<p>UVM is correct. Being a signatory on your parents card does nothing for your credit rating. You must be the primary on the card or a spouse. Someone earlier made the suggestio to check your credit reports. Based on the number of rejections you are getting, I would do that immediately to make sure that something isn't amiss or that someone has not stolen your identity somehow on at sometime.</p>
<p>Again, to get started, try contacting First Financial Bank either on their website at <a href="http://www.1fbusa.com%5B/url%5D">www.1fbusa.com</a> or give them a call at 800-733-1732. They specialize in student visA'S, OFFER ONE THAT NEVER CHARGES INTEREST IF YOU KEEP YOUR BALANCE BELOW $250 or pay your balance each month. You may get a very low limit $250-500 at first, but they seem to be willing to raise it very soon after you make a few on time payments.</p>
<p>UVM, I don't think you're correct about the Citi card $12k minimum because I have a dividend rewards card through them with a $5k credit limit and I make well under $12k.</p>
<p>^when you applied, what did you put down as your income? </p>
<p>When I was looking at applications, it was clearly stated in the terms and conditions that a $12k minimum yearly income was required, which is why I shied away.</p>
<p>i completely disagree, i think when you're an authorized user under your parents credit card(and they ask for the authorized user's social security) it definetly does something for your credit history.</p>
<p>I say this because i was on my mom's discover card, and i believe here citi card, and when I came to be 18 years old, I applied on my own for a citi card and they gave me a credit line of $8,000 with 0% apr for the first year on purchases and balance transfers. Right now I have chase with a credit line of $5000 with O% interest til may 2007. </p>
<p>I think it also has to do with the income you put on the application. Because when they ask for household income, instead of your individual income, it looks like one makes a lot. I always put the household income(that's what they ask for) on the application, and considering that both my parents work and my siblings, the income is not in the teen-thousands.</p>
<p>For example, I am an authorized user on another card. When I look up my credit score, that debt is included in my total debt, but it does not credit me when the bill is paid on time. It simply says "pays as agreed" but since it notes "authorized user" most institutions ignore it since you are not primarily responsible for managing the credit. </p>
<p>0% interest for 12 months isn't really a bonus- most cards offer this now. As noted, citi is known for issuing cards with high limits to students, mostly because they stand to profit if you default on a high balance. </p>
<p>liek0806 is correct. Stop applying for awhile. Actively searching for credit is detrimental to your report. You can try citi, though, if you haven't already since they have no minimum income and no cosignor required.</p>
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i completely disagree, i think when you're an authorized user under your parents credit card(and they ask for the authorized user's social security) it definetly does something for your credit history.</p>
<p>I say this because i was on my mom's discover card, and i believe here citi card, and when I came to be 18 years old, I applied on my own for a citi card and they gave me a credit line of $8,000 with 0% apr for the first year on purchases and balance transfers. Right now I have chase with a credit line of $5000 with O% interest til may 2007.
[/QUOTE]
</p>
<p>i did something similar....I used to buy my school books and stuff on my card... even though it was under my parents' account...</p>
<p>all of a sudden I started getting pre-approvals in the mail...so I signed up for one...it was a bank of america visa card and they gave me a 15k limit...</p>
<p>I'm still getting pre-approvals in the mail at least once or twice a week from various companies...</p>
<p>Why would you care about the interest rates? Carrying a balance is stupid. If you need money, you can find more suitable alternatives than credit cards. They are the worst possible way to borrow, hands down.</p>
<p>I applied for their student platinum card when I was 18 (my only other card was a gas card in my name connected to my mom's account) and they gave me a 3,000 limit. </p>
<p>Two years later, its a $7500 limit. I had to request that they not automatically raise it anymore because I definitely do not need $10,000 in credit floating around.</p>
<p>Slorg- Not necessarily. Some credit card interest rates are lower than outright loans and give you the option to pay far more than the equivalent monthly payment when you can, and less when you might get a little stuck for money.</p>
<p>For some necessary purchases, like a computer for college, this can actually be the smarter way to go. I don't recommend it if it isn't necessary, but for example, a $2400 personal loan from my bank would have had a 14.5% interest rate and a term of 36 months, while a credit card interest was 10.99% and the term was as short or long as needed. Also, no down payment is required. </p>
<p>Borrowing money is never a great idea, but if it has to be done, credit isn't necessarily the worst of the ways to do it.</p>
<p>If you have had a credit card for a while you can usually get two years wityhout any interest rate. one of my chase cards( i have 3) offered me and my father this, and he used it to make a really large purchase. he kept that money in the bank, and then paid for the purchase two years later right before the interest started to charge so he could make interest. sometimes it makes sense you just have to look at the situation</p>
<p>Slorg- My bank sucks? on the contrary, they charge me no annual fees, overdraft fees, finance charges, have a live person on the other end of the phone 24/7, and provide low interest rates regardless of your student or credit status.</p>
<p>14.5% is pretty standard for a personal loan. I don't think it's a bad rate, but you can save money on the interest if you have to make a purchase like that.</p>
<p>My bank is certainly kinder to its members and has better loyalty benefits than a big national bank, so I personally don't think it's a bad deal, and it's really my opinion that matters, no?</p>
<p>and my credit score is fine, pretty high actually, so I don't think that's the issue either.</p>
<p>back on topic to the original poster. Chill out on the applications for a little while, or make one last one to a bank like citi that is really likely to approve you. Multiple inquires in a short amount of time impact you negatively. If you keep getting denied, go to the bank where you have a checking account and talk it over with them. They may be able to help you with a secured card or some kind of other arrangement.</p>