What's the best starter credit card?

I am 17 and have not yet gotten a credit card, but have been researching for a while. I want to get one to begin establishing credit, but I'm having a hard time sifting through the tons of cards out there. Is there a card or type of card that builds faster credit or more credit? There are a lot of "student cards" on the market, and it seems that they do neither, but instead are a marketing ploy; is this true? There also are cards meant for people with bad credit or no credit which claim to build it faster by reporting to bureaus more often; do these cards actually make a difference?

Also, I plan on only buying with it what I can pay back because the point of getting a card is to establish my credit, so I'm trying to figure out what is more worth it if cards all build credit the same. I won't be buying a lot, so I won't rack up points and therefore while 5% is a good cash-back rate, it is rather trivial in the grand scheme of things. I won't be needing to have low APR because I will pay everything back in full every cycle. What should I be focusing on then?

Quote:

Originally Posted by Eloyke

Is there a card or type of card that builds faster credit or more credit?

No. This is a myth. As long as you get a card that reports to the 3 principal CRAs you're in good shape. "More" credit is built over time as your CL increases.

Quote:

Originally Posted by Eloyke

There are a lot of "student cards" on the market, and it seems that they do neither, but instead are a marketing ploy; is this true?

Yes. Just easier to get. As long as it reports, does the same thing.

Quote:

Originally Posted by Eloyke

There also are cards meant for people with bad credit or no credit which claim to build it faster by reporting to bureaus more often; do these cards actually make a difference?

These are typically secured cards. They are used to rebuild credit. They also report on a monthly basis to the primary CRAs.

Quote:

Originally Posted by Eloyke

I won't be needing to have low APR because I will pay everything back in full every cycle. What should I be focusing on then?

I think you have the right attitude. If you PIF, you'll pay NO interest. Keep it up for 6 to 12 months and you'll be prime offers. Good luck.

Quote:

Originally Posted by Eloyke

I am 17 and have not yet gotten a credit card, but have been researching for a while. I want to get one to begin establishing credit, but I'm having a hard time sifting through the tons of cards out there. Is there a card or type of card that builds faster credit or more credit? There are a lot of "student cards" on the market, and it seems that they do neither, but instead are a marketing ploy; is this true? There also are cards meant for people with bad credit or no credit which claim to build it faster by reporting to bureaus more often; do these cards actually make a difference?

Also, I plan on only buying with it what I can pay back because the point of getting a card is to establish my credit, so I'm trying to figure out what is more worth it if cards all build credit the same. I won't be buying a lot, so I won't rack up points and therefore while 5% is a good cash-back rate, it is rather trivial in the grand scheme of things. I won't be needing to have low APR because I will pay everything back in full every cycle. What should I be focusing on then?

The best credit card for you right now is bank of americas student card. You don't have to pay anything until your out of college which is enough time to save up.

Thanks for the Information, i too am young thinking about getting a credit card here sooner or later. Very helpful info for a beginner like me, thanks!

Joe Gpt

Student credit cards will probably not build your credit any faster. Time will build your credit. However, student credit cards may be easier to acquire if you have never had a credit card before. They will also help establish your credit as well as other cards. Just make sure to find one that is going to work best for you. If you are trying to establish credit and only that you probably wouldn't need a card with miles or rewards. A card that offers cashback would simply give you cash back on your purchases. Hope this helps.

That may be true that you don't have to pay until out of college, but then when you get out you will have to pay for 4 or more years of purchases. Then you would have a lot more debt to pay back than just student loans.

this page has credit cards for everyone-- literally over 100 offers, browse through and see which is right for you--

i dont know