best CC for a teenager

[fyleow]

I have a platinum check card from my bank with a $2500 single purchase limit heh....and I'm 16.

I'd say that it's better than a credit card because first you have to be approved (minimum age is probably 18) and you can't get into debt with a check card. It doesn't build credit rating though so that might be something to consider. It's basically a credit card (accepted anywhere Visa is accepted) but you use money from your checking account instead of loaning it from the bank. Good way to steer clear of bad habits. I doubt I will go into debt though, both my parents practice very good spending habits and they always pay in full.

The only advantage I can think of versus a CC is that a check card has no limit. You can spend as much money as you want in a month (there is a single purchase limit of course).

Why do people get cash cards anyway (not check card)? My dad has an Amex Gold and I don't see the point of it (well besides BVG). The benefits are pretty standard and his Amex platinum probably has most of that too (My Bank of America card has purchase protection (BVG with a lot of hassle), theft protection, damage protection etc). And I don't have to pay an annual fee.

 

[GoingUp]

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

 

[rayma2]

lots of banks have student CC.. those usualy have good deals.

 

[thomsbrain]

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?

oh yeah, duh. my bad.

 

[thomsbrain]

Originally posted by: chemos

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?

why say no to an extra $5 or so a month?

 

[ShotgunSteven]

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.

I pay my credit card bill online. No charge for me, although some companies do charge for such a service.

 

[Tominator]

The average US household has about $7000 in credit card debt. I'll bet most of those households have a decent credit rating.

best CC loaded gun! for a teenager?

 

[incallisto]

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

Exactly.

 

[JSang]

having a credit card is good if ure responsible....helps build ure credit..
get an amex blue for students

 

[MercenaryForHire]

You can build credit other ways than a CC.

When I applied for my Visa, I already had a flawless ranking thanks to having paid for cable internet for the family & cell phone for years previous. Hello, spending limit.

This is something my economics prof taught me regarding credit ratings. Put everything on your CC - but pay it off right away. He did that for three years.

He can now put a new BMW on his Visa. :Q

- M4H

 

[Mday]

if your parents use credit cards, tell them to make a new account, and put you in as a card holder.

if your parents dont, try a capital one, or providian visa. stay away from cards that have an annual fee. just reject those. then, when you call to activate the card, tell them to lower your limit.

another alternative is to go with a larger bank, like citibank or fleet or chase, or whatever... a local bank may offer you a good deal on a credit card with them, go with a parent.

 

[pdo]

get a debit cards but don't use it online. It's a pain when you need to dispute a charge unlike credit card.

 

[isekii]

Whatever you do~

DONT GET CAPITAL ONE~!

it's garbage~

Get Amex Blue for students instead
You have to prove that you are attending a listed College or University

Requirements are low... and depending on how much money you have you'll probably be approved for about 1200 bucks...

that's if you go with a credit card instead of a debit card.

 

[isekii]

Originally posted by: .paldo
get a debit cards but don't use it online. It's a pain when you need to dispute a charge unlike credit card.

That's absolutely false..

I had a questionable charge on my debit card..
I called the number on the back of my card..
and told them I never made a purchase from certain such and such store.. they were more than glad to take care of it for me..
Took them about 2-3 days to send me an affidavit to sign that I indeed did not make the purchase..
and within about a week or so the initial credit that they issued me was available.

 

[Mill]

Originally posted by: tdas2

Originally posted by: incallisto

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

Exactly.

 

[PistachioByAzul]

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

Or a debit card. I don't think it's particularly wise for anyone to spend too much money that they don't have.

 

[Trevelyan]

Originally posted by: isekii
Whatever you do~ DONT GET CAPITAL ONE~! it's garbage~ Get Amex Blue for students instead You have to prove that you are attending a listed College or University Requirements are low... and depending on how much money you have you'll probably be approved for about 1200 bucks... that's if you go with a credit card instead of a debit card.

I'll have to disagree with you there... I'm 17 now, and my dad got me a Capital One Student VISA Card (1-800-955-7070) when I turned 16, to teach me responsibility... He set the spending limit at $300. About a year before that he helped me open a savings and checking account at my local bank, and now every month I pay my credit card bill online directly from my checking account.

I must say I've become very responsible. I've never missed a payment and I've always paid the entire balance each time. In fact, I have such good credit with them that last month I called and they upped my credit to $800

(Oh, and YES, I do have my own job, and NO my parents do not pay for anything... thank you )

 

[Vadatajs]

Originally posted by: 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.

Do NOT listen to him.


Student cards are just an excuse for CC companies to charge insane interest rates. Go with a debit card. If you do decided to get a student credit card, your first purchase with it better be a vat of vaseline for when the bills come.

 

[Trevelyan]

Originally posted by: Vadatajs

Originally posted by: 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.

Do NOT listen to him. Student cards are just an excuse for CC companies to charge insane interest rates. Go with a debit card. If you do decided to get a student credit card, your first purchase with it better be a vat of vaseline for when the bills come.

The insane interest rates are just (for me) an incentive to pay my bills ON TIME, like you should.

 

[phatstyl]

i cant get an amex blue studnet cause im not in college yet.
what card do u guys have that offers the best perks. For example sony has a rewards catalog at certain dollar amounts.
I will pay on time for sure, my parents would kill me if i didnt, and i know how much money i have in my bank account.

 

[RossMAN]

Originally posted by: phatstyl
i cant get an amex blue studnet cause im not in college yet.
what card do u guys have that offers the best perks. For example sony has a rewards catalog at certain dollar amounts.
I will pay on time for sure, my parents would kill me if i didnt, and i know how much money i have in my bank account.

CitiBank look under Rewards.