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Old 05-02-2013, 03:02 PM   #1
westjones
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Credit Card for college students

I had my DD19 apply for a Disney Visa, but she was turned down (no credit history...which is why we want her to get a card to start building credit history).

So since college students can't get Disney Visas, what is a good card for them to get as a first credit card?

I don't want her to use it much, just once in a while and pay it off each month. But that way when it is time to buy a car she will have some credit history.
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Old 05-02-2013, 03:13 PM   #2
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Go to Capital One's website and you can do a pre-qualification to see what/if she qualifies for. My 1st credit card was either Sears or Best Buy.

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Old 05-09-2013, 03:31 PM   #3
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My kids both have State Farm Savings Bank Student Visa cards. They have a low limit. Not sure if they still have them avail.
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Old 05-02-2013, 03:15 PM   #4
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Quote:
Originally Posted by westjones View Post
I had my DD19 apply for a Disney Visa, but she was turned down (no credit history...which is why we want her to get a card to start building credit history).

So since college students can't get Disney Visas, what is a good card for them to get as a first credit card?

I don't want her to use it much, just once in a while and pay it off each month. But that way when it is time to buy a car she will have some credit history.
I got my first card through my bank, explicitly as a Student Credit Card. It had an $800 limit, so there wasn't much I could do to make things really bad for myself, and it allowed me to build my credit.
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Old 05-02-2013, 03:18 PM   #5
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Originally Posted by TinkerBelled View Post
I got my first card through my bank, explicitly as a Student Credit Card. It had an $800 limit, so there wasn't much I could do to make things really bad for myself, and it allowed me to build my credit.
I did that too.

Are you USAA members? I think they are good at granting low-balance cards to family members.
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Old 05-02-2013, 03:20 PM   #6
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My first credit card was a Discover card. I remember that being the only one that I could get at the time.
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Old 05-02-2013, 03:21 PM   #7
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Originally Posted by TinkerBelled View Post
I got my first card through my bank, explicitly as a Student Credit Card. It had an $800 limit, so there wasn't much I could do to make things really bad for myself, and it allowed me to build my credit.
That's what I did, too. Of course it was back in the 80s when the credit card companies were falling all over each other trying to sign up college students.

Maybe you can get a card for her with yourself as a co-owner of the account. Get it set up with a reallly low limit ($500 or so) and have her use it for something every month and pay it off each month. After a while, get yourself taken off the card. I would start with a local bank where she and you have accounts(not one of the big mega giant banks) - open a small savings or checking account if you dont' already have one there if necessary.
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Old 05-02-2013, 03:23 PM   #8
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OK thanks! I will check on those. And I only want her to have a low limit also....just to get started. I am shocked Disney Visa wouldn't give her one with a low limit. I even called and explained she was just wanting something with like a $500 limit just to get started, and she lives at home and both my husband and I have Disney Visas in good standing. All they could offer was to give her a card with OUR number to use, but that doesn't help her get credit.

But Disney Visa just lost a customer they could have had for life. Doesn't make sense.
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Old 05-02-2013, 03:27 PM   #9
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I don't want my name on it because I want her to establish credit.

I know there are companies who do give College Students card. We just wanted to 'keep it in the family' and get her a Disney Visa. I mean, who doesn't want a credit card with Mickey Mouse on it!
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Old 05-02-2013, 03:30 PM   #10
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Quote:
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I don't want my name on it because I want her to establish credit.

I know there are companies who do give College Students card. We just wanted to 'keep it in the family' and get her a Disney Visa. I mean, who doesn't want a credit card with Mickey Mouse on it!
She will still establish credit with your name on it. I was added to my mom's card at 16 and that established my credit for when I was 18.
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Old 05-02-2013, 04:00 PM   #11
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She will still establish credit with your name on it. I was added to my mom's card at 16 and that established my credit for when I was 18.
I agree. DD19 has an AMEX on our account. She can view her purchases online and it shows on her credit report.
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Old 05-02-2013, 05:38 PM   #12
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Do you belong to a credit union? My DS (now 19) got one when he was 18 through the credit union. I think he has a $1500 limit (though not for sure). He's done really well keeping it at a zero balance by the end of the month. He probably could get a limit increase, but hasn't tried because right now it isn't needed.
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Old 05-02-2013, 05:44 PM   #13
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I added my dd to my Discover account. I did it for two reasons honestly. She is away from home, a couple hours away. The Discover, in a pinch..and it better be a big pinch..she can get actual cash of 50.00.

I got added her freshman year. Last year she applied for a capital one account. She was approved for a low limit of about 500.00. Which is good for her. She knows how much she will make so she knows if she charges she has to pay it off quickly.

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Old 05-02-2013, 05:45 PM   #14
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Add her as a joint owner to one of yours. It will count against her credit history too.

My son got his first CC thru a credit union but it was a secured credit card for 500 limit but there was a 500 hold placed against his savings account. So basically that's what he started w/to build his credit.
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Old 05-02-2013, 07:20 PM   #15
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Quote:
Originally Posted by Liberty Belle View Post
Do you belong to a credit union? My DS (now 19) got one when he was 18 through the credit union. I think he has a $1500 limit (though not for sure). He's done really well keeping it at a zero balance by the end of the month. He probably could get a limit increase, but hasn't tried because right now it isn't needed.
I agree, check with your credit union. Ours have a credit card for 18 and up with only a $250 limit. DD18 signed up for it and got it before she went to college in August. I figured it would help her get credit history and its only $250 so she couldn't run up $5000 and deal with trying to get it paid off. Its just enough for her to put gas on it or order something on line when she needs to. I know we didn't cosign for this credit card for DD. Now she does have a savings and checking account at the same CU so I don't know if that makes a difference.
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