Credit Card Question & Answer
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Credit Card Applications » Questions » User Questions » Student Credit Cards » I’m a 19-year-old student. I have no credit. I want to establish and begin building my ...

I’m a 19-year-old student. I have no credit. I want to establish and begin building my credit profile. What is the first step I should take? I have a Wells Fargo debit card. Should I apply for a credit card through my bank or can I apply for any card? Also, how exactly do credit cards work when I buy things? I assume that once you apply and receive your card, if you use it you will receive a bill in the mail the following month and then you send off a check or cash to the credit issuer. Is that right? I’m a little frustrated attempting to understand the rules and what to look for in the card agreements.

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Leo Zhu

You can apply for any student credit card. You don’t need to go through the issuer you have a bank account with. Before you apply though, check your credit reports. Make sure any information on them is accurate. If you find any errors, dispute them with the credit bureau.

Once you get your card, you can use it for purchases and for paying bills. You will get a statement of how much you owe once your billing cycle closes. If you pay off the card balance in full by the due date which is generally a few weeks later, you won’t pay any interest. The due date is determined by the credit card issuer depending on the billing cycle. You will receive a credit card statement every month you have any activity on the card.

The bill will also tell you the total credit limit, available credit, card balance, minimum payment, payment due date, transactions summary, and some other information such as how long it will take to pay off your bill if you just make minimum payments.

You can access your credit card bill online to pay it. You can also set automatic payments online at the issuer’s web site which will be deducted from your checking account every month if you provide your bank account info. If you do not want to pay electronically, you can send the bank or credit card issuer a check.

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