S2 has been employed for a month and while still an authorized signer on my discover would like to get his own credit card. I don’t mind being cosigner if required. Can anyone recommend a good starter card with some type of rewards?
I constantly discussed how foolish it is to finance anything at credit card rates, so he’ll likely hook up auto pay and never have an unpaid balance.
Is he still a student? I just got my son (freshman) a Discover student card. Or more accurately, he got it. I did not co-sign. I too was looking to get a starter card for him so he could begin building credit. You are never too young to begin. One has to leverage time.
If he lives near an airport served by Southwest Airlines he should look into the Southwest Plus card. It has a $69 annual fee but Southwest is currently offering bonus 40,000 points if you charge $1000 in the first three months. Aside from the bonus, every dollar spent earns one point. If you book your flights in advance it’s possible to fly coast to coast for less than 10,000 points, so the signup bonus alone could yield four one way flights.
Wow, @sherpa , that is a good deal, but he just took a full-time job so he won’t have vacation for a while. I’ll mention that one though. @MassDaD68 , not a student anymore…yay!
@AllThisIsNewToMe - No rush to use the points; they never expire. But also no rush to sign up; sometimes they offer a bonus of up to 60,000 points.
Maybe start by seeing if he can get a Discover card in his own name? My S had a hard time getting a credit card in his own name when he started work.
If he has a checking account at Wells Fargo try them. All three of mind got cards from them without any problem.
If he is a signer on your card, if Discover is like Amex, he should have a credit history with them and be able to get his own card.
Wells Fargo does indeed allow a credit card with a checking account; I would think most banks would do the same, especially if he has direct deposit.
Does he use Amazon a lot? I love my prime card. My roommate who has little income and little credit got it too but at a lower limit.