<p>Just be careful if you order Capital One CC for use internationally. Try using it for awhile before actually travelling. Their security verification system is overly cautious. They called you for your first charge, asked all sorts of detailed personal information to ascertain you are the rightful user. We ordered the card about one month before travelling to Canada and the calls came home, our primary number, so we could not verify the charges. They put a freeze on the card and I was on the phone for 3 days trying to straighten things out. What pain! We are now heading to Europe and even though we have notified them of our travel plans, I am keeping my fingers crossed.</p>
<p>My D got one through USAA without needing parent co-signor. It is a small limit but the whole reason is for emergencies and credit building so it has worked for her. I will say too though that Old Navy will easilly let 18 year olds sign up and give them a higher credit limit (it’s a VISA logoed card so it can be used anywhere). Fortunately D also uses that sparingly and pays off everything immediately.</p>
<p>We’d been advised not to use a debit, even one with a VISA logo for online purchases. Amazon Marketplace is a great place to get cheap textbooks, but one needs a credit card. I don’t want to add d1 as a user on my account. My credit limits are too high, and while I don’t expect trouble, inviting it seems foolish. We applied for her own card this morning through the local bank where she has her checking account. I’m a “co-applicant”. The limit will be $1000, more than enough to buy books. </p>
<p>If you bank locally, or as someone suggested belong to a credit union, try that route.</p>
<p>I’ve heard credit unions are a good choice also. Capital One was one of 3 or 4 credit cards named for travel abroad. They don’t have high or any extra fees like many do.</p>
<p>This was helpful:
<a href=“http://travel.usatoday.com/news/story/2011/03/US-travelers-fume-over-foreign-currency-conversion-fees/45149186/1[/url]”>http://travel.usatoday.com/news/story/2011/03/US-travelers-fume-over-foreign-currency-conversion-fees/45149186/1</a></p>
<p>shillyshally, USAA will not issue a credit card to students under age 21 without a co-signer or without it being secured. Perhaps if a student had significant income, they might, but their college student credit card terms have changed since the new laws took effect.</p>
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<p>A student don’t need an income to qualify for credit card but a good credit history. DD got her BofA credit card before going to college. She just opened a new account and they offered her the unsecured CC as part of the package as she qualified based on her Credit Score.</p>
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<p>Not true, DD got her unsecured CC from BofA at 18.</p>
<p>My son got a Discover card last year at age 18. No cosigner involved. There was a minimum income requirement (4k I think) but they didn’t require independent verification. The credit limit is low, but it allows him to independently buy on Amazon, etc and start to build credit. He has received several other solicitations for Visa cards since then. All had a minimum income requirement, but not a co-signer requirement even though he is under 21.</p>
<p>Here is the best source of information on student credit cards [Student</a> Credit Cards - Credit Cards For Students - Credit Cards For College Students](<a href=“http://creditcards.bankrate.com/student.php]Student”>http://creditcards.bankrate.com/student.php)</p>
<p>As long as you are responsible with it, the younger you start your credit are the better it works out for you. Credit history looks at how long your accounts have been active… so if someone gets a card at 18 instead of at 21, they will have 3 more years of credit history which can immensely help them out when they are fresh out of college and need credit for things. (Or, it could hurt them if they have 3 years of BAD credit!) I got a car loan at age 20 or 21 with no cosigner and the place was amazed by my credit score for my age. Sister did the same thing at age 20 and they were amazed by her credit score too.</p>
<p>I know times have changed and places are more careful with giving them out to younger people… but 18 isn’t too young at all.</p>
<p>That being said, I got my first Capital One card when I was 16. (yes, 16). I got it because I hated going in to pre-pay my gas all the time in my car and debit cards weren’t very prevalent back then! My mom co-signed it for me. It came with a credit limit of $500. I think at that time I was making about 4k per year in salary. When I turned 18, they sent me a letter telling me that my moms name was being removed from the account since I was of age and that they were increasing my limit to $1500. I was probably making about the same salary as when I was younger. That card earned points which you could trade in for gift cards and things like that.</p>
