Good First Credit Card?

What's a good first credit card to get? I'm 19 right now was denied a house loan because I have no credit history. I've gotten a ton of offers in the mail but never wanted to get a credit card, and as soon as I have a house loan it will probably not be used. I suppose I do want to get one though so I can attain a credit history, and a good one at that. I liked the Chase Platinum MasterCard but I have to fill in what college or uni I attend in the application and I'm not in college. I plan to attend WyoTech but not for a few years.

I got a student Mastercard through Key Bank. $500 limit so you can't fuck yourself in the ass too bad and the interest rate is normal. You're not gonna be able to do much better than a $500 on your first card, so if there's a Key Bank near by, I'd suggest going with that.

Go to the bank you have an account at. If not I'd recommend Bank of America. They're an excellent bank and if you have any discrepencies or you become the unfortunate victim of fraud they do a great job of fixing everything. It happened to my mom and they were great.

That's where I got my first card from when I was 15. It was set at a limit of $500, I would get no more than $1000. That's a good starting point. I've always paid mine off every month, but it's not the best thing to do for your credit. I was get in the habbit of paying it off first, then every once in a while not paying it off completely, and then pay the next month or following month off.

Just be careful with it and watch what you spend. Look at interest rates as well.

Get your life going on the right track. :thumbsup:

Edit: Looks like 93 and I have a similar trend.

Check with your local bank or credit union, especially if you are a member. Credit unions operate a little differently than banks and tend to be a little more lenient in their requirements. Above all don't start off with a high credit limit like previously posted. Let your good credit handling and on time payment history be a guide to future limit increases. Watch out for the rates, especially the "regular" APR, the default rate, and any associated costs involved with the card such as convenience check charges, over the limit fees, late payment fees. A lot of these fees differ from card to card so it pays to shop around. One trend that the credit card industry is using now is using the excuse of being late in paying one of your other cards or other bills to raise your APR to their default rate which is usually significantly higher. This can look bad on your credit report and hurt you in finding employment, insurance, or housing. I've also noticed some of my card issuers are quietly raising a lot of their rates for other charges like the ones I listed above. This is how many credit issuers make the real money. Some states have websites with banking info as to the issuer of the card and their current rates and fees. This is a good comparison tool. But try your local lending institutions first as they tend to have lower rates and fees, especially if you're a customer.

Edit: One credit issuer you could also try is Citibank. They are the biggest card issuer. They also have bought out other card issuers such as gas companies. My wife and I have about 5 cards issued through Citibank, and they too also have a great fraud detection dept. Last year I received a call about my AT&T card (issued through Citi). I hadn't used the card in 3 years and they were alerted to some suspicious activity. I confirmed I hadn't used the card recently, and they immediately closed the account, sent me a new card and notified the 3 credit reporting agencies to put a "fraud alert" on my file.

the first card i got when i was 18 was a capital one card that started with a $100 limit and in 6 months i got the limit increased to $1000. pay it on time and then it dosent matter who you go through. try to find a cash back or some sort of rewards since everyone offers that now.

That's where I got my first card from when I was 15. It was set at a limit of $500, I would get no more than $1000. That's a good starting point. I've always paid mine off every month, but it's not the best thing to do for your credit. I was get in the habbit of paying it off first, then every once in a while not paying it off completely, and then pay the next month or following month off.


I took a banking class in my last semester of school. We had a section on personal credit. You don't have to carry balances over to the next month as long as there is activity in the account. The credit card companies are the only ones who won't like what you are doing even though they are still making money off your purchases through the fees they charge the vendors.

The best number of credit cards to have for your credit score is two. You will initially hurt your score because have new debt accounts is a negative. Once you have had them for a year or two, they will really start to help. An auto loan is another way to prep your credit for home purchase, if you really need an excuse to buy another car.

1) Look for no annual fee

2) Keep the limit low, and pay it off every month. (I knew a guy that used it only for gas, and sent them a check each payday to cover the gas receipts. Built up his credit/good payment history quickly)

3) If you follow the above, the interest rate doesn't matter. Just don't get into the habit of thinking it's free money - it's not.

.... An auto loan is another way to prep your credit for home purchase, if you really need an excuse to buy another car.

Good point...if you own your car outright, you can always see if the bank will extend you a loan on it, it's secured so they're likely to do so. Good alternative to getting a credit card; just don't blow the money you get lent and it will be easy to pay it off.

