Ques:Best card for Uni. Student?

Discussion in 'Other Credit Card Programs' started by alohastephen, Jan 10, 2012.  |  Print Topic

  1. alohastephen

    alohastephen Gold Member

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    I'm trying to get my little brother started in card churning. As a college sophomore, he has never had a credit card or much steady income. He is a scholarship student and financially responsible.

    Any suggestions for a card to get him started on so that he can start accumulating some miles?
     
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  2. harvson3

    harvson3 Silver Member

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    Get a credit report and look at his FICO score. Having little credit history and low income holds most college students back from the big offers (e.g. Sapphire Preferred). Nerdwallet has a rough calculator for rewards cards based on FICO scores.

    Or considering adding him to your cards as a secondary. I was added to my parents' cards when I was in college, which helped build my credit history. (I'm not exactly sure how to do this and make it a hard pull.) By this method, I have an account that's been open longer than I've been alive.
     
  3. alohastephen

    alohastephen Gold Member

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    Really? I don't remember giving SS numbers when I add on card users.
     
  4. tondoleo
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    tondoleo Gold Member

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    Am I correct in assuming you do not have an Amex card? I have always had to include the additional cardholder's ssn. I have never had to do it for Chase or Citi cards.
     
  5. tondoleo
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    tondoleo Gold Member

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    I suggest he start with some of the college cards available. They have low credit lines and it gives a student the chance to build up a record. This could be the building blocks for him to be an effective churner in the future. Of course I assume it will be available to consumers years from now.

    It is never too early to learn financial responsibility via the use of a credit card. Good luck to your bro. May the points be with him.
     
  6. TAHKUCT
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    TAHKUCT Gold Member

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    Amex, for example, requires it.
     
  7. harvson3

    harvson3 Silver Member

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    Oddly enough, the account to which I referred is my parents' in-store Sears card. It's my oldest account, and helps bring down my account age significantly. Of course, that was a long time ago.

    I recommend just doing a Google search on "How to build a credit history." It's the first step for your brother, or really anyone starting out.

    EDIT: And one of the no-fee Capital One cards (1 pt/$) may be available for those with less-than-excellent credit. Oh, and make sure he pays it off! Capital One, as we recently discovered, doesn't have online auto-pay for our account.
     
  8. yaychemistry

    yaychemistry Silver Member

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    I would suggest going for a Chase card. I started with a no-fee card from Chase while I was in college, and I'm pretty certain having a long relationship with them helped me get approved for cards with large sign-up bonuses later on (even though I still have a small income as a graduate student).

    I start with the Amazon Rewards credit card. It has no annual fee and while it stinks as a travel rewards card, for a college student the rewards are certainly useful (books!). The points are instantly redeemable at amazon.com, or you can use it for cash back. The bonus spend categories also match up pretty well for a college student: double points on gas, dining, and drug stores and triple points on Amazon purchases (I know i did most of my spending at amazon.com for books while I was in college). With the bonus categories I think I did somewhere around 1.5% in college (granted I didn't spend that much in college, but any reward is a good reward).
    https://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/card_servicing/partner/page/amazon-points

    Another decent no-fee card is the Chase Freedom, which is a 1% cash back card, with 5% cash back on rotating categories.
    https://www.chase.com/online/Credit-Cards/Freedom.htm?CELL=6154

    If you're going to apply for the Freedom, you can use the link on Lucky's blog:
    http://boardingarea.com/blogs/onemileatatime/best-current-credit-card-offers/
    I think he earns a commission if you use his link, but it has a better sign-up offer than the link I posted ($200 cashback).
     
  9. alohastephen

    alohastephen Gold Member

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    I have the amex plat, but have yet to add users to that one. Perhaps now is a good time to do so. Thanks!;)
     
  10. alohastephen

    alohastephen Gold Member

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    Absolutely.

    Thanks. I defintely want to start him with a no-fee since it will be his first and hopefully a long-held credit card to build his history.

    Do you think that these cards would be approved for someone with no credit history?
     
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  11. yaychemistry

    yaychemistry Silver Member

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    The amazon was actually my second card, after my local credit union's basic card. However, I have friends in grad school who got the Amazon as their first card.

    No clue about the Chase Freedom. I always assume that no fee cards are easier to qualify for than cards with an annual fee... but who knows if that's true or not.
     
  12. alohastephen

    alohastephen Gold Member

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    Not that it should matter for my 20-year old brother, but is there an age requirement to add a card user? 18+?
     
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  13. TAHKUCT
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    TAHKUCT Gold Member

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    14+
     
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  14. icurhere2
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    icurhere2 Gold Member

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    I wonder if the college sophomore could get a credit card at all. A provision of the CARD Act is that an issuer cannot provide a credit card to anyone under the age of 21 without (a) a co-signer or (b) documented evidence of ability to pay ...
     
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  15. TAHKUCT
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    TAHKUCT Gold Member

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    I think that is correct. That is why adding one as an additional cardholder initially might work.
     
  16. MSPeconomist
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    MSPeconomist Gold Member

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    With AmEx Plat, you might be able to get brother an AmEx Green or Gold card more cheaply if he does not need the Plat benefits yet.

    He should check cards designed for students, some of which seem to be travel oriented. If his campus has a credit union, that could be a good place to start. Also, he presumably has a checking account, so he should ask at his bank.
     
  17. alohastephen

    alohastephen Gold Member

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    Really? You only need to be 14 + as an added user. I had no idea. Is 14 yrs the number that amex has? Or for all cards?
     
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  18. TAHKUCT
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    TAHKUCT Gold Member

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    I am only aware of Amex
     
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  19. alohastephen

    alohastephen Gold Member

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    That's good to know. Thank you!:)
     
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  20. tondoleo
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    tondoleo Gold Member

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    If big brother Aloha Steve puts Lil Bro on his Amex account it generates a separate account number for lb. I assume this goes on his credit report. Since he would pay it off on time it would establish him as a credit worthy dude. Once he had a steady income stream LB could get credit cards on his own and enter the magical world of churning and big time mileage accumulation.
     
  21. spesalvi

    spesalvi Gold Member

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    I added my lil sister age 19 on my Chase Sapphire and they didnt ask for a SSN
    Also, when I was a college student not too long ago, I started with an Express card, and then a Macys or Target, thats how I got my credit started
     
  22. deant
    Original Member

    deant Milepoint Guide

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    Just because they give a separate credit card number does not mean that it is a different account. For example, my wife is an AU on my AMEX cards but none of them show up on her credit report - and vice versa.
     
  23. tondoleo
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    tondoleo Gold Member

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    That is interesting. I asked one of my AUs to check their report. Sure enough there accounts that were the same as my card or a different number appeared on their report. This was looking at an Experian report.
     
  24. icurhere2
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    icurhere2 Gold Member

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    And going back to the OP and my first thought - adding as an AU is not churning, as the sophomore (if under 21) still cannot be issued a new card.
     
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  25. Citi Forward has a college student version. 5pts/dollar on food/books (including amazon). and 100 pts per month when you stay under the spending limit and pay on time --> 1200 ty points per year. 1typ = $0.01

    I started with the Citi MTVu card. I had a credit card under my sisters name so I had a very short credit history. Easier if you have a Citi bank account I would assume.
     

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