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I have practically no income right now, but my parents are willing to periodically transfer me money to cover my purchases (I'm an undergrad so my focus is on studying as much as possible for now). The vast majority of my purchases are off Amazon (and off other digital things) - but I've already been rejected for credit cards twice (one of them being a Bank of America student card). I know that I should get one soon to build up my credit score, especially if i want to move out of state for grad school

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    Sorry. Voting to close as too localized. Over time the answer to what the best credit card will change and even for one point in time this is a highly individualized question. – JohnFx Jul 6 '11 at 18:25
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You should start with a credit card with lower underwriting standards. A gasoline card or department store card is a good example. Make modest purchases and pay them off early or on time in full.

I'm assuming that you're not leaving out things like late rent payments, judgements, defaulted loans, etc.

Do that for a few months, and sign up for a card marketed towards students. I'd personally recommend an American Express card with no annual fee.

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Join a credit union and see what products they offer you.

My feeling is that, other than people with specific needs or rewards requirements (like air miles or cash back), a "best for" credit card is a category that covers everybody, not a small selection of folks.

  • Low interest rate
  • Simple terms and conditions
  • One that you pay off every time.
  • Okay thanks! Would I have to deposit money into a CU though? – InquilineKea Jul 5 '11 at 23:56
  • You would have to join. The last two I joined (and the many I looked at) cost about $5. Better to bank at a CU if you can find one that works. – MrChrister Jul 6 '11 at 4:43
  • I see. Could I put most of my fluid money into my regular bank account and use the CU just for occasional deposits/withdrawals? (this is what I'm considering since convenience is very important for me right now, and the only nearby ATM machines are bank of america ones) Would that build up my credit score? – InquilineKea Jul 6 '11 at 6:09
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    Personally I use a CU for ALL my banking, I don't have an account at a 'bank'. The folks at the CU are friendlier, the rates are generally better, etc. after all the members ARE the shareholders. I joined a CU when I was in college some 30 years ago and have never regretted it. – Chuck van der Linden Jul 6 '11 at 7:25
  • I personally don't ever visit the branch of my CU. It is two timezones away. I use the Internet, ATMs and Direct Deposit. (My CU does online deposits of checks with a scanner.) Credit Unions are just like banks. My CU as well as my online bank both refund ATM fees. There isn't anything more convenient. – MrChrister Jul 6 '11 at 15:45

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