Brian asked in Business & FinanceCredit · 5 years ago

What credit card should I get to start paying back my student loans?


here's the situation

I am about to graduate from undergrad

I do not have any credit

I will be working a full-time job shortly

My loan servicer does accept credit card payments over the phone

I just want to use the credit card to pay back my loans

I do not want any unnecessary fees, high apr, any crazy credit card perks

I want the absolute lowest fees, and I plan to get every payment in ON TIME

I would be using it no longer than 1.5


What particular card should I look into?

I am located in Queens, New York by the way


Also, I have 28,950 student loan debt with my loan servicer being Navient

7 Answers

  • 5 years ago
    Favorite Answer

    There is no credit card that you should get to start paying back your student loans.

    You cannot use a credit card to pay back student loans without any unnecessary fees.

    Also, and more importantly, a student or new graduate who has no credit and has not yet started working usually cannot get a credit card.

  • rpf5
    Lv 7
    5 years ago

    No first time card gives you that. Its doubtful you would get a card with a credit limit high enough. Most first cards have a $300 to $500 credit limit. The plan only works if you can afford it. You don't even have a job yet.

    P.S. You DO have credit. It is called "student loan".

  • 5 years ago

    That's a crazy idea! Any credit card is going to have higher rates than your student loans. Just pay the student loan it will be much cheaper.

  • 5 years ago

    This would only make sense (maybe) if you had a rewards card (which you do not yet qualify for), and paid off the card in full every month. Set up a checking account and have Navient auto-draft every month. No forgotten phone calls, no late payments, etc and a good record of all of your payments. ($29,000 / 18 months = 1600 + per month. If you can sustain that, good for you; but I would back off a bit.}

    >> start a relationship with a credit union, if one is handy. They will have a cc that comes closest to what you want.

    {Those crazy cc perks are worth $1,000 a year (tax-free) to me. I like crazy.}

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  • Anonymous
    5 years ago

    If you're going to pay off your card balance every month (which you should), then the interest rate doesn't matter. Just look for a card with low or no annual fee.

  • Jeff T
    Lv 6
    5 years ago

    Stupid idea. To pay over the phone, use a debit card. With $29,000 in debt that's about a car payment.

  • 5 years ago

    The absolute lowest fees would be abandoning this non-sense plan. If you insist on paying over the phone (You shouldn't) use your debit card.

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