What is the best way to get my first credit card to build credit?

I'm a college student and would like to get a credit card (for building up my credit for my future). I have a savings account, and have some money in it. I am also a full time student. I also do not have a job. What is the best and safest way to get my first credit card where I will be approved?|||Since you are a college student, most credit card companies would probably be thrilled to issue you a credit card (they make a lot of money by taking advantage of college students) but as long as you are responsible, you can make them work for you and see to it that they never get a penny of interest from you. Just be sure to make your payments on time.





I'm surprised you're not getting offers in the mail already (I used to get them every other day or so). Just contact Chase or Capital One and see who has the best offers. You should be approved for at least a small line of credit, no prob.|||go to http://www.rscreditcard.com/ and sign up for a Credit Card this site has all the major credit cards

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|||Hey, if you're looking just to build credit, there are ways in addition to credit cards: CD loans, car, house, student loans, etc....all those go in to your credit history. Assuming you're responsible and pay on time and keep low balances, you'll have fantastic credit.





I write a blog on personal finance and wrote an article about establishing good credit:





http://www.sweetsoundofmoney.com/2008/04/11/establishing-good-credit/





Check it out and hopefully you'll find some info that helps. Good luck!|||check www.myfirstcreditcard.com.au to see what the providers are after they are some non bank lenders on the panel good luck|||Store credit is the easiest such as Sears. You could also try HSBC or Washington Mutual which are very "new to credit" friendly.|||Go to www.bankrate.com and it can help match you to the proper credit card. They had some on there for students last time I looked.

How long after paying off a loan or credit card, does your credit record change?

Just wondering, as i intend to buy a house next year and want the best possible credit score.





At the mo ive got a loan and a credit card, which makes your credit score lower right?





Anyone know anything about it? And how long does it remain on your credit record and effect your score?|||Having a loan and credit card balance may not lower your score.


It's a whole picture sort of thing ... basically your plus money (income)


vs your minus (debts) and what you've got in the bank and how well


you pay your bills - they like to see you pay consistently and on time


not always paying everything off (besides a balance makes them money) How long it takes to change a credit score ? don't know but


I'm sure like everything else a negative probably shows up faster than a positive ---- and good luck on your home purchase !|||No, having a loan and a credit card doesn't lower your score. As long as you pay them on time, they will build your credit score.





It is best not to carry balances on your credit card. Use it and pay it in full every month. This will give you more good payment history -- the longer the good history, the better the score.





If you only have these two items on your credit report, you might want to get another major credit card to expand the number of tradelines. Use the card for small purchases every month and pay in full.





Many other factors go into consideration for a home loan. Your employment history, salary, debt to income ratio, assets like saving/IRA/401K, and downpayment.





If you are not already doing so, put a set amount in a savings account every payday toward the downpayment and closing costs.

What happens to a prepaid credit card when the money is spent?

I know how credit cards work, and for the most part prepaid(even though I've never used one), but I'm not sure about what exactly happens when the full dollar amount is spent on the prepaid card.|||Some are reloadable but most are simply garbage after they are empty .... shred it.|||bankers come round to your house and eat it

I have a credit card limit of $500 where should I keep my balance to raise my credit score?

I am young and broke, what is the most i can have on the credit card and still raise my credit score?|||Making purchases and paying it off each month is fine. Some prior clown said paying it off makes you a deadbeat... this is in the eyes of the credit card companies. They don't determine your FICO by how much money you make for the credit card company. It is determined by percentage of available credit in use, your payment history and age of accounts. Please see:


http://www.myfico.com/CreditEducation/Wh鈥?/a>





Don't apply for more cards either. 2 major cards are perfect. Your FICO takes an 8 point hit just to have credit pulled and then negative impact for frequent credit inquiries and new accounts.|||u have a suky credit card man|||The best thing to do is charge about $100 and pay it off. Then close it. They do like you to have an open 0 balance. If you charge on it and pay it off, it shows a good pay history, if you just leave it at 0 and never charge, it doesn't do you anygood. Make sure you apply for cards with no annual fee.|||http://www.daveramsey.com/





Try here|||Housewrkrm is WRONG!!!!! In the halls of the credit card companies the definition of a deadbeat is someone who pays off their balances each month. The CC companies make money only when you use your card and carry a balance. With a $500.00 limit you should carry a balance of no more than $249.00 (%26lt; 50% of the credit limit). That will build your score the fastest. Also, get more cards from department store or gas companies and follow the same rules. Your score will climb!|||Do not charge over $250.00. Pay it off before the bill comes out. Even if you pay it a couple times a month. Used it for things that you would buy every month with cash like gas........ You could over pay by $5.00 each month to show a postive balance. Your credit score with increase.|||zero|||Greetings,,,,





Keep your balance less than 50% of available credit... You should leave a small balance on it... For two/ THREE billing cycles.... THIS will look good to the credit company.... Now for your credit score, a forward balance does not matter.. As long as it is paid on time,,,,, But you do not want to exceed 50% of your avaialbe credit... Use to a 0 balance could effect your score but the federal goveremtn said NO to this...





No matter what pay your credit card on TIME, even if you have to sit in the dark for a few days..... Do not go over your limit this will affect your credit score, ALSO the issueing company will not raise your limit if you go over all the time...





Also, do not pay it off and CLOSE your account... Your credit score looks for LONG account history...|||as long as you make the required payment when it's due , you will have a good rating


the over due payments are what's reported on your rating|||Have a look here.

What is the best credit card with low APRs that updates you on your credit score?

