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/biz/ - Business & Finance

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739884 No.739884 [Reply] [Original]

Hey /biz/

Young guy here, I'm looking to apply for a credit card. I know absolutely nothing about interest rates late payments monthly fees etc... Any credit card companies that offer a decent rate, offer for student credit cards? What do you guys use?

>TLDR: need a student credit card, which one should I get?

>> No.739903

>>739884

creditkarma.com

Sign up, check your score, they can recommend some products to you.

>> No.739904

>>739903
thanks for the link, but I'm asking about specific credit cards, which companies have the lowest interest rates?

>> No.739923

>>739904
>which companies have the lowest interest rates?

If you care about that, you've already lost.

Just pay the whole thing off every month.

>> No.739924

Credit Karma will pre-approve you.

A really good practice is to take a card with a 30-40% interest rate and use 90% of your loan amount and leave it like that for a few months only paying the minimum. It will add to your credit score.

>> No.739929

>>739923
This. Anything else is just irresponsible. Credit cards are like the vending machines of loans.

>> No.739933

>>739924
>card with a 30-40% interest rate
>30-40% interest rate
Is it normal for companies to charge this much?

>> No.739947

What's your goal? Get a good credit score?

If that's the case, don't worry about interest rate. They will all more or less be 15-20%. Buy small things on the card and pay it off every month and interest rates won't matter.

Never miss a payment, never make a late payment. You will get a good credit score for a long history of being on time with payments.

>> No.740495

>>739884
First of all, pay your card in full EVERY MONTH. Set up autopay to do this for you, and recheck at the beginning of each month to make sure that it's all through (sometimes on some cards the pending transactions don't)

I used to use the quicksilver with 1.5% cashback on anything, but now use the citi double for 2%, but that requires better credit.

Try the quicksilver, if not go to your bank and get theirs. Nerdwallet.com is a good one. If you ever like to travel or like playing around with rotating reward categories you can go for others, but I like the flat rate.

Also, I'm involved with a small business that can charge things to my card and reimburse me, giving me a free 2%. So try and do that.

>> No.740508

>>739924
Don't listen to this guy he's trolling the fuck out of you.

If you drive a lot to go to school get the Bank of America cash rewards card for the 3% on gas, other wise get the double cash card from Capitol One.

You don't pay any interest on if you pay off every month. Also, you want to always be between 1-19% of your MAX credit amount. So if you get approved for $300 (which is most likely of its your first card) spend around $50 on the card every month and pay the bill IN FULL as soon as you get your statement in the mail. This ensures you'll never pay interest or late payments but you'll accrue roughly $1 a month in rewards. Doesn't seem like a lot but its free money that you can just use towards your bill every few months or you can send it to your checking account en route to an investment account once you've got enough saved up to invest.

Just remember the biggest factor is 100% on time payments (no late payments).