<p>How is the Apple Credit Mastercard (<a href=“http://store.apple.com/1-800-MY-APPLE/WebObjects/AppleStore.woa/wo/1.RSLID?nnmm=crda&mco=872B9EEF[/url]”>http://store.apple.com/1-800-MY-APPLE/WebObjects/AppleStore.woa/wo/1.RSLID?nnmm=crda&mco=872B9EEF</a>) comparable to other credit cards? Are there any kind of tricks of hidden fees in the terms and conditions ( <a href=“http://www.juniper.com/app/japply/lp/TnCs.jsp?prodidreq=CCMPS02724[/url]”>http://www.juniper.com/app/japply/lp/TnCs.jsp?prodidreq=CCMPS02724</a> )?</p>
<p>I am a college student who has never had a credit card before. This is primarily because I have a fear of exponential expansion of payments with interest and whatnot (I thought, why pay interest when I can pay cash and not worry about it)…But lately I have been thinking that it might be wise to get a credit card to build credit, even if I am not spending a lot of money (part-time job/not a big spender). </p>
<p>I have heard that store credit card accounts are often the most sneaky in terms of luring in buyers with some kind of instant deal but then nailing the person with sky-high interest rates and fees later on. I can’t ask my own parents advice about this because they’ve never had a credit card and don’t know much about it either. Any advice would be appreciated.</p>
<p>Since you have no credit, you may be denied a line of credit, but at best you will get the highest interest rate. Now, the interest rate is irrelevant IF you pay off your balance in full every month. This will help you build good credit. If you can’t, however, you will be charged interest. Additionally, a close read of that information indicates that not only does a late payment hurt your credit rating, but accrues a $39 charge to the account.</p>
<p>It doesn’t sound like a great idea unless you plan to make a large purchase through apple in the near future. One of the best cards I have seen in terms of helping you protect your credit is the Citi Simplicity card. It will remind you when a payment is due, and you can always talk to a live person to get help understanding credit and paying your bills. There are also cards designed for students, with low credit lines and other incentives, but beware that the interest rates on these are astronomical.</p>
<p>You want a card with the lowest interest rate you can find. Features like cash back incentives and things like that are not useful unless you spend a lot of money regularly. A simple, basic card with a low interest rate will serve you better until you get a regular cashflow. </p>
<p>take a look at the terms and conditions. Evaluate them on the highest interest rate you can find on the page. Avoid cards with annual fees and no grace period.</p>
<p>Its fine…personally I like my HSBC issued Mastercard since they gave me overdraft protection for very cheap.</p>
<p>Thanks for the advice.</p>