Choosing A Credit Card

I am looking to register for a credit card soon. I am 19, in college, and have no credit. What things should I consider when choosing a card? What is a good APR for me? Should I try to get a variable or fixed APR? Is the Citi mtvU Platinum Select Visa Card for College Students a good option?

Sounds like you plan to carry a balance.
Please note that carrying balances reduces your score.
Those with top notch credit pay their cc bill in full each month and never pay a penny interest (apr).

If you consider not carrying balances, I would choose one with cash back rewards.
Since you won't be carrying balances, apr will not matter - you'll never pay it.

Now, if you need to carry balances get a card with an apr under 10%.
go to bankrate.com for a list the best cards
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2009-03-18 15:47:15 by A

The right card builds credit while the wrong card slaps you with penalties. Here's how to tell one from the other.

I have a fairly low income, and would like a credit card for emergency payments or unexpected expenses. What should I look for? What should I avoid?

There are many cards with different terms and conditions with different A.P.R rate and annual ncharge so you have to choose from them.
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2007-06-20 07:53:50 by arty.fishal

Price: $5.75

I have A LOT of credit card debt from opening a business and having to sell it in one year because of family responsibilities. Saw a bankruptcy attorney, but the options don't seem to work for me as there's no way I could ever pay off these debts.
I know it's very immoral, but what will actually happen if I just stop paying on them? I know I'll be inendated with phone calls and lose my good credit standing, but can they attach my bank account or any other asset?

I am a paralegal for a bankruptcy attorney who specializes in Chapter 7 and Chapter 13. The first thing you need to ask yourself is--can you live if these creditors get garnishments against you? A creditor can get up to 25% of your paycheck. If the debt is small enough to where it can be paid off rather quickly through the garnishment, then it may not be so detrimental. However, if you are living paycheck to paycheck, it may not be the best situation for you to be in. The other issue is that a judgment, if certified, can attach to your assets, particularly any property you own. If you should want to refinance or even sell your home, those judgments will have to be satisfied and they can often screw up any financing that you have acquired.
Bankruptcy is not as negative as everyone thinks it is. It can stay on your credit report for up to 7 to 10 years. It depends on the credit reporting agenxt. Experian typically reports for 10; transunion and equifax are typically 7 years. However, there have been a multitude of studies recently that show that after you get out of bankruptcy, your credit rebuilds faster than if you were to attempt to do it on your own.
A Chapter 7 bankruptcy usually lasts from 4 to 5 months. And for most individuals, depending on your income level and the exemption laws of the state you live in, you may be paying a miniscule percentage of what you owe. Think -- you pay $1500.00 for attorney fees in a Chapter 7 and you discharge $40 or $50K worth of credit card debt. While some people think it is immoral--just open your Bible and turn to Nehemiah 10:31 and Deuteronomy 15:1-2. If bankruptcy were immoral, would it be legal and provided for by the U.S. Government -- one of the most prudish governments there is? What you really need to look at is your income level. If you are below the median for your area (which you can find in bankruptcy code books or from the state statutes concerning exemptions, which vary from state to state) then you are eligible to file for a Chapter 7. There are other issues such as personal property and how much of it falls within the exemptions, as well as concerns regarding recent transfers of property. These can all be brought to the attention of a bankruptcy attorney and they can guide you in the right direction.
If your income is OVER the median, then you have no choice but to a Chapter 13 bankruptcy...which can be very long and painful for some people. They last from 3 to 5 years and eat up a lot of your income. The Chapter 13 is ideal for people who are behind on their loans to either mortgage companies or their vehicle lenders or if you are behind in taxes and/or child support payments.
The bankruptcy code is federal and does not change from state to state. However, what does change are the exemptions which are incredibly important so I would recommend seeking counsel on those matters.
I have had a lot of clients who have been screwed over by the credit negotiating programs but if you find one that has good references from people you know and is trustworthy-go for it.

2008-07-21 12:05:49 by perkins

Price: $1.49

I really need my first credit card and i want to make sure what companies are the best for a starter? is it chase,target,walmart, sears, or american express i dont know tell me please?????i want something with low interest and to built credit.

You want to build credit, sound pretty good.

In this situation (No or Bad credit history) it might be impossible to get a low interest credit card. Coz, you already know lender won't interested to take risk.

Unsecured credit cards are always best to build credit. You can apply for it, no matter what is the interest rate, who are the lender. Yes, you want to build credit not want to carry balances, right?

If you are a student then you can also try student CC. If not, store CC at least secured credit card available for you. Best of luck

2009-08-31 19:55:29 by Cassy

I'm a full time college student, and I'm looking for a credit card. I'm 18, I have no credit history, and I recently quit my job. What card can I apply for that won't drown me in fees? Thanks in advance!

Well I am a student as well and it wasn't that long ago i was in the same exact situation. Really it won't be that hard to get a student card. They didnt verify my income and I was approved pretty quickly. I ended up actually with 4 cards each from a different bank with about $1000 credit line each. Of course I maxxed them out and I missed like 2-3 payments. They all hit me with big fees but the ones that were the best and had the lowest late fees were bank of america and MBNA(which now is owned by bank of america). I WOULD STAY AWAY FROM CHASE. They raised their rate to 35% and the monthly payments doubled. I HIGHLY recommend getting a card from Washington Mutual(formerly Providian) because the give you your Experian credit score every month FREE!! That helps a lot to start building your credit. That is one of the only cards i still have.

Good luck :)

2007-06-06 19:52:38 by dbabyg4567