<p>Is there a credit card that is better than the others. They all seem pretty similar to me.</p>
<p>The only good credit card is a dead credit card---LOL!</p>
<p>i had a capital one credit card.. i got it when i was 16 and in 11th grade. i still have it now.. although i just applied for a new capital one card, but i havent heard anything from that one yet.</p>
<p>Get one where you get frequent flyer miles.
AA Mastercard has been pretty good for us so far, and the limit is pretty low, so if S decided to abuse it, he can't get very far.</p>
<p>Be careful if you got a credit card before you turned 18--It might not count on your credit history. My son got a credit card before his 18th birthday (with my husband as a cosigner) and after 4 years of great credit, it doesn't show up on his credit report because they listed him as "an approved user"--even though the bills are addressed to my son!</p>
<p>I think the most important conideration is the credit limit. "Student" credt cards typically have a limit of $500 or $1000, making it difficult to get too deeply in debt. My son applied for a Citibank student card that offers 1% cash back. I would also warn students not to be tempted by the free tee shirts and many other giveaways that are offered on campus to credit card applicants. One card is all any student needs.</p>
<p>I would advise going for the $1000 limit over the $500. One semester my son's books were very expensive, and since he had just spent some money on computer stuff as well, he ended up going over the $500 limit by about $7. The credit card company charged him a hefty fee for going over his limit! We switched him to a Discover card with $1500 , and the cash back rewards are great.</p>
<p>The problem with the student credit cards that supposedly give very low credit amounts is that in no time flat they raise the amount for "your good credit." So, I see that as sort of a trap. I just don't think kids should have two or three (or more!) thousand dollars of spending limit.</p>
<p>We have an Amazon Visa that gives a good rebate that can be used for anything on Amazon. I hate frequent flyer miles because they are just too hard to use.</p>
<p>The one application I read stated that the credit limit would not be increased for some specified period of time. I don't remember exactly what it was, but it must have struck me as reasonable.</p>
<p>I also have the Amazon card. Between their prices, free shipping and 5% rebate, I'm ordering a lot more than books from them.</p>
<p>Plane tickets are also very expensive & if your child MAY need to charge a plane ticket, it might be good to be sure the credit limit would be able to handle it.
My dad gave each of us a credit card (billed to him) when each of the 7 of us went to college. None of us ever abused it (don't think any of us even used it, but knew it was there if we needed it). I may do this with our son--he's very responsible. One problem--let your kid know what to do if card is ever lost or stolen, especially if it's a joint account with you! Place fraud alert & notify all cardholders, etc.</p>
<p>My s will be applying for one shortly, and I want him to receive and pay any bills. So... should he put his on-campus address on the account? Or, should he use his home address, and just sign up for online bill pay? How do most people handle it?</p>
<p>I can tell you how we handle bill paying. Daughter has a card in her name. I have nothing to do with it. The bills come here, so that she doesn't have to change the address so often. I keep a sheet of labels with her address on them. When the bill (or anything else for her except junk mail) comes, I stick a label over her home address, put a stamp on it and mail the entire bill to her, unopened. What, how or when she pays is up to her.</p>
<p>Peg</p>
<p>Hmmm... hadn't thought of doing it that way! Yeah, with on-campus addresses being so temporary, that was my concern.</p>
<p>Getting them as freshman is probably a good idea. We didn't and my daughter, now a junior, was denied a credit card because, "she has no credit history". We're looking for a credit card with miles and one that will take a student... Any suggestions?</p>
<p>I got my first credit card in my first year in college, when I was 18. I only have a 400 euro credit limit... wouldn't really want any more being honest.</p>
<p>kosha - mine's definately on my credit report. I think it depends how you do it.. for example if a kid gets a card on his parents account (but the card in his name) i don't think that counts on the kids credit rating.. but if the kid gets a card in his own name but with parents cosigning, that does count.. (from what i've experienced anyway)</p>
<p>and to weenie - my limit has increased 2 or 3k over the last six years.</p>
<p>My son's credit card application was definitely filled out solely for him, with my husband cosigning...We were shocked to find out that it did not show up on his credit report. Maybe it is just how CapitalOne set it up, but it has been very frustrating. I guess what I am suggesting is that all college kids should check their credit report yearly to make sure that it is correct...it is free to do so now...(we did check my daughter's credit report and hers is correct, but we used a different credit card company for her).</p>
<p>My children are starting their junior year of college and we have not run into any situation where their VISA debit card didn't work just fine as a credit card. We have a somewhat unusual setup; they have joint accounts with me, which means that I can check their balance--and transfer directly into the account if needed. They call me after they buy their books and the money goes in (it's the only item that isn't a flat sum--they get a monthly allowance and a semester-long food allowance); I buy my son's plane tickets myself (using frequent flyer miles, mostly). </p>
<p>They are VERY clear that they have too many friends in debt to their eyeballs from a combination of loans and credit card debt, and they don't want to go there. Having a credit rating can wait until they have a job.</p>
<p>DD has her own credit card, but bill comes to her home address. I either email her, and she pays it online - or sometimes I pay it online for her. (I have her online billpay info.)</p>
<p>Peggy that's agreat idea. We just set S1 up with a card (got the limit lowered to $500) and were planning to change the address to his campus address, but I think we'll use your system instead. Thanks for the tip!</p>