I already have a bank of america credit card but as for now they won't increase my credit line is there another credit you think is good that i can get? I always pay ALL my bills on time.|||The easiest right now since it's Christmas is a department store...

What happens if you overpay on a credit card?

Say if you owed 拢100 on a credit card and you accidently sent a payment of 拢200 would you be 拢100 in credit or would your payment be declined? Is it possible to have positive credit on a credit card?|||it will appear as positive credit, there is nothing to worry about ive done it loads.|||Of course your account just goes into credit|||If you 'overpay' on your card it will just show up as a credit on your account. If you owe more in total than what you sent, the remainder will be applied to the principal. However, you will still owe another payment next month. Example: My Credit card balance is $400, my minimum payment due is $20. I send in $40. The remainder of the minimum payment due ($20) will go towards the principal. It will NOT cover 2 payments, you will still have to pay a minimum next month. It is possible to have a credit on a credit card account.|||Your balance would show as a negative by the amount yuo overpaid but you would be in credit so to speak and have the money available to spend|||Yes, it is possible to be in credit on a credit card account. I have sometimes done it to make sure that I cover next months' interest payment (if any) or if I am likely to be away from home when the next bill comes in. This keeps charges down, but of course they do not pay you any interest.|||I doubt that there would be any restraint on having extra credit on your card because that has to be something that happens frequently. Probably not a 100.00 worth, credit non the less. Good question.|||The overpayment amount would automatically go on your card,and be deducted from next months payment. I regularly pay a bit extra on my credit card when I can,so that the next months payment will be minimised,just in case I come into unexpected financial difficulties.|||the account will just be in credit thats all.|||You would have a credit balance on your card, which you could then use for purchases OR request a credit balance refund. If you go the route of a credit balance refund make sure to check how long the process takes. While most companies do this within 2 weeks, some may take up to 60 days.





onequesti0n|||yes you account goes into credit - HOWEVER





there is a pitfall here, that few people realise. If you buy something when you are "in credit" then the item is not covered by the credit cards insurance because you are not buying it under their "credit" agreement.





so spend it on something like a resturant meal where you know the goods are not going to fail and you have to make a claim.|||If you over pay on your credit card your outstanding balance will be paid off, and you will have a positive balance.





I usually do this if I have extra cash laying around and I want to see it put to good use. When it comes time to pay off next month's credit card bill, it'll come as an added bonus to yourself knowing that you don't have to pay as much.|||Yes, the acount just shows a credit that's all. But the money earns hardly any interest at all.





I have quite often inadvertently overpaid in the past, it's no big deal. It is still your money after all!!|||Some companies will return it to you, and others will simply credit you and extra 100. Just to make sure you should call them, you don't want to be out 100.|||Been there. Done that. Paid twice by accident.





They simply show it as a positive balance.|||Don't do that go shopping instead !!!|||i would think that you would have 100 on your credit card. that makes the most sense to me|||It never happen to me; but I do believe your credit card company or bank will accept your payment and credit the overpayment to your credit card account.

What do you consider low-interest rates on a credit card?

I'm a college student and I've never had a credit card of my own and I would like to get one not to go crazy with it or anything, but to start building my credit. I don't want to get the first credit card they offer me but I want to get one that has the lowest interest rates. What are considered low/high interest rates? Student credit cards? Any tips or a website that can tell me to easily avoid debt although I plan to have it only as an emergency card?|||How to build credit and get top scores at the same time (with time):

Use your credit card for small things you need like food or gas.

Pay in full each month.

52% of Americans use cards this way.

They carry the top scores.

Carrying balances is an easy way to destroy credit.



You don't want a low interest card. Why?

This will only tempt you to carry balances.

When you pay in full each month, you never pay interest.

So let that interest (APR) be 99.9%. You'll never pay it.



You only plan it to use in emergencies?

You need to set up an emergency savings account for this. Not a credit card.

Again, you need to use your card to develop credit.

If you don't use it, the credit reports will show $0 balance - no benefit.

Use it for very small things, and pay in full, and get scores that will amaze any future creditor|||If you have no credit history, you are not going to qualify for low interest cards. You may not be able to qualify for any unsecured credit card. You may have to start with a secured card -- you pay a deposit which is held as collateral against the line of credit.





Go to your bank and apply. Look for a card without an annual fee. Don't worry about the interest. Use the card for regular purchases, wait for the statement, and pay the balance in full every month. That way you will build credit history and avoid interest. The interest rate won't make any difference if you never carry balances.|||Well, you should only charge as much as you can pay IN FULL when the bill arrives, then you will not get charged ANY interest.





DON'T get a credit card for emergencies. The last thing you need in an emergency is to charge something and end up paying a fortune in interest on the item. You need to save up a "baby emergency" fund of $1,000. Better yet, save up a real emergency fund of 3 to 6 month's expenses.|||About 10% but if you don't carry debt on it, it really doesn't matter much. The best way to build credit is to use it regularly but to pay it off every month. Look for a card that gives you cash back and doesn't have an annual fee if possible. Student cards usually mean your parents are cosigners but you get a credit rating out of it. Usually a good deal.



JourneySM Student Rewards with Capital One looks pretty good. Higher interest but no fee.|||Being a student, you WILL NOT get low rates....period. In fact, you will get some of the highest rates allowed by law since you do not have established credit. Low rates are generally anything under 10% and high is anything over 20%. For your first card, consider anything under 25% a huge victory.|||If you want to establish good credit I suggest you forget about what the interest rate is and pay off your bill every month. I have excellent credit because that's what I do.|||200%