<p>Son received this credit card offer from this bank, and I was wondering if parents here have any good or bad experiences with them. I searched their website and they don’t look like a real bank. Summary of the credit card:</p>
<p>(1) Credit line between $150-$1,000 (we decide)
(2) No Finance charge for purchases up to $250 (if you pay minimum)
(3) 25 day grace period
(4) No annual or application fee.</p>
<p><strong><em>If you default, the APR could be minimum of 25%</em></strong></p>
<p>My D also received the same credit card offer in the mail yesterday. I did some research on the internet and found a site with a lot of complaints regarding this “bank.” So to answer your question, no, we have not had any personal experience but I read enough to throw the offer in the trash :)</p>
<p>This First Financial Bank USA credit card company is the last company you want your student to get initiated with. Don’t forget that as soon as you use the card one time, you have to pay a $1.5o membership fee EVERY MONTH! And, if you pay the buck and half on-line…it costs you $9.00 extra !!! Now, if you don’t believe me, you can go to their website and attempt to read the fine print on the credit card offer…but wait…no! They won’t disclose anything! You have to have received an offer in the mail!!! THey CLEARLY don’t want parents butting in to see how ripped-off their student’s getting. This is everything that is wrong with this country. I guess we just don’t like freedom, as a certain idiot would say. I figure he went to the same college of cheat and steal as these guys. STAY FAR AWAY FROM 1FBUSA!!!</p>
<p>Boy this was so long ago. Anyway, we did get that as his first card. Used for about 6 months and when better offer came got new card and threw away this card. It served its purpose though. Horror stories and 25% interest scared him so much that he is very careful with his ‘good’ credit card.</p>
<p>This card is the biggest rip-off going. We cut up our sons after 1 month. They didnt send him a bill - good thing Mom noticed, because the late fees would have mounted (for ANYTHING - there is a fixed fee of $37 for ANY transgression). They tacked on a $37 fee for going $50 over his limit of $250 - 1 penney over will generate this charge! Big feesif pay on-line - big fees for the student to pay over the phone.</p>
<p>A VERY. VERY bad credit card. Definitely NOT worth the pain!</p>
<p>Second day:</p>
<p>Well it just gets worse - First Financial gave erroneous information to us, from which we stupidly paid our bill in full. My son was over his $250 limit by $1.00 - for that he was charged $37 PLUS another $37 for the next biling cycle - before he even had a chance to see the first blll and 1 month before that first bill was even due!!</p>
<p>A horrible, horrible company. I have written to our local Consumer Complaint Board.</p>
<p>Does anyone have GOOD solutions for credit cards? My kid has a VisaBuxx card for emergencies because I can load money onto it; but she wants a real credit card and I fear all the above horrors. Her friends seem to have authorized user cards on parents’ account.</p>
<p>If you are members of USAA (via parent or yourself being a military officer I believe) - they have a very nice student credit card. The credit line I believe is $500 the first year and then goes up for each year in college. No annual or monthly fees. Can’t remember what the grace period is, but since my son has a USAA checking account he pays bills on line.</p>
<p>If you belong to a federal credit union, they should have a student credit card available. Because my S had a debit card already with the credit union, he was able to get a credit card as well. No annual or monthly fees. Since it is only to be used in case of an emergency so far so good.</p>
<p>There are LOTS of threads on this. Many college agers have BofA, because it can be tied to your checking/savings and paid online. My son has one and he pays whatever he charges right away from his checking account. Gives him the flexibility of the card without the worries of a big bill looming. He has had it for a year, and never paid a dime of interest.<br>
A debit card wasn’t as good because he had work expenses this summer that he needed to charge, then get reimbursed. When reimbursement check came, he put it in checking, then transferred the funds.</p>
<p>I got a student American Express for my daughter when she went overseas for a study abroad. While there is an annual fee, it has all the perks of any AMEX card and no preset limit. When her computer crashed she was able to go to the Apple store and buy a new one. You can apply online at americanexpress.com. She also has a visa card with First National Bank of Omaha for day to day expenses that has increased her limit twice. For students, I recommend the bills come to the parents to ensure they get paid on time (and to keep an eye on expenses). By the time they graduate, they will be on their way to a good credit score.</p>
<p>In lieu of co-signing, the American Express Blue Cash for students looks more palatable. Will be checking for any negative comments on the web. </p>
<p>It has a $1000 limit (more reasonable than the $250 that First Financial has - which is just begging the kid to go over their limit!). It has free, user specified, on-line alert service for various things, including how many days 'till payment due and how many $ near your spending limit you are. </p>
<p>The fees are equally as bad as First Financial, but looks like you have more of a chance of avoiding them. Also a better interest rate, I believe. Reward points earned and it has many of the other typical AMEX protection/insurance features.</p>
<p>At most colleges, banking info is available at orientation, and there are lots of “student oriented” credit card offers available. Banks are EAGER to signup young users. I would wait until your kid has chosen a college, then look at the atm’s and banks available near campus. Many colleges have atm’s on campus linked to one bank- and that bank is usually the most convenient to sign up with. Often these student accounts have no fees/low balance limits/ expanding credit card limits etc. The banks are looking to lure customers in now, so that when the student graduates they will continue as customers.</p>
<p>My D has had good luck with a credit card from Wells Fargo. They have even reversed fees for her. It is linked to her checking account. It is a college student package-checking, savings and credit card. I don’t remember the initial limit but they have upped it over the past 3 yrs.
I still have my first Citibank credit card that was issued way back when I was in college.</p>
<p>wow all these bad reports are news to me so far i have had my card for 2 yrs now and i havent had any of those problems. but then again i definitley dont spend up to my limit on anything.</p>
<p>Just an FYI. If ever you get additional charges that you think are unwarranted (a charge for going over your limit —well, even if it is warranted…), if you call the company and complain 99% of the time they will drop the charges. Take advantage of this and don’t pay because there’s another way!!!</p>