Quote:
Originally posted by AlphaSigOU
One card you may want to also consider is American Express.
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The trouble with American Express is that they do charge an annual fee. I think a basic green card goes for $55/year now (used to be $35), and the platinum card is now $395/year (and like the centurion card, is by invitation only).
On the up side - they do force you to pay your balance in full every month, so you know you have to set the money aside or else. They are also very generous about extending credit to students - the first thing I put on my Amex, which was my only credit at the time, was a $2000+ computer, and there was no problem. You can also accumulate reward points that you can then transfer to airline frequent flyer programs or redeem for various things. (If you're dropping $500+ every semester on books, you might as well earn points for it
)
Actually, you have a good plan - if I were you, I'd get a Visa or Mastercard (particularly if you can find one with a low APR), and use it for small things and for emergencies. Don't carry a balance if at all possible; if you must, then be sure you're at least making the minimum payments on time. One late payment can hurt your credit and will jack up your APR.