No. of Recommendations: 5
Well, my boyfriend and I were freshmen last year and we both signed up for cards. We read all the fine print, don't carry balances, get rewards/cash back, and are very pleased with this project. :)

He first got the amex blue for students, but then decided he wanted the amex clear, and got that, too.

I got the amex blue cash, which I absolutely adore, but I also got the sharebuilder platinum visa--cuz amex isn't accepted everywhere, and I wanted to have a backup for emergencies.

Our decision to apply for cards was completely on a whim, but we weren't stupid about it. We studied up for a good hour (lol) on cardratings.com, the Fool, and msn Money before applying online. We went for Amex because it had a reputation, but because we did some homework, we also had a good idea of what wanted and didn't want.

-no annual fee
-we definitely wanted cash back/rewards (why not?!)
-preferably no expiration date on rewards (Sharebuilder Visa is 24 mos., but I'm careful)
-no CapitalOne, they don't fairly report your credit!

We didn't really care about interest rates, we never planned on carrying balances. We do charge just about everything we buy, and so we've been racking up some very sweet benefits! And our credit scores are awesome. We didn't even need our parents to co-sign our apartment lease, we can vouch for ourselves. :D

My parents were all proud when I told them about my card, I've never been irresponsible with my money--but my boyfriend's mom freaked out. Probably a reasonable reaction, considering she's got over $20k in credit card debt.

Sorry for writing a storybook here, I'm still feeling proud of myself. :)

But really, make sure your kid knows what a credit report is, why it's important to keep it gorgeous. If he understands that, I don't see why there should be any problems. We're just 19 and 20, but definitely old enough to appreciate the risks of being irresponsible with credit.
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement