Which Credit Card Should I Get? Student, Savings, but not Active Job | FerrariChat
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Which Credit Card Should I Get? Student, Savings, but not Active Job

Discussion in 'Other Off Topic Forum' started by M3-ADDICT, Dec 26, 2006.

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  1. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    #1 M3-ADDICT, Dec 26, 2006
    I'm currently a student and want to start building my Credit. I've been doing it ever since I was 15 as I believe to be so. I've been under my parents Credit Card and they reassured my parents that my credit would be built too. I bought a brand new 2006 Nissan 350Z Last year but financed it under my dad to get better rates. Yet I got a sick deal % wise and price wise, my dad is getting all the credit while I pay him the monthlies. Also some simple bills like DirecTV and such.

    I currently don't have a job, but have a bank account with semi 2 digit savings. 2 Large CDs as well. Can I apply for a Credit Card without a Credit Report check and which ones would you recommend. Although Ill be paying the monthlies in full, the APR doesn't really matter. But I don't want a 50% APRed card either. Any suggestion and feed backs would be nice.

    I've contacted afew CCs but they all want to pull my Credit Report and I don't want to add negative points on my Credit that I've raped my self building. Not to mention Ill be pissed if I don't qualify either.
     
  2. BWS550

    BWS550 Wants to be a mod

    Apr 1, 2002
    8,933
    NEW JERSEY
    Full Name:
    BRUCE WELLINGTON
    #2 BWS550, Dec 26, 2006



    TO START BUILDING YOUR CREDIT, DO WHAT I DID 30 YRS AGO.

    MY DAD BROUGHT ME TO HIS BANK, AND MADE ME TAKE OUT A 1000.00 LOAN, FOR 2 YRS WITH MONTHLY PAYMENTS OF 45.00 PLUS A MONTH

    AFTER YOU SUFFICED THE LOAN, BINGO, YOU NOW HAVE CREDIT.....

    GREAT IDEA...IT WORKED FOR ME..


    ALSO, I HAVE AN AMEX CARD, AND A VISA CARD HOOKED UP TO MY CHECKING ACCOUNT

    I WILL NEVER HAVE A BALANCE OR BE IN DEBT FROM MY VISA CARD AS MY CHECKING ACCCOUNT WILL BE THE SOLE DETERMINER.


    GOOD LUCK

    BRUCE
     
  3. jordanair45

    jordanair45 Formula Junior

    Feb 6, 2006
    929
    #3 jordanair45, Dec 26, 2006
    Credit cards are cool and all, but nothing builds credit like a loan.

    Unfortunatley, it may be a little too difficult in this day and age, and with your insufficient credit history. It's not the Roaring 20's anymore, we're in a consumer debt era. If you are in school, then open a student checking/savings account and soon enough, they will offer you a secured credit card. That's how I started.

    You could always apply for a Cap One card, Cap One never turns anyone down. The more debt, the highier approval rate for Cap One, lol.

    As soon as possible, move up to Amex. Its a little wiser to use a Amex card because you have to pay it off monthly, so it *will* help you use your credit line within your means.

    Also, I opened a gym membership. It shows up on my credit report as a loan of $1,400, so if a loan is hard to get, go open up a membership at a club; it's just as good.
     
  4. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    #4 M3-ADDICT, Dec 26, 2006
    That's an Interesting clever solution. I'll go look into it. I'll apply for a 3K loan from the local bank. Buy my self a nice Breitling-Rolex watch. Pay it off in a year and sell the watch for some profit as well. Only if this work, Ill have to ask my bank about it.
     
  5. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    #5 M3-ADDICT, Dec 26, 2006
    Interesting! Looks like Loans are the way to go.
     
  6. Samimi

    Samimi Formula 3

    Oct 17, 2005
    1,699
    North of the 49th
    Full Name:
    S.
    #6 Samimi, Dec 27, 2006
    The loan idea sounds good Bruce, but aren't you going to have to pay interest on the loan
     

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