Credit Card for a college junior? - Chase Freedom ?? what should i get?
August 17th, 2009
I am leaning toward Chase freedom. I get an instant $50 rebate with my first purchase as well as 1% cash back.
What do you guys think??
The words "Freedom" and "credit card" should never be used together.
Why would cards make these offers, other than to hope to get you in debt and so you will be paying them interest forever when you can’t make the minimum payment.
Hmm, 1% cashback to you vs. 7.99 or perhaps up to 21.99 percent interest to them when you don’t pay it off. And late fee charges can be $30 or more.
I vote to sticking w/ cash and debit cards myself. Most people say they are going to pay it off every month, but very few do. I sure didn’t.
Comments
Chase is quick to charge late fees even when you don’t get the bill.
References :
The words "Freedom" and "credit card" should never be used together.
Why would cards make these offers, other than to hope to get you in debt and so you will be paying them interest forever when you can’t make the minimum payment.
Hmm, 1% cashback to you vs. 7.99 or perhaps up to 21.99 percent interest to them when you don’t pay it off. And late fee charges can be $30 or more.
I vote to sticking w/ cash and debit cards myself. Most people say they are going to pay it off every month, but very few do. I sure didn’t.
References :
I don’t have a whole lot of experience with this but when you get credit card offers in the mail it’s best to just shred them.
Go to a reputable bank that you trust and have used before and ask about getting a credit card there. Your already a customer of theirs, if not a potential one, and they will be far more likely to accomodate you. The offers in the mail are just trying to set you up with something they dont think you understand so they can nail you with fees and debt.
At the bank you will be able to discuss the type of card you’re getting, limits, fees, benefits, interest rates and all of the details before you sign up for anything so you’ll know exactly what you’re getting yourself into. You can also double check all of the math, you wouldn’t believe how many mistakes banks make.
You should definately get "a" credit card, and if nothing else use it for small things like gas/groceries and just pay the bill in full on time to build yourself a credit rating. This way when you go to finance a house or car you’ll have far more options and far less interest.
And literally, shred the apps in the mail, even if they’re blank. If you’re "pre-approved" identity thieves can and have actually filled out other people’s information on them with different addresses; gotten and used the card in others’ names. If it has any of your info on it already then shred immediately.
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