Get it from your bank, I have wachovia bank, they set me up with a capital one $300 limit its over a $1000 now and I barely use it as I have other cards. 0% apr for 6 months, no yearly fee, just a few of the things I usually look for.

i have a capital one credit card. it's the only credit card i have. i started with a $300 limit. I'm up to like 2 grand now. It's really low interest. basically follow all advice given already and you will profit from it.

don't be stupid though and be like some of my friends. they open a new credit card to pay off an old one.

All good stuff ^.

Just to add, alot of cards have offers now of 12 months or so of 0% interest. That is a nice incentive, but also take note of how much it rises after that initial year. For your first card, I would think 10% APR would be good. Also try and get a fixed percentage, variable can raise.

And again, definantly pay it off, and don't spend it like it's free money. You get better credit when you have more available credit...not used credit. IE, your score is better if you have a $2,000 limit and only have a $15 balance, then if you have a $6,000 limit and a $5,500 balance.

i had a capitol one, started at like 300, went to three grand. maxed it out and apr went up to 20%!!!!! dont do like i did, make sure u have the money before u charge a bill that never goes away! luckily my gmother helped me out with the promise i never get one again! i use my debit card with visa logo now....

As others have said, your best bet would be to go through your bank or credit union. They usually have the best offers and higher limits. If that isn't an option then you should choose a card that you know will accept you, and only apply for that card. When you apply for a card they pull your credit history (or lack of), this shows up as an inquiry on your credit report. Numerous inquiries have a negative effect, because it looks like you're desperate.

Cards like Capitalone are usually a sure bet, however the downside is that they are slow to grow, and don't report the credit limit, so credit agencies have to use the highest balance in the credit limit field. This costs you a few points, because it makes it appear as though the credit limit is lower than it actually is. Generally, having high credit limits is a good thing (if you don't get stupid and overspend) because it shows that other companies trust you.

After you have used your first card for six months, apply for another card with a company that's a little better. Use these two cards to build your credit, you can add another one later on if you want. It's very doubtful that you will get a home loan until you have at least 3 years of history. 3 years is still considered short, but companies will be more likely to take a risk on you, granted that you have been responsible with your cards.

Whether you pay your cards off every month or not, doesn't have a direct effect on your credit. It does however have an indirect effect on your credit. Credit card companies keep an internal score of their cardholders. This score is kept in house and isn't based on your credit report or FICO score. This score is used to determine how much you're worth to them. Making a purchase and then taking a few months to pay it off, gives them a profit on the interest, and makes the score go up. Late payments, minimum payments, and high balances makes the score go down. Card members with higher scores can get the best rates and high credit limits. This helps your overall credit score. Especially if you have a balance on a card because the increased credit limit lowers you over all dept to credit ratio. I have a good history with my cards, and have called them ahead of time when thinking of purchasing vehicles and got 0% interest until it's paid off.


Car loans are a good way to build credit as well. And generally not that hard to get as long as you have a decent employment history at the same job or field. Again, you'll want to go through your own bank, becuase you're more likely to get better rates.

I'm glad this was asked, as I am also 19 and looking into getting a credit card instead of always using my debit card. And thanks Blazee for that in-depth response. I'm sure everyone that reads that post is going to have a better idea of just how credit scores work.

I took a banking class in my last semester of school. We had a section on personal credit. You don't have to carry balances over to the next month as long as there is activity in the account. The credit card companies are the only ones who won't like what you are doing even though they are still making money off your purchases through the fees they charge the vendors.

The best number of credit cards to have for your credit score is two. You will initially hurt your score because have new debt accounts is a negative. Once you have had them for a year or two, they will really start to help. An auto loan is another way to prep your credit for home purchase, if you really need an excuse to buy another car.
That's great info man. I took a credit class at work a few months ago, and they sort of said the opposite.

I will be finding out my credit score pretty soon since I'm buying a car in about a week.

