True Earnings® Card from Costco and American Express
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Earn cash back on gas and a $25 statement credit with your first purchase made with the Card.
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Earn cash back virtually everywhere you go - 3% for annual gasoline purchases of up to $3,000 (1% thereafter), 3% for restaurants, 2% for travel, 1% everywhere else, including Costco.
Earn 10,000 Membership Rewards® bonus points when you spend $500 in 3 months - redeemable for a $100 gift card!
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The Membership Rewards® program - Earn 1 Membership Rewards® point for virtually every dollar you spend and redeem for your choice of travel, shopping, and entertainment rewards.
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Gold Card Events - exclusive access to tickets for select concerts, shows, major sporting events, and more in cities nationwide.
Starwood Preferred Guest® Credit Card from American Express
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Earn up to 25,000 Starpoints® - enough for up to 6 free nights at a category 1 or 2 hotel.
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Use Starpoints® for free nights and upgrades at participating Starwood hotels and resorts in 95 countries including Sheraton, W Hotels, Westin and more with no blackout dates.
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No annual fee for the first year and $45 thereafter.
Platinum Delta SkyMiles® Credit Card from American Express
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Earn 20,000 bonus SkyMiles® (including 5,000 Medallion Qualification Miles) after first purchase and another 2,500 for adding an Additional Cardmember.
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Earn one companion Coach Class ticket each year upon renewal.
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Earn at least 1 mile for every eligible dollar spent.
What is the difference between an additional card and co-signer card?
An additional card is a card you get on your personal credit account with another person?’s name on it. This means that the person now has access to your credit account as if it is their own account and can charge as much as they want without your permission beforehand. In addition, this person is not held accountable by your creditor for making any payment on the account. This responsibility falls on you, the account holder. As a result, no matter how much this person charges on your card, you have to pay for it?—even if the person promises to pay you back and doesn?’t. A cosigner card is a credit card someone applies for and gets a cosigner to sign on. Essentially, it is the applicant?’s credit account, but if they stop making payments, the cosigner is then responsible for the account. The history of the account goes on both person?’s credit reports. The cosigner will have to make special arrangements with the creditor before cosigning to get monthly statements on the account or reports of late payments. Otherwise, the cosigner will not have access to the account information. If you do cosign on an account, remember that you assume equal liability.
I'm a foreigner and need a credit card to establish credit. I have a Social Security number, but I?’m not a U.S. resident. Are there any cards that I may apply for and get approved?
There are many cards you can apply for, as long as you have a social security number. However, you may find it difficult to get approved because you do not have a credit history in the U.S. To start building a credit history in the U.S., you need to obtain credit from a credit card company or bank that reports to all three of the major credit bureaus (Experian, Equifax and TransUnion). You might have to consider credit cards with higher interest rates, security deposits, lower credit balances or application fees. Read all the terms and conditions thoroughly to protect yourself from a card that will cause you more harm than good. If you have a checking or savings account, apply for your bank?’s credit card. They may approve you since you have a financial history with them. Also, they may add a stipulation that late or missed payments will be withdrawn automatically from your checking or savings account. Remember: always avoid any credit card offers that charge high fees. There are plenty of options out there to help you establish credit. You do not have to go into high debt to do so. Once you establish a positive credit history, you can then get approved for credit cards that cost you less and offer you more.
When should credit card payments be credited?
A card issuer must credit your account on the day the issuer receives your payment, unless the payment is not made according to the creditors requirements or the delay in crediting to your account does not result in a charge. To avoid delays that could result in finance charges, follow the card issuers instructions about where to send payments. Payments sent to other locations could delay getting credit for your payment for up to five days. If you lose your payment envelope, look on the billing statement for the address for payments or call the card issuer.
Annual Fee
some credit cards also have annual fees, which can run as high as $75-$100. Fortunately, the majority of credit card offers for students have an annual fee of $0. Think of it as membership fee, which is tacked onto your balance once a year just for having the credit card. You are expected to pay this fee, and it will collect interest as part of your balance owed. However, if you pay your balance owed by the due date, you will not have to pay any interest
Shopping Around for the Right Card
When shopping for a credit card, you probably will want to look at other factors besides costs- such as whether the credit limit is high enough to meet your needs, how widely the card is accepted, and what services and features are available under the plan. You may be interested, for example, in "affinity cards" -- all-purpose credit cards that are sponsored by professional organizations, college alumni associations, and some members of the travel industry. Frequently, an affinity card issuer donates a portion of the annual fees or transaction charges to the sponsoring organization, or allows you to qualify for free travel or other bonuses.
Previous Balance
Previous Balance. As the name suggests, this balance is simply the amount that you owed at the end of the previous billing period. Payments, credits, or new purchases made during the current billing period are not taken into account. Some creditors also exclude unpaid finance charges in computing this balance. If you do not understand how the balance on your account is computed, ask the card issuer. (An explanation of how the balance was determined must appear on the billing statements the card issuer provides you and on applications and pre-approved solicitations the card issuer may send you.)
Don't be Late, Pay the Minimum
Late fees, these days, may take a toll on your financial health. It would be especially unfortunate to pay a late fee if your total credit card bill is less than the amount of late fee. To avoid this situation, consider paying a minimum due on your bill if you do not have enough cash on hand to pay off the whole bill on time.
Using You Credit Card Card Abroad
taking your credit cards with you on your next overseas trip can make traveling easier. You dont have to carry as much cash or get foreign currency you may not use, and you have a record of all your purchases. Most major credit cards are accepted worldwide, and in many countries credit cards are widely accepted. If your credit cards are lost or stolen and used by a thief, you generally cannot be held responsible for more than $50 in fraudulent charges. That makes carrying credit cards safer than carrying a lot of cash. Some credit card companies will replace your cards (sometimes overnight) if they are lost or stolen while youre traveling another plus.
Debit or Credit?
Once you become a student, you?’ll hear this question almost every time you go to pay for something. If you don?’t know the difference between debit and credit, learn fast. A debit card (sometimes also called a check card) is basically cash, not credit. Any time you use a debit card money is withdrawn right out of your checking out. When you pay for an item, your checking account balance goes down. Be sure to keep track of what you spend. Even though you might have $100 in the account today, you might have written a check for $50 yesterday that hasn?’t posted yet. If you spend $60 with your debit card, your check will bounce when it makes it back to the bank. This can lead to all kinds of fees and penalties.
When should you turn a credit card offer down, and when should you accept?
For the new college student, it can be relatively easy to get a card. It will seem people are everywhere with offers. You will get offers in your mail box, and see VISA, MasterCard and Discover card tables at many school events. The solicitors at these tables will not only ask you to fill out quick and easy credit card applications, but they will also offer you free gifts and incentives just for doing so. The gifts are often yours to keep, even if you choose not to accept their credit card.
