can be really helpful especially while you%26#039;re in college.

I posted several links to some secured cards that will help.

Question for ppl who know a lot about credit cards?

You should also check out Citibank or Citicards.

Question for ppl who know a lot about credit cards?

Either one is okay as far as credit cards go. Compare the interest rate on any unpaid balance. But my recommendation is that you should pay off your balance each month before the interest is applied. Look on the written agreement which is given by law on each offer. It will tell you what your billing period/grace period is for carrying a balance before the interest is applied against it. Most cards have a 25 day grace, but some have up to 30 days.

Question for ppl who know a lot about credit cards?

Capital One stinks because they offer no reward program and awful customer service, IMO.

Check out the Citi Bank cards because they have a great Thank You reward program.

Check out the source, that website I listed is very reputable among the student credit card industry and offer EVERY credit card available to a college student. Check it out.

Question for ppl who know a lot about credit cards?

unfortuneately since you have NO credit getting approved isnt going to be easy. Even if you are a college student.

You will probably have to get a secured card. A good one I recommend is First Premier Bank. they have an annual fee that already comes charged to the account.you pay that off and never use it again, after 12 months close the account before the annual fee accrues. You will build solid credit history this way.

After 12 months your credit score will be high enough to qualify for a better card.

Question for ppl who know a lot about credit cards?

I wouldnt go with Capital one at all...Poor customer service, and horrible intrest rates.

Maybe start at your bank, with some small signature loans, or a jewelery store.

Credit Unions usually have good programs for young adults trying to establish credit, with fair intrest rates. See if you can become a member of any local Credit Union. Good luck.