I volunteer at a local center that helps low income families, and one of the things I do is "credit counseling", trying to help them establish a good credit history, or find ways to improve theirs. I have a few more pointers to add to this growing list o good advice in this thread so far.
First, it was mentioned earlier in this thread about getting a card with rewards or cash back. If you do make sure the issuer isn't charging an annual fee as well since a lot of your savings will be lost. There are plenty of no fee cards out there that offer perks. Read the disclosure box on the back of the application or offer which the issuer is supposed to outline all of their fees.
Second, (this tip is good for anybody who had a card and has a good relationship with the card issuer i.e. good payment history) You can call the issuer and ask them (nicely) to lower the rate you are being charged. Tell them you are getting offers from other cards with lower rates and you are tempted to go with them. If you have been with this card for awhile, most issuers will lower your APR providing your not in default due to late payment or over the limit.
Third. In basing your credit score, lenders also look at the type of credit you have. Your score is based on a mix of different types of credit, so it helps to have other lines of credit open. This includes installment loans,and mortgages. Try to stay away from loans from finance companies. Car loans are a good example of installment loans as are personal loans.
On the subject of those teaser rates you see advertised to get you to sign up, those rates are good for people who have a good credit history. If yours is so-so you might be offered a higher rate. Also, if you miss a payment or default on another card, they may revoke the special rate before it's expiration. If you are in default with your credit card, check their "terms and conditions" ( all that fine print no one bothers to read when they get their card, or is sent whenever there is a change of terms,) to see how long they will penalize you. Some penalize you with a higher rate for a year, some base it on billing cycles and if you make on time payments and don't go over limit during that time, they will lower your rate back down after the time has elapsed. Follow through and make sure they lower your rate after the time has passed. Some may not do it in hopes you won't pay attention. Also pay attention to the stuff they send you in the mail. In the past, card issuers have been notorious for "slipping" in notices of rate or fee increases, or changes in terms in mailings disguised as something else, or burying the info somewheres on your statement. You don't want to be caught off guard with a change you weren't aware of because you didn't read the notice. Some of these changes include, a shorter grace period ( the time you charge something and can pay it off without paying interest.) Years ago, the grace period was around 30 days, now some cards only have 25 days or less. Other changes include higher fees for late payments, over limits, bounced checks, finance fees on convenience checks, and how they calculate finance charges, or apply your payment to your balance.
And last, don't cancel your current card(unless you really must do so,) when you get new credit. This lowers your total credit limit and can have a negative effect on your score. Your score is partly based on total credit limit versus what you have outstanding balance wise on your cards/loans.

That's great info man. I took a credit class at work a few months ago, and they sort of said the opposite.

I will be finding out my credit score pretty soon since I'm buying a car in about a week.

I might be wrong, I did go to school at the University of Wyoming :shakehead

Cards like Capitalone are usually a sure bet, however the downside is that they are slow to grow, and don't report the credit limit, so credit agencies have to use the highest balance in the credit limit field. This costs you a few points, because it makes it appear as though the credit limit is lower than it actually is.

Thats an interesting point Chris. I recently received my free annual credit reports from the Big 3 credit bureaus, Experian, Equifax/CSC and Trans Union and I'll be damned no credit limit reported on my Capital One card. Any reason why C1 does that? Anyone ever make an inquiry about it?

I agree that Capital One is a good starting credit card. My son got one starting out with a $200 LOC (line of credit) and now it is up to $2500 after 2 1/2 years of excellent payment history and overall good credit history. In contrast his Chase Student Mastercard sucks. He missed one payment by only 5 days due to an on-line payment error and Chase jacked the APR up to 28%. The Chase started out at $500 LOC and has only been increased to $600 after 2 years.

Bad experience here with chase.

Had a $300 credit limit. Made a $329 purchase, didn't realize the tax put it over $300 so it was my fault. Called the 800 number and they said no problem we'll take that charge off ($39 overage fee). Never did. Called back, talked to 3 more people including a supervisor. Was told to pay the fee, and the $29 it was over. Paid that finally they refunded me the $39. Took about a week of calls everyday.

idk, im with capital one. i have a limit of $500 and a APR of 9.46% or something like that. It was 0% for like the first 6 months. apparently this is impossible due to my age. guess i got lucky

Thats an interesting point Chris. I recently received my free annual credit reports from the Big 3 credit bureaus, Experian, Equifax/CSC and Trans Union and I'll be damned no credit limit reported on my Capital One card. Any reason why C1 does that? Anyone ever make an inquiry about it?

Some credit card companies actually report monthly ( ex.Citibank) while others report quarterly, semi-annually, and others I've noticed only report annually. I don't know the reason behind this only that maybe they don't allocate the resources for someone or a department to keep updating their files, or that's not a priority with them. Maybe calling their customer service and asking them why might get you some answers. Perhaps you might ask them to update your file more frequently. One good thing to consider when you get your free annual credit reports is to stagger your requests over the year. Get one report, say Experians' first, then wait 3 months and request Equifaxes', then in another 3 months Trans Unions' report. Then start the process all over again in 3 months. This way you get a clearer view on how your credit is progressing and if you need to check it later in the year, you're not stuck having to pay for another report because you've used up your yearly allotment, (unless you've been denied credit then you're entitled to a free report.)
Bad experience here with chase.

