Associates is good for college students
Written: May 25 '00
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Product Rating:
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Pros: No BS fees, interest rate is tolerable, good first credit card for students
Cons: slow phone lines, statements are mailed out with only couple days to send in payment
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| stonekoldk's Full Review: Student Visa/Mastercard (The Associates) |
I am in my early 20's and I work full time, and go to college but when I go to apply for credit I am constantly denied, reason no credit history. Well up until early 99, I would be given this reason. I would have a hefty balance in my checking and savings but when I went to apply for a Visa with the bank I work for and have accounts with, they would not even give me a lousy 300 limit Visa card, all because I had no credit.
What I would be offered instead are the awful secured credit card where you send a bank a security deposit and they give you credit based on the amount of deposit, plus charge you 89 dollar fee. I hate fees anywhere so I would never bite. But one day I found the student credit card application from Associates on the web, I filled it out figuring what do I have to lose? Well was I in for a surprise when 2 weeks later I received my first credit card!
Associates graciously started me out with a 500 dollar limit. Plus the best part, there was no annual fee, no processing fee, no application fee, and the interest rate was good (under 16 percent) considering it was my first credit product. They periodically give me credit line increases and one year later they upgraded me to a Gold card! Plus I pay much more than the minimum payment, but I like the security I have knowing that if I am strapped for cash one month, that the minimum is usually 15-30 dollars depending on my balance. I mean I can find 15 dollars. If you do not have a credit history and you are in school, i suggest you start with this card. It is the sensible way to build credit since there are know fees attached to your first bill nor is there a security deposit.
There is one drawback, the 800 number is quite slow to get a rep and then the automated system does not give you much time to enter your card number but its not a huge deal.
Recommended:
Yes
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Epinions.com ID:
stonekoldk
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Member: kevin jameson
Location: Lancaster, PA
Reviews written: 27
Trusted by: 14 members
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