<p>I just turned 18 and want a credit card to build credit. What card has the best offers or rewards? or should I go with my bank and get the normal Bank of America credit card?</p>
<p>The Bank of Mom & Dad</p>
<p>Amex has just about the best bonuses and rewards... but I too would reccomend goin with Bank of America</p>
<p>I like Chase, they have a students rewards card. And it's a Mastercard so it is accepted everywhere, unlike Discover or American Express.</p>
<p>While I feel like Amex caries a certain cachet, if you want to be able to use the card anywhere in the world, then an MC or Visa is best. Plus, if your card is tied to your bank, it's usually exceedingly easy to pay your bill online.</p>
<p>The best credit card is one whose conditions and terms you have read completely and thoroughly and feel you can live with. All credit cards, even within type (i.e., Mastercard or Visa) are <em>not</em> created equal.</p>
<p>I got a ctibank card and i here it is really good with bonuses and stuff. there are three different types of cards to chose from for different bonuses and you can chose if you want mastercard or visa.</p>
<p>Get a Visa and an AmEx.
My mom insisted I get two cards, hell I'm working on my application for my third, to (in her words) "build up really really good credit".</p>
<p>AmEx gives you rewards, but everyone takes a Visa.</p>
<p>READ THE FINE PRINT! MC/VISA are the most widely accepted. But most important are not the bonuses, but INTEREST RATE AND LATE FEES. Set up an online bank account and set a monthly automatic payment so you are NEVER late paying. You can always pay more, but to be late is to get a $20-$50 late fee AND bad credit or higher interest rates. Try, try, try to pay off your card monthly, but avoid getting more than 3 months beyond what you can reasonably expect to pay off. Otherwise you will get a very bad habit of living beyond your means. The balances do not magically evaporate, they just keep increasing. It is the catastrophe of graduates when they find they have a $10,000 credit card balance to pay off. And the Banks of Mom & Dad are rarely amused...</p>
<p>i have had a chase debit card for about three years now so i have built up some credit. ill get a credit card when i need one.</p>
<p>I'm getting a Visa credit card through my bank BB&T. But I'll also have a debit card and a card that is on my parent's account for emergencies.</p>
<p>tracemhunter- Sorry to break it to you, but debit cards are a non-credit earning card. Based on the fact that its taking out of your bank account asap. Don't sit there and argue with me, I know what im talking about. Google it.</p>
<p>If anyone in your family has been in the military, look into a USAA account. I have a USAA Visa card. Not only is a good credit card, but it'll give you a USAA account so you can get cheap insurance later on even if you don't join the military; you have to start the account before you are no longer a dependant, like 21 or something.</p>
<p>polkadot_heart: I think it's a really <em>bad</em> idea to have 3 credit cards in your name like that, even as an adult. It's too tempting and not necessary.</p>
<p>weski: you hit the nail on the head.</p>
<p>I agree with bing that USAA has a great card & services if you are eligible. Regarding 3 cards - an ATM/debit should be your everyday card - note your school may have a card to pay for things on campus as well. You should have a MC/Visa card that is not a debit card for emergencies (auto/hotel, etc.). If your parents are nice, they may add you to their American Express account for travel expenses. More than that, you will get in over your heads - it is the most common mistake/problem for students and young adults. You will not be immune from the temptation. Read any personal finance column and this is the drumbeat - don't get into credit card debt!!!</p>
<p>"Regarding 3 cards - an ATM/debit should be your everyday card "</p>
<p>It is generally considered a very bad idea to use a debit card for anything other than ATM withdrawls (for the reasons discussed here <a href="http://talk.collegeconfidential.com/showthread.php?t=169182&highlight=credit%5B/url%5D">http://talk.collegeconfidential.com/showthread.php?t=169182&highlight=credit</a> ). Using a debit card for purchases can make you more prone to fraud, which can have serious consequences for debit card users that credit card users don't have to deal with (such as important checks bouncing). I highly recommend using credit cards for all purchases and then paying it off at the end of the month.</p>
<p>You should also note which cards are CREDIT CARDS and which are CHARGE CARDS. American Express I believe are charge cards. This means you must pay off the card each month in full. No matter what card you get you should always be paying it off in full but with Amex there is no leway. Amex will usually charge you an annual fee too (specially if it is a rewards card). Watch out for Capital One they do aggressive marketing to students. The problem with them is they do not report your credit limit to the credit bureau.This means anytime you use the card it appears that you are utilizing 100% of the credit allowed. For a good credit score you should only be using 30% or below.</p>
<p>"You should also note which cards are CREDIT CARDS and which are CHARGE CARDS. American Express I believe are charge cards."</p>
<p>Most AmEx cards I've seen were credit cards. While I'm sure that AmEx does have charge cards, their most popular products (like it's Blue credit card) are true credit cards.</p>
<p>"Watch out for Capital One they do aggressive marketing to students. The problem with them is they do not report your credit limit to the credit bureau.This means anytime you use the card it appears that you are utilizing 100% of the credit allowed. For a good credit score you should only be using 30% or below."</p>
<p>This is a good point--if CapOne is your only card and you don't use it often, it can really drag down your credit score (since it looks like your utilization is abnormally high). Since the credit reporting agency doesn't have a credit limit number, they use your historical highest balance. If you've used your card to make a large purchase, it won't make much of a difference; however, that's usually not the case.</p>
<p>Most of CapOne's student cards seem to come with annual fees now and they rarely (if ever) grant credit limit increases, so students should avoid them at all costs. Capital One wasn't such a bad company years ago, but they changed their strategy and have become one of the worst (for customers, at least--their shareholders have been happy).</p>
<p>"Most AmEx cards I've seen were credit cards. While I'm sure that AmEx does have charge cards, their most popular products (like it's Blue credit card) are true credit cards."</p>
<p>The Amex cards I have gotten offered are charge cards. I am positive you are right though about them having regular cards too. I mainly wanted to stress the point of knowing what kind of card you have. :)</p>
<p>okay, so a perfect credit score is 800, right? what credit score does someone (a student) who just turned 18 have? do they not start out at 800? if not, why not? </p>
<p>and if you DO start out at 800, what is the point of getting a credit card to raise your credit if you already have <em>a perfect score</em>?</p>