Had a $300 credit limit. Made a $329 purchase, didn't realize the tax put it over $300 so it was my fault. Called the 800 number and they said no problem we'll take that charge off ($39 overage fee). Never did. Called back, talked to 3 more people including a supervisor. Was told to pay the fee, and the $29 it was over. Paid that finally they refunded me the $39. Took about a week of calls everyday.
A piece of advice I give the people I counsel is to document every call you make to the credit card company,( or any company you contact with a problem, especially if you have to follow up.) Write down the date and time of call, and the person(s) you spoke to. Also keep some brief notes on what was said and what they are supposed to do, and if any follow up is necessary. I've learned from my mistakes over the years and now document all my calls and have not had a problem since getting what I want done and having to follow up with any problems. Most customer service agents and their managers probably don't think the customers are savvy enough to document their calls, so they can make promises and not follow through in keeping them. One time I called to follow up on a promise by a company and they told me they don't remember promising me that. When I started to rattle off details about the call, whom I spoke with and what was said, their notes concerning that call magically appeared and the problem was taken care of.

Some credit card companies actually report monthly ( ex.Citibank) while others report quarterly, semi-annually, and others I've noticed only report annually. I don't know the reason behind this only that maybe they don't allocate the resources for someone or a department to keep updating their files, or that's not a priority with them. Maybe calling their customer service and asking them why might get you some answers. Perhaps you might ask them to update your file more frequently. One good thing to consider when you get your free annual credit reports is to stagger your requests over the year. Get one report, say Experians' first, then wait 3 months and request Equifaxes', then in another 3 months Trans Unions' report. Then start the process all over again in 3 months. This way you get a clearer view on how your credit is progressing and if you need to check it later in the year, you're not stuck having to pay for another report because you've used up your yearly allotment, (unless you've been denied credit then you're entitled to a free report.)

Sounds like a good idea in principle but I'd rather shotgun all 3 reports at the same time via www.annualcreditreport.com. The interface has all 3 major credit bureaus. Another reason is I found none of the 3 credit reports mirror each other. For example some creditors only report to Experian and not Equifax or Trans Union and vice versa. Therefore credit data will be missing to run a staggered review over the year. Of the major credit cards (VISA/MC) I have to include gasoline all report monthly from what I can see. Even my credit union reports monthly.

As Blazee pointed out Capital One seems to be the only major credit card company not reporting the credit limit as a matter of their policy which technically bites but it is really no big deal. :dunno:

A piece of advice I give the people I counsel is to document every call you make to the credit card company,( or any company you contact with a problem, especially if you have to follow up.) Write down the date and time of call, and the person(s) you spoke to. Also keep some brief notes on what was said and what they are supposed to do, and if any follow up is necessary.

My father told me this a few years ago and I make it a practice whenever I call. However even when I gave them the names of the people I previously spoke to nothing was accomplished because they each would give me one piece of the puzzle.

One instructed me to pay the $29. I'd do that and call back another would tell me to pay the $39 overage fee. Than i'd do that and finally another guy would be able to remove the charges.

So even giving them the names of who I spoke to last time only got me so far as to complete another "task" on their list of meaningless crap I had to do to get my money back.

whatever you do, stay away from debit cards. They may seem like a good idea but I'm tired of overdraft charges, they charge me 30 bucks whenever my account drops below 0. This never happens once either. I'm sticking with credit

whatever you do, stay away from debit cards. They may seem like a good idea but I'm tired of overdraft charges, they charge me 30 bucks whenever my account drops below 0. This never happens once either. I'm sticking with credit
You're falling prey to one of the big new moneymakers banks and credit unions have started to offer their customers- what our local lending institutions call "Overdraft Privledge". This is where your bank or credit union will "cover" your bounced check or debit overdraft for a 'small fee' usually $25-$30 per occurence. This can add up fast. A good alternative to the Overdraft Privledge or Protection is a line of credit. Some banks call it an Overdraft Line of credit. Here, when you overdraw on your checking account, the line of credit kicks in and covers that check or debit transaction. Instead of paying an overdraft fee, the line of credit acts like a small loan in which you pay the bank back with a small interest charge. This is a good lower cost option. One other option that many banks offer their customers is to have their savings account "linked" to their checking account so if there should be an overdraft, the money in the savings account can "cover" the check or debit transaction without any fees involved,(for MOST banks- it's a good idea to check with yours.) At my credit union I have it set up this way: first if there should be an overdraft, the savings account is hit first, then the line of credit, then the Overdraft Privledge is the last resort. See if your bank can set up something similar then that way you shouldn't get hit with those fees whenever you overdraw your account.

