What things should I consider when choosing a credit card?

Alan asked:


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?

Jeffery

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2 Responses to “What things should I consider when choosing a credit card?”

1. Judy Says:
   July 23rd, 2009 at 6:44 pm

   Nicole

   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
   /

2. red Says:
   July 26th, 2009 at 12:29 pm

   Peter

   Do not get a credit card until you are financially secure with a real job and out of college. They are evil and they will suck the life blood from you financially.