<p>Get the one that your bank works with, and get it from the bank. Don't be tempted by rewards programs with fees, there is no way a college student can earn much if they are spending responsibly. If you get the card through your bank, they will link it to your checking account as overdraft protection so that if you overdraft your account, you will only have to pay a small transfer fee per day, versus a large overdraft fee per overdraft. You may have to ask the banker to do this for you, because a lot of them are idiots and won't reccomend it.</p>
<p>Another note-always use it at least once per billing cycle so that you have a balance to pay off. If you pay it off ON TIME, it helps build a good credit rating. A missed payment takes 4-6 on time payments to make up, so it's not worth it. I try to pay off the entire balance in full, because the lowest interest rate possible for a card is pretty much around 10% APR (and I only get it cuz I work at the bank I got it from), and that's still alot of interest. It is probably closer to 18-21% APR. You don't want a $3 cup of coffee to end up costing you $5, unless you are really running low on cash, in which case you should revise your spending habits.</p>
<p>The balance is any unpaid amount. If you pay off the entire balance on the statement, you pay 0 interest, even if there is still a balance on the card (basically whatever you spent after the billing cycle ended and your statement went to print)</p>
<p>I doubt that there is no minimum payment, it sort of defeats the purpose, so i would check and make sure. The amount you should pay off depends on the credit limit and the outstanding balance. Remember, you are essentially paying them your hard earned money for allowing you to purchase things in advance, and the more you leave on the card, the more money goes to interest (which basically money down the tubes) If you have a high balance, try to pay off more than the interest payment (it should be itemized on the statement) so as to whittle down the debt AND DONT USE THE CARD (Cut it up if u have to). That way the interest will be less and less each cycle, and the debt will eventually become manageable. If you have a low balance, pay off as much as you can or all of it.</p>
<p>Also another note about cards through the bank-
If you have a card through the bank, you will be able to pay it off over the phone or even better on the internet easily and usually free of charge. I dont even open my statements, I just go online on the 15th of every month and transfer the money from my checking acct to the card, it takes less than a minute. It is VERY convenient and it helps to not miss your payments. Another reason why cards from banks are better than ones form Target or airlines.</p>
<p>packrbackr isn't quite right on that last point - I would like to note that you can pay from your bank account via phone or online even if your credit card is not issued by the bank you have your checking account with. I have two credit cards (an AMEX and a MasterCard from Citibank), and I pay both of them online from my checking account with Washington Mutual. Same with the "ones from Target or airlines" - those cards are not issued by Target, but by a bank that Target licenses its logo out to. You pay them off like any other card. (Unless it is a store-only line of credit)</p>
<p>Well, believe it or not, my card does not have a minimum payment. Believe me, I was shocked as well, but it's plain it just doesn't exist; I have several hundred dollars on the card, so it's not like it's a small balance or anything.</p>
<p>It probably helps if I mention my bank is USAA. They do tend to do things differently.</p>
<p>Guess I'll just continue to make the most payments I can (right now at around $50 a month or so -- it'll all be gone in January with my holiday paycheck, thankfully -- textbooks are expensive :().</p>
<p>If at all possible, you should be paying off the credit card bill every month, otherwise you end up paying more and more money because of interest.</p>
<p>Well if you intend to pay a card off by phone that is not from a bank, be 100% sure that there is no fee. One of my friends (who is not very smart) maxed out a $1000 card only to find out that he had to pay a $10 fee to pay over the phone, every payment. Also, he told me he didn't get written statements, I don't know if that could possibly be true, and I have no idea where the card was from, but be careful.</p>
<p>well thats a ripoff - well then don't pay by phone :) use the net
lets put it this way - any reputable card should let you pay from your own checking account with no fee (at least online, if not over the phone as well)</p>