<p>does anyone use the college specific BoA platinum plus cards?</p>
<p>Wait, I thought it was bad (not really bad, it's just a "soft inquiry" which isn't exactly good) for your credit for you to apply for a card?</p>
<p>Actually that's true, I forgot about that. Apply for a credit card, whether or not you use it, will bring your credit score down by 30 points. </p>
<p>I think the only benefit to the college specific BoA platinum plus student is school pride and that BoA makes donations to your schools. Other than that, you still have the same introductory APR and the same variable APR.</p>
<p>How can you bring down your credit score if you have no credit history??</p>
<p>So I tried applying to the BoA student card and got this:</p>
<p>"Thank you for your application for a Bank of America credit card account. We regret we're unable to approve your request at this time. We will mail you information regarding our decision in the next 25-30 days."</p>
<p>Any ideas why?</p>
<p>anyone know about getting a credit card at 17? Many places have told me that my parents would have to cosign for me, but I worry that then I would not be able to build my own credit?</p>
<p>From what I understand, minors don't have a credit history and are unable to build credit.</p>
<p>anyone know about getting a credit card at 17? Many places have told me that my parents would have to cosign for me, but I worry that then I would not be able to build my own credit?
I don't know if this is right, but I was told by my mom that you have to be 18 to have an card with your name and the bill being sent to you. The only way to have one under 18 is to have your parents get one and link one to you, but still have the bill sent to them. Apparently the reason why you can't solely have one is because you are a minor and can't be held responsible for it. IDK. You don't really need a credit card before 18--just get a debit card.</p>
<p>I have the BORDERS 321 Visa, it seems to be working out ok and I also have thee mtu citi card. I use the BORDERS card for all my book buying adventures at the borders store (where I work) and at borders.com. I use the citi card for school stuff.</p>
<p>I sometimes get crazy though and when the balance comes, my jaw drops!</p>
<p>*Well if you don't activate the card then how can you use it? *
You can't. You also won't be charged anything. It's pretty much like you never got it.</p>
<p>Plus you can just call in and cancel.
I was told that cancelling a card is bad for your credit. You should just cut it up and throw it away.</p>
<p>If you start out with no credit history, how does applying for a credit card "adversely affect" your credit score? Can you go negative?</p>
<p>As I understand it, there is a certain score attached to "no credit history."</p>
<p>^I'm not too sure about that. All I know is that those inquiries stay on your credit report for I think it's 1 year, so if you get credit within that time, you will have -5to10 points. I think. Credit is really confusing.</p>
<p>Is there a reason why I am being declined? I tried applying to both Bank of America and American Express and was declined to both. I had my dad cosign over the phone a 2nd time with Bank of America (I have checking account with them) and was declined again. What is the reason for the decline if I don't have a credit history but I have checking with them? Isn't the whole point of a student visa for students without a credit history?</p>
<p>Kutibah,</p>
<p>I signed up for the BoA Student card today and chatted with one of their specialist before and during the application. He asked me some questions before I signed up to give me an idea on wither I'd be approved or not...</p>
<p>1- Are you a legal resident?
2- Do you have any loans in your name? (Govt Student Loans Count)
3- Do you make more then $200 a month? (Work, Loans, Scholarships)
4- Do you have any current BoA accounts?
5- Are you currently enrolled at a University?</p>
<p>I think those were the only questions, and I answered all of those right and he said he felt that I'd be approved. I applied and was greeted with the "we need more time to decide" page, but he informed me that when you get that page you passed the initial credit check they just need to verify information.</p>
<p>Also, with you being declined for these cards I think (don't quote me on this) it's some kind of federal law that they have to provide you with information on why you are being denied...</p>
<p>Hope this helps!</p>
<p>Yeah I asked why and they said they will mail me within 25 days a reason why but they cannot tell me over the phone due to privacy reasons.</p>
<p>
[quote]
Go with Bank of America (Student Platinum Plus) or American Express Blue (for Students).
[/quote]
</p>
<p>Hey, those are exactly my cards except my Blue isn't "for students" (unless they all are.)</p>
<p>Kutibah, I don't know why you got declined; did you put down "0" your income?</p>
<p>Both my sisters had Capital One cards first - they said they give cards to students often (and charge high APRs). I was going to apply for it and the next day they actually mailed me first saying I was "pre-approved" or something. Basically they said the card is designed for people with little to no credit history. After about 6 months I plan to add another card (with better benefits) but until then this will do. I have a $500 limit. I'm pretty sure it's the Standard Premium card. I applied online and it took about 20 seconds to be approved. I would recommend it.</p>
<p>Your school might have a partnership with a bank so you might want to consider that too. Or anything else that says "great for college students."</p>
<p>I have one but only use it RARELY (ie bike repair or unexpected pricey expense)</p>
<p>I use cash 99% of the time, no debit, credit, check,etc. I like to have everything paid in full and not risk the chance of getting a debit stolen (usually not reimbursed) or having a CC company "say" they got my payment late (hasn't happened to me, but have heard it from others)</p>
<p>Don't like the concept of credit cards in general...imo it has helped mask massive inflation over the past decades by not letting people see how much they are spending</p>
<p>For the longest time, American Express has been notoriously difficult for (new) students to sign up with, as I think for most of their cards, you need to co-sign with a parent. Not as many places accept AmEx, but they've got the industry's best buyer-protection program, and a lot of owner benefits.</p>