Oct 5, 2010
186
0
Status
Hi,

I do not have a credit card. I use mostly my debit card.
If I apply now thry my back, I am likely to get a secured Credit Card with approx $49 annual fee. I do not have any credit history.
What are my chances gettinmg a credit card once I join a med school?
Will there some new banks give some attraction th enew stuents when they reach new city?

Or my best bet to goo ahead to spend $49 and get a secured card.
 

Lukat

lightning bonesetter
7+ Year Member
Nov 16, 2009
367
3
the South
Status
Resident [Any Field]
Hi,

I do not have a credit card. I use mostly my debit card.
If I apply now thry my back, I am likely to get a secured Credit Card with approx $49 annual fee. I do not have any credit history.
What are my chances gettinmg a credit card once I join a med school?
Will there some new banks give some attraction th enew stuents when they reach new city?

Or my best bet to goo ahead to spend $49 and get a secured card.
Are you still in college? If you are, look into US Bank credit card. They gave me a card without credit history (since I was student) and no annual fee. The credit line at the beginning was not that great though (~$500-1000) but they will increase with time depending on how on time you pay your monthly bill. Hope this helps :)
 

Isoprop

Fascinating, tell me more
10+ Year Member
5+ Year Member
Oct 15, 2007
4,197
34
Status
Medical Student
do not get a secured credit card--they are for people with bad credit, not NO credit. i had this problem when i first started shopping for credit cards.

the easiest way to get credit is to piggy-back off your parents or family and ask them to add your name to an account. of course, do this only if your parents have good credit.

the second easiest way is to look into student credit cards. discover can be lenient to students, but check around campus for credit card ads. use how much financial aid you are getting per month as your monthly salary. they can be very generous with modestly high APRs and no annual fees. try to use your card regularly but do not carry a balance (credit card debt is the last resort). Easiest way is to use it for gas and groceries only.

credit cards you want to avoid as your first credit card is capital one and american express. these credit cards do not report your credit limit to the credit bureaus, which will affect your score. After your first credit card (with no annual fee), then i recommend getting american express b/c they have very generous offers and good perks.
 
OP
P
Oct 5, 2010
186
0
Status
Thanks for quick responses.
I am out of school and right now working and get direct deposit to my bank account.
I am joining med school next year.
As I do not have any credit history, will I et student loan for my med school?
I got loan in my college and my parents plan to pay it off soon.

If I get added with my parent's credit card, will it build my credit history?
 

sedaniel

10+ Year Member
7+ Year Member
Oct 7, 2008
734
0
Detroit, MI
www.facebook.com
Status
Medical Student
do not get a secured credit card--they are for people with bad credit, not NO credit. i had this problem when i first started shopping for credit cards.

the easiest way to get credit is to piggy-back off your parents or family and ask them to add your name to an account. of course, do this only if your parents have good credit.

the second easiest way is to look into student credit cards. discover can be lenient to students, but check around campus for credit card ads. use how much financial aid you are getting per month as your monthly salary. they can be very generous with modestly high APRs and no annual fees. try to use your card regularly but do not carry a balance (credit card debt is the last resort). Easiest way is to use it for gas and groceries only.

credit cards you want to avoid as your first credit card is capital one and american express. these credit cards do not report your credit limit to the credit bureaus, which will affect your score. After your first credit card (with no annual fee), then i recommend getting american express b/c they have very generous offers and good perks.
This. Also, check out Chase, I do all my banking with them (I've got both a debit card and a credit card). They give 5% cash back and no annual fee on the Chase Freedom card: https://www2.chase.com/creditcards
 

StarStup

10+ Year Member
5+ Year Member
Dec 13, 2007
323
2
Penn and ID
Status
Pre-Medical
Thanks for quick responses.
I am out of school and right now working and get direct deposit to my bank account.
I am joining med school next year.
As I do not have any credit history, will I et student loan for my med school?
I got loan in my college and my parents plan to pay it off soon.

If I get added with my parent's credit card, will it build my credit history?
Yes you will get student loans for med school. They are fairly easy to get especially if you are getting federal loans. I don't have a credit card either and have been easily able to get student loans for undergrad and grad school...without going through my parents, so on my own. I am also going into med school next year. So I wouldn't worry about it.
 

Isoprop

Fascinating, tell me more
10+ Year Member
5+ Year Member
Oct 15, 2007
4,197
34
Status
Medical Student
As I do not have any credit history, will I et student loan for my med school?
The grad plus loans require that you have no bad credit. Having no credit will not hurt you.

If I get added with my parent's credit card, will it build my credit history?
Yes.