kitty56

Boy, I guess things have changed in the six years since my D got a credit card (at age 17). She received invitations by mail to apply and was just about guaranteed to receive it. The only hitch was I was listed as a co-signer. That was no problem. She was approved for a regular Capital One card with the low credit limit we selected. She had no credit history at the time.

Fast forward to now. S is 18. He has had no invitations by mail - I guess maybe they don't solicit the younger crowd anymore? We searched online and found many "student" credit cards offered, so he applied for one. They did not ask for much information at all. Just got the letter that he was denied because of "only a limited credit history". Duh! He's 18 and .... a student!! I even called the card issuer and he said, yeah, I know, that doesn't make any sense.

So how does one build a credit history now when he can't get credit because of "limited or no credit history"?

mom60

If you have a BofA or Wells Fargo they have a package that offers student checking, savings and a low limit Mastercard or Visa.

kitty56

Oh, thanks! We have BoA around here, so I'll check that out!

laxmom

consider yourself fortunate! My S receives, on average, at least 2 per day, everyday. I swear, I'm soon going to just start returning the empty envelopes. My shredder is working overtime!!

jym626

Check this out http://www.bankrate.com/brm/rate/cc_...dent&newr1=112 for a comparison of student cards. I got my s a Shell gas card when he was in HS-- one in his name and one in mine (I never used mine). It helped him build his credit. He was then able to get a creditcard from Citicard that offers percentages back on purchases, no annual fee, etc. He's been extremely responsible with it. This table from bankrate.com , and others on their website, have a lot of good info on creditcards.

fendergirl

go to your bank and ask them about getting a credit card through them. Or just wait till he goes to college and the banks will line up to give them to him.

I had the same card as your daughter when i was 16, and i loved it. i actually still have it... just with a higher limit and my mom is't on it anymore.

younghoss

In our case, son got a checking and savings at 16, with only a debit card[checking]- no actual checks. That prevented him from easily writing bad checks, as some youngsters do. Also, when we got his first car, we financed part, debt in his name, us as cosigners. We mostly made payments as gift to him, but it went on his credit history. Its tough to wait until 18 to establish credit then expect it almost instantaneously.

Novelisto

Call 1-888-5OPTOUT or visit www.optoutprescreen.com to stop being deluged with credit card solicitations.

collegemom16

Go with your child to the bank at age 16 and sign them up for a Visa Check Card. Two years of responsible use of the check card will establish their credit by the age of 18.

fendergirl

isn't a visa check card a debit card? debit cards don't establish credit.

i mean, i could be wrong about that.. but i know my debit card is also a visa check card and it does not show up on my credit report.

PackMom

S got a debit card from our bank (Wachovia) at 16. He went last summer at 19 to get a Visa credit card. They signed him right up, no parent required.

S said at his college (large public U) there were opportunities everywhere to sign up for credit cards. Card Representatives would offer free pizza, t-shirts, whatever to get kids to sign up.

We also get tons of credit card offers for S everyday in the mail. He doesn't even live here anymore and gets more mail than the rest of us!

kwtortoise

Many student checking accounts will offer you a separate low-limit credit card. There is also the option of adding your son to your card...it won't help as much, but does establish some credit from personal experience and what I've heard. I was added to my parent's cards at 16 or so, and had some credit by the time I was 18.

I also got denied for my first student credit card though! Trying another company could help. Also, they offer pre-paid credit cards to help raise your credit score and establish history. Just watch out that they don't charge you any fees besides an initial "deposit!"

dmd77

Some colleges don't give out their mailing lists; others do.

I have been very happy with the treatment my kids have gotten from B of A, where they have student checking and student credit cards. Both just switched theirs to "adult" cards and received increases in credit limits based on their new jobs and past credit history.

futurenyustudent

I got a starbucks duetto visa card with no credit history whatsoever (by the way it's issued by chase) (www.chase.com/starbucks) and I got a pretty high limit on it($800->$1100). Plus they give out $25 in starbucks dollars after your first purchase, and 1% into a starbucks account. They give out bonuses like candy.....but don't try AmEx until you have a solid credit history...they rejected me like 3 times.

blucroo

Best to get a credit card linked to a checking/savings acct for a student.
Student should use the credit card once a month initially for school related items and then pay off immediately thru the same acct. Link the savings for automatic overdraft protection. The credit card can also serve to cover overdraft.