2 questions...one about applying for a student credit card, and one about starting an online business.?

Sorry that I didn't write the question in the question box.

But ok, I am in college, and applied for a chase visa card. Im 19, so I only am gonna make about 15,000-20,000 this year (manager at a mcdonalds) The only reason I applied was to have a credit card to start an online business of some sort ( give me ideas if you can) I also applied so I could start building my credit since I have NONE.

What do you think? Will I be denied the credit card...(remember its a student card) . . . and do any of you have any experience with starting an online business, or experience with making good money on the internet?

I really appreciate you guys helpin' me out.

Update:

Oh believe me, I know the evil that credit cards can bring, I've seen many people fall into DEEP DEEP debt from credit cards.

I don't see it as free money, I would rather not go to the bar and have a fun time and I would rather be able to buy a house and some nice cars when I get a little older.

I dont want a credit card to waste my money and fall into debt, I want it to have a better future for myself....if that makes any sense at all. My parents raised me well, and always told me how evil credit cards are.

5 Answers

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  • 1 decade ago
    Best Answer

    In today's academic world, most students need a college student credit card and the good news is that the offers for these are plentiful. Many creditors are very anxious to have the new college student apply for and get approved for a student credit card, because they realize that if they can strike up a good relationship with this customer at this young age, then it is highly likely that they will be their customer for life. And make no mistake about it, the credit card industry is making money hand over fist these days, especially since very few consumers pay their entire bill in full at the end of the month, so all those interest charges add up.

    But the ease of getting a college student credit card is also the bad news because many college students have not yet learned responsible financial management. The temptations when a student is away from home, living in the dorm or an apartment, are tremendous – spending a little here to have a night out at the bar or dance club, spending a little there to chip in for a keg of beer, whipping out the plastic to get airline tickets (even though they are a great deal) for the spring break trip to Florida, and the list goes on.

    What happens is that the student is tempted to view this as "free money" since there are not dollars bills floating out of his wallet at the time of the purchase, so it almost seems like they are getting something for "play money". But make no mistake about it, there is nothing fictional about the fact that this student has just racked up some charges on that college student credit card, and it will be a taste of stark reality when he starts to get calls from the credit card issuer asking for payments to be made on time. get all information about it at: http://www.credit-card-gallery.com/article/141,How...

  • 4 years ago

    Discover's interest rate doesn't really matter if you don't carry a balance. They're a solid company and sailed through the credit crunch, and JD Power puts them near the top of credit card companies in terms of overall satisfaction. (They're only beaten by American Express, which did not exactly sail through the credit crunch.) You still need a Visa/MC for merchants that don't take Discover, but if you can make Discover your primary card, go for it. Not sure what you mean by "cash back interest." They have a tiered cash back system, meaning you get back 0.25% of the first $3000 spent at the end of the year, and everything after that gets 1% back. There are also quarterly 5% spending categories (with caps), online stores that offer up to 20% back, and you can redeem your cash back for certain gift cards at a greater than 1:1 ratio, effectively increasing the cash back percentage. It's complex, but if you like bargain hunting you can make it work for you. Even if you don't like bargain hunting, you get something back, and every cent counts these days. Discover, like most credit cards, has a grace period for purchases. That means you don't pay interest on any purchase if you pay it off by the end of the grace period. In practical terms, that means as long as you pay your bill in full every month, you don't pay interest. There are different interest rates and fees for balance transfers and cash advances. But since this is your first card, you won't be doing a balance transfer. And Discover offers "cash over," which is like getting cash back from your debit card at participating merchants. This is like a free cash advance--no extra fees attached, pay it back when your bill is due and pay no interest. Cash over is, as far as I know, unique among credit cards. I apologize if I sound like an advertisement. I don't work for them, honest. It's just a really interesting card and appeals to the inner geek.

  • Anonymous
    1 decade ago

    In the multi-dimensional and fast paced world of today you need to inculcate knowledge about money management in children from a young age. Since children generally move away from home to attend college they need to learn about credit cards and how to use them. Finance education is important as children who taste independent living for the first time can go astray when in the company of undisciplined peers.

    � Most parents introduce their kids to the use and management of credit cards while they are living at home. As soon as a child turns 18 parents may: give the child a "companion card" to their personal credit card or get the child a student credit card.

    � Student credit cards are especially formulated for use by students and have certain restrictions in built to protect the student from over spending.

    � The bank or institution offering a student credit card will initial offer a limit of USD 500-1000. Increases in credit limit are okayed if a parent or guardian becomes a co signer and takes responsibility for payment of bills. Read more about student credit card at: http://www.credit-card-gallery.com/article/117,Stu...

  • Anonymous
    1 decade ago

    Ok first let me tell you about credit card. You can get one very easily as you are 19. Try to pay your bills on time to make good credit score.

    To know more visit

    http://creditcardbiz.blogspot.com

    and

    http://onlinepaymentoption.blogspot.com

    Second part of your question is about online businessand let me tell you that most of them are scams and so be careful before choosing one. Try to do some search and verify about the organisation.

    To know more visit

    http://a2zhomebusinesstips3.blogspot.com

    and

    http://a2zhomebusinesstips.blogspot.com

    and

    http://a2zhomebusinesstips4.blogspot.com

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  • 1 decade ago

    I am Mr William Smith of Alan Loan Company.We goverment approved and certified lenders.Our company do offer loans ranging from personal to industrial loans to interested persons or companies who are seeking financial aid at a negotiable interest rates sometimes as low as 5%.Why should you die insilence when you have an opportuinity to clear your dept,start or boost your business with a loan from our company.so apply for a loan now.

    Interested persons should contact us via this email addresses; ideal_loanfinancier@yahoo.com or noble_lenders@myway.com for more information.

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