So I recently applied and got approved for a discover student credit card...

So I recently applied and got approved for a discover student credit card. Will this card help me build my credit even though it’s a student credit card? And also just general credit discussion thread because I have no idea how credit really works if anybody wants to talk about it and explain.

i have that same card, bump for knowledge

Discover is good, you'll be able to change it to a regular one after some time.

So since it isn’t a regular one will it still help build my credit?

>you are only credit worthy after making a few banks and credit card companies rich
why is this allowed

There is no "student" credit card. Discover can market it however they want, aka, a card for young people with no credit.

Yes, it will build your credit if you aren't an idiot and max it out.

yea it will build your credit. whatever your credit limit is, use

can you elaborate

So the less of my limit I use the faster my credit is built? That doesn’t make much sense

Yeah it’ll help build your credit. Discover let’s you make payments at any time over a cycle. Use this to your advantage. This credit card replaces your debit card, but before you make a purchase check it and your current balance against mobile banking. It’s not worth paying interest to those jews. After a year you’ll have enough of a credit history to get an entry level Amex or Capital One card with better rewards.

Yes. Discover uses FICO, ur good.

To keep it simple,

Credit card = Bank's money
Debit card = Your money

Always pay with CC

yes, i think it has to do with them viewing you as less potential risk

technically you could max out your card, pay off your current balance before your statement comes in and be fine

It made me put the name of my school in when applying so i think it’s a real student card

if someone hack n uses ur CC, bank money is lost. you can claim , u did not use it and wont be charged.

He wants to keep all his money under a mattress and wonders why nobody would want to make a large loan to someone with no history to go off of.

And will my statement come in on the same day each month? So I just make sure it’s payed off in full before that day comes that I get my statement?

You get your statement weeks before your due date. But you can pay anytime.

the only difference between credit card and 'student credit card' is marketing - it is a regular credit card.

Yes, it will help build your credit as long as you don't have late payments.

Don't be an idiot and carry a balance, pay it off in full each month and you will be fine

You have something like 21 days to make your minimum payment once the statement is received. I'd recommend making use of eStatements and your card provider's mobile app over paper statements.

Okay so I can pay as long as it’s before the due date and it’ll be fine right?

Discover is higher tier than capital one lol

literally every credit card lets you make payments any time also

strategy is, figure out which day is your statement date. that is the day they report your balance to credit bureaus. Make sure before that day you make payment to have only around 18% of the card used. (if its $1000 credit line, have it so the card balance is $180. $500, $90.)

Yeah I saw that discover has an app so I’ll probably download it when I get my card in the mail

the app is nice

Yes.

Okay well they said my student card will have a 1000 dollar limit so I’ll remember to keep it at around 180 on my statement date, thank you for this, I would have had no clue