<p>When I graduated college I decided to get a cash back card instead of a point card. I went with Capital one at age 22 and I get like 1 or 2 percent back on all of my purchases. They gave me a 10k limit on that card. I’ve never had any issues with either of my cards and they have always been great. I pay them off in full each month and have never carried a balance. Used their warranty extension program to fix my washing machine and it saved me $240. I put everything on that card - cell phone bill, cable & internet, etc. I figure I have to pay them anyway so I might as well earn cash back on them also.</p>
<p>My sister got a different credit card at 16 with some other company and they were awful. They had fees for paying your bill online, fees for paying it by phone, etc. She could only mail in her payment and she didn’t want to do that. She canceled that card and got a credit card through her credit union and she loves that. All she has to do is transfer money from her bank account over to the credit card and it’s paid off.</p>
<p>That Capital One Journey card is pretty nice actually. It gives 1% cash back on all purchases plus a 25% bonus on the cash back you earn each month when you pay your bill on time.</p>
<p>I forgot to mention, they are rather finicky with your cards and fraud. I know someone else mentioned it above about when they are traveling. If you plan on making a big trip I suggest giving them a call to let them know. I’ve never had them call me about a trip but all of my trips have been up and down the east coast… not me randomly showing up in another country. They have certain things that raise a red flag they they follow up on… so I’d suggest listing a cell phone as your primary contact #. I’d much rather them be too cautious then not too cautious. When I was in college I ordered three guitars on my card to be delivered to my college address. Capital one called me to make sure that it was a legitimate charge since it was a rather high amount and to be delivered to an address not listed on the card. (My home address). I was super glad they called as opposed to somebody stealing my card, ordering three guitars, having them shipped to their house and me not knowing at all about it till the bill came. Also I lost my card somewhere (I think maybe some place forgot to give it back to me) and Capital One canceled it out and overnighted me a new one to my college address.</p>
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<p>Bank of America NO LONGER offers an unsecured credit card as part of the college student “package”. POIH…that is OLD OBSOLETE news. It was the case when your daughter (and my two kiddos) got their student accounts with B of A but it is no longer true.</p>
<p>^^what thumper1 said</p>
<p>As far as college student credit cards are concerned, the rules have changed so much over the past year or two that personal experiences of more than 1-2 years ago may not be predictive of current circumstances.</p>
<p>thumper1: DD got it in August 2009, I’ve not heard of any rule changes at BofA since then as market have only improved from that point.</p>
<p>Thanks for the link @jym626 – that looks very helpful. I will encourage S to apply for a card when he turns 18.</p>
<p>POIH, DD applied thru BofA two months ago and also has both saving/checking with BofA. The rule has changed a year ago. Student under 21 has to state income or have a co-signer.</p>
<p>@ParentOfIvyHope - the rules changed after then - February 2010, if I remember correctly.</p>
<p>[New</a> Credit Card Rules - The Credit Cardholder’s Bill of Rights Act](<a href=“http://credit.about.com/od/consumercreditlaws/a/creditbillright_2.htm]New”>Know Your Rights Under the Credit Card Act) You are correct, uroogla. The changes took effect Feb 22, 2010 (as noted at the end of this article). The credit card reform act was well publicized in the media. It addressed the “suprise” outrageous increases in interest rates as well as credit cards for minors
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<p>mathmomvt- you are welcome. The bankrate.com is IMO the best site for info on this topic and provides comparative deeals for all the credit cards.</p>
<p>Forgot to add, there may possibly have been some additional tweaks to this law, for, as noted in the bankrate link I posted in #29, many of these cards do not currently require a cosigner. However, without a cosigner a student must show a means to repay the debt (savings, income, etc). No more tables set up at college campuses handing out credit card applications and t shirts.</p>