I had Astoria before (no one heard of them? didn't think so) now I have HSBC, no overdrafts yet

Looking for the right bank/Credit Union is definitely worth it. My credit Union is awesome. The accounts are free and there are none of the "maintanence" fees that a lot of places charge. They actually pay me to have an account there, I get interest on my savings and checking accounts. They also have great rates on money market accounts and share certificates. I got a letter a few months ago stating that they would cover any overdraft up to $700 at no charge (I haven't asked them how it works though, they've always had the policy to transfer money from savings, so I'm not sure which they would do first).


Of the major credit cards (VISA/MC) I have to include gasoline all report monthly from what I can see. Even my credit union reports monthly.

Yeah, everyone that I've ever dealt with has reported monthly. I think that I've had every one at some point in time.

Aspire (I didn't even want this card. They called and offered, I told them I wasn't interested. He kept on asking. I refused to confirm any of their information. He kept on asking. I told him that he could send it if he wanted, but I wouldn't use it and hung up. I got the card about a week later.)
AT&T Univeral (Now CitiBank)
Bank of America
BankOne (Now owned by Chase)
Capital One
Chase
Citibank
Discover
First National Bank
MBNA (now owned by Bank Of America)
Providian (Now Washington Mutual. This is a good card to have, because their online access shows you your FICO credit score, updated monthly)
Washington Mutual


As Blazee pointed out Capital One seems to be the only major credit card company not reporting the credit limit as a matter of their policy which technically bites but it is really no big deal. :dunno:
I have no idea why they don't report it. If someone wants to call them, I'd like to hear their reasoning.

I got a letter a few months ago stating that they would cover any overdraft up to $700 at no charge (I haven't asked them how it works though, they've always had the policy to transfer money from savings, so I'm not sure which they would do first).

From my own experience, I would say give them a call and find out. When our credit union came out with the Overdraft Privledge, they changed their policy where your savings would get hit first to cover the overdraft, now the O.P. gets hit first, (probably because they can make money off the fee they charge to cover the overdraft.) At the customer's request, they can change it back to the savings, (or line of credit) to be the default account to go to first. But the customer has to request it. Make sure you double check and read any fine print on the notice about the O.P. I got a similar letter when they introduced it and it made it seem like they would cover the overdraft as a "favor or courtesy" . But upon reading the fine print in the letter it later stated there would be a $25 "service charge" to do so.

When you review your credit report(s), pay close attention to the section where they list who or what companies have checked your report. I was amazed at the sheer number of requests made . Some were from the card companies I already do business with ( account review, to make sure you are paying your bills on time with other creditors, and to also consider credit line increases.) Insurance companies and other credit card companies you don't have an account with, ( those are for solicitations and all that junk mail you get.) It's funny that Capital One keeps getting mentioned in this thread as they are constantly checking my file and I get at least 3 pieces of mail from them , all solicitations,in my mail each week. That section also lists employers and landlords who may have requested to view your file for purposes of offering employment or housing.

I started with a Capital One student credit card. They were offering student accounts at my college. Later, another offer for Discovercard came up, so I signed up as well. American Express would be a more difficult company to get a credit card from as they are very strict on the credit of people they lend to.

I use my Citibank most often because of the 5% cash back on grocery purchases and I use my Discover card to get 5% cash back on gas purchases. Try to get cards with rebates, no annual fee. Since I pay my debt in full each month, I am not affected by the APR. I mainly use it for the convenience, which means, I'm not trying to spend money I don't have. I had an account with Providian, recently bought by Washington Mutual that provides your credit score monthly all for free.

Make sure you have enough money in your bank account to pay off the credit card bill before you charge. I know many people who spend money they don't have an end up in more debt, thinking the creditcard will help them out of it.

I would suggest that you pay off the debts IN FULL each month, not just the minimum. When you initially apply for credit cards, their credit checks will "ding" your credit score, but it will slowly rise as you pay the debt off in full each month. You even build credit by having the card and not using it--simply holding an account with them. I find that using less than 10% of your credit limit makes them happy and if you start using more than 30% of it, they get antsy. When they see you using it very frequently and that the bill is paid full each month, they will raise your credit limit.

