Questions and Answers

Hello,

I was wondering if it makes sense for me, as a university student, to get a credit card. I have little income from my parents and some savings in my bank account. I do not expect to overdraft my bank account as well.

So, as I have expenditures every-day, would it make sense for me to get a credit card (for example: Chase Sapphire Preferred), or not as I have very little expenditures and income?

Thanks

Always good to establish a solid credit history. Additionally, it’s nearly impossible to make hotel and airline reservations without a credit card if you decide to take a trip while still at the University. Even for modest spenders buying groceries, gas and small items add up to points. Plus I just find it easier to avoid cash transactions and banks and pay everything online from an online checking account. Good luck with your studies!

The trick is to get started with a credit history and use it responsibly. I wouldn’t try for a premium card like the CSP right out of the gate since you don’t have a credit history. But go for something like one of the Freedom cards and you can start building your balance of Ultimate Rewards points. You won’t be able to transfer them to frequent flyer programs but once you have a solid history and can apply for the CSP, then you can combine your pools of URs.