best CC for a teenager

[phatstyl]

i need to get a Credit Card and i am wondering what type i should get. APR is the biggest factor, credit limit isnt huge. Let me know what you guys had for your first cc.

 

[gopunk]

why is apr the biggest factor... do you plan on going into debt or something?

 

[ShotgunSteven]

The best credit card for a teenager is no credit card. Seriously.

 

[isekii]

just get a debit card..
then you dont have to worry about going over and getting into debt

 

[Zim Hosein]

Originally posted by: isekii
just get a debit card..
then you dont have to worry about going over and getting into debt

Another vote for a Debit Card, much more manageable and since it's your money to being w/, there aren't any APR's, hope this helps

 

[phatstyl]

low apr is a "just in case" type of thing
can i use debit cards online? that is a big factor as well.

 

[jonmullen]

Originally posted by: phatstyl
low apr is a "just in case" type of thing
can i use debit cards online? that is a big factor as well.

absolutly, my bank (Arvest) gave me a debit card for free that runs through just like a visa credit card.

 

[PsychoAndy]

Get a debit card, or a student credit card. First step towards getting a decent credit card, provided you don't rack up shitloads of payments.

i have an amex blue and gold now, so i'm already set.

 

[FoBoT]

Originally posted by: ShotgunSteve
The best credit card for a teenager is no credit card. Seriously.

yeah, how you going to pay the bill?

 

[HappyPuppy]

Originally posted by: ShotgunSteve
The best credit card for a teenager is no credit card. Seriously.

Word. Teenagers, living at home, don't need credit cards.

 

[phatstyl]

i have a job, and i wouldnt mind getting a decent credit rating early on in life. also its easier to pay for gas with a cc.

 

[ViRGE]

Originally posted by: HappyPuppy



Word. Teenagers, living at home, don't need credit cards.

I do have a credit card, and have to disagree with that somewhat. While I primarily use my debit card(through my checking account) to pay for things when I don't use cash, I use the credit card to pay for anything I'm purchasing over the phone/internet, since it's easier to recover money and otherwise protect yourself against fraud. In my case, the credit card is through my father(it's a "companion card"), so really, he's responsible for it even though my name is on it(on a side note, I get the same credit limit as a 44 year old well established male:Q A little too much for most teens).

A debit card is all you need for local purchases, but a credit card is still a good idea in this day and age due to the internet, because of the fraud protection offered. As long as you know your spending limits(I'm as frugal as heck, so that's not a problem), and your parents keep an eye on you(I'd get my butt kicked if I went spending-happy), they're perfectly fine for a teenager to have.

 

[KokomoGST]

yet another vote for debit card...

Actually my banking card is a CC/Debit card... Chase Mastercard... best to get one with reward points or airline points if you have that option.

 

[RossMAN]

I would first be concerned with getting approved for a cc rather than the APR, limit, etc.

 

[Lithium381]

I'm also thinking of maybe getting a CC.....i dont' have a checking account, so i couldn't tie into that with a debt card......i am 18......
would a student card be okay? what's the main difference between regular vs student card?

 

[Chaotic42]

Originally posted by: phatstyl
i need to get a Credit Card and i am wondering what type i should get. APR is the biggest factor, credit limit isnt huge. Let me know what you guys had for your first cc.

Don't get one. Don't go into debt, unless you have to. Get a Debit card.

 

[thomsbrain]

debit cards are the dumbest idea. why would you pay immediately when you could be sitting on that money for a month and earning interest on it? teenagers need to learn proper spending habits, and they won't do that in college. better to give them a credit card while they are still in high school. get a joint account so you can go over bills together. have talks with the kid so they know why any credit card debt is unacceptable. i've used credit cards since i was 16. i've never paid a cent in interest or fees, and i have more credit than most people my age (who got later starts).

apr should not be a factor at all. if you are worried about that at all, it shows you don't have the control necessary to keep out of debt. in that case, debit might be better. if you're going to be irresponsible, it's better to go broke than go into debt.

as for cards: capital one has online bill paying, no annual fees, and no minimum finance charges. also, they will give cards to monkeys with mental handicaps, although i think they draw the line at football players ( ). they are also good about raising your limit as you prove yourself trustworthy. so here's a vote for them.


edit: sloppy spelling

 

[thomsbrain]

Originally posted by: Lithium381
I'm also thinking of maybe getting a CC.....i dont' have a checking account, so i couldn't tie into that with a debt card......i am 18......
would a student card be okay? what's the main difference between regular vs student card?

how do you propose to pay your bill with no checking account? they aren't going to take cash.

 

[Lithium381]

Originally posted by: thomsbrain

Originally posted by: Lithium381
I'm also thinking of maybe getting a CC.....i dont' have a checking account, so i couldn't tie into that with a debt card......i am 18......
would a student card be okay? what's the main difference between regular vs student card?

how do you propose to pay your bill with no checking account? they aren't going to take cash.

MO?

 

[RossMAN]

Originally posted by: Lithium381

Originally posted by: thomsbrain

Originally posted by: Lithium381
I'm also thinking of maybe getting a CC.....i dont' have a checking account, so i couldn't tie into that with a debt card......i am 18......
would a student card be okay? what's the main difference between regular vs student card?

how do you propose to pay your bill with no checking account? they aren't going to take cash.

MO?

I have known people who pay EVERYTHING with MO's. They bounced a few too many checks and no local bank would touch them, so they don't have direct deposit, don't use an ATM, don't write checks, everything is cash & MO's.

So yes you can pay your cc bill with an MO.

 

[chemos]

A debit card is all you need for local purchases, but a credit card is still a good idea in this day and age due to the internet, because of the fraud protection offered.

Uhh, no. That's a poor excuse. Debit cards (aka check cards) are covered by that same fraud protection--provided by Mastercard or Visa, depending on which type of debit card you have.

debit cards are the dumbest idea. why would you pay immediately when you could be sitting on that money for a month and earning interest on it?

Because a months interest will amount to basically umm, nothing? Because not everyone knows how to invest or manage their money properly?

i've used credit cards since i was 16. i've never paid a cent in interest or fees, and i have more credit than most people my age (who got later starts).

Congratulations, you sound like a very responsible individual. Unfortunately, not everyone has that level of responsibility, especially at a young age. And not everyone has parents capable of educating their children on credit, much less themselves. Look around, and you'll find you're very much in the minority.

 

[VFAA]

Originally posted by: phatstyl
i need to get a Credit Card and i am wondering what type i should get. APR is the biggest factor, credit limit isnt huge. Let me know what you guys had for your first cc.

Student VISA.

 

[DanTMWTMP]

Originally posted by: isekii
just get a debit card..
then you dont have to worry about going over and getting into debt

agreed...until after u get a stable job during college and stuff, then biuld ur credit then..

 

[amdskip]

I've had a Capital One Visa card since I was 16 and have always paid it off in full every month. I have had my credit increased 3 different times.

 

[ViRGE]

Originally posted by: chemos

A debit card is all you need for local purchases, but a credit card is still a good idea in this day and age due to the internet, because of the fraud protection offered.

Uhh, no. That's a poor excuse. Debit cards (aka check cards) are covered by that same fraud protection--provided by Mastercard or Visa, depending on which type of debit card you have.

Chemos, that's indeed true in most cases. However, when your debit card is stolen, the money is gone until someone refunds it. With a CC, you have debt until someone revokes/removes it. That's a pretty big difference for a lot of people.