In all, building credit takes time and you simply have to prove to them that you are a responsible borrower and never fail to pay back what you owe them each month.

My dad told me to just pay the minimum once or twice and let a balance roll over so they make a little money on interest, and then pay it off the next month. Apparently this raises your credit rating quite a bit, for whatever reason. Usually he knows what he is talking about, so I will try it and see if it does infact work.

My dad told me to just pay the minimum once or twice and let a balance roll over so they make a little money on interest, and then pay it off the next month. Apparently this raises your credit rating quite a bit, for whatever reason. Usually he knows what he is talking about, so I will try it and see if it does infact work.

There is no reason that being assessed finance charges would increase your credit score. A few important points no one has covered yet:

You can be turned down for a loan(usually a mortgage) because you have TOO MUCH available credit. Say you make $70,000 a year. A lender would be worried about giving you a $200,000 mortgage if they see it's possible for you to go out tomorrow and ring up $50,000 worth of credit card (or credit line) debt.

Having credit cards, lines of credit or loans which have balances close to their maximum amount has a negative affect on your borrowing power. Especially if those balances have remained close to the limit for some amount of time. This demonstrates an inability (or lack of desire) to pay off your obligations.

Finally, and most importantly, if you have cash, you don't need credit. Banks and credit unions are in the business of investing. They take money from savings accounts, checking accounts and downpayments (among other things) and use them for purchasing investments and loaning to other customers to produce income. If you have CASH, a bank wants to lend you money because A) They are making money off of the loan interest and B) they can immediately put your cash to work making themselves even more money. Also, you can often negotiate yourself a better than advertised rate on a car or home if you have a sizeable downpayment. No matter where you go, cash is always king.

I'm not saying you should have ZERO credit history, but the notion that your credit score determines your ability to have a normal life is a falsehood. Credit is just a word that means paying other people later so you can have something now. Credit always cost you money (A lot more than buying something outright), otherwise these companies wouldn't be interested in lending it to you.

The only thing you should ever actually HAVE to go in debt for is a house, because it isn't realistic for most people to have that much cash available to spend. Other than a house, consider simply doing without. It saves you so much money in the long run and you'd be surprised at how many things you "need" that can actually wait a few months (or years).

I don't want to seem arrogant, but I'm relatively knowledgeable about this sort of thing, so if anyone has a specific question feel free to PM me and I'll try to help. A lot of young people get trapped by debt at an early age and they spend their whole lives trying to get back out. It's not a pretty sight.

A lot of young people get trapped by debt at an early age and they spend their whole lives trying to get back out. It's not a pretty sight.
I place a LARGEpart of the blame on these credit card companies who act like vultures on college campuses actively "recruiting" new cardholders with premiums such as t-shirts, frisbees, hats, umbrellas, etc. Students today are so tempted by the offers, and little has been done in the schools (middle school, high school) to educate properly the life skills needed to budget and handle money,and credit.
When I was in college over 20 years ago, there were no card companies soliciting students and no one I knew even had a card in their own name. (One that they got by themselves with no parent or guardian as co-signer.) Credit was much harder to get back then and the problem wasn't as bad as it is today.Three of my credit cards that I have, I've had almost 20 years now. I remember having to find an application for them to fill out and send in and wait for their response. Now, not a day goes by when I don't get a "pre-approved" offer in the mail, and with these offers you can apply over the phone or internet and get an almost instantaneous answer. Credit is too easy to get in today's world, and the more credit an individual accumulates, the greater the chance of debt they can amass. All one needs to do is look at the personal bankruptcy rates prior to October 2005 before new guidelines went into effect to see what "easy credit" can do.

I place a LARGEpart of the blame on these credit card companies who act like vultures on college campuses actively "recruiting" new cardholders with premiums such as t-shirts, frisbees, hats, umbrellas, etc.

:werd: I'm amazed at the freebies they have for college kids. The dealiest one is free food. Last year there was a week each semester where there were flyers for free Subway, Pizza Hut, KFC, etc all over campus. All you had to do for a free meal was fill out an application. I ate like a king for free! Or should I say "Julio C. Perez" ate like a king :evillol:

College kids, if you want the free stuff (and who doesn't need free food in college) create a fake identity to use as standard for filling out crap like that. Fake name, address, phone#, and SSN. Before they give you the coupon, they usually quiz you on the info you put down to catch the fakes (me). The way I see it, if they wanna trap poor college kids into falling into debt then they deserve to pay for their meals with no benefit.