Personal Finance

Credit card for students

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  • Jun 9th, 2013 9:23 pm
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Deal Guru
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Jan 31, 2007
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Toronto

Credit card for students

I recently switched from td green visa to their new td mastercard cashback or w.e you call it.

I bank with td and been a customer for awhile now, was wondering if there are any other credit card for students

I checked MBNA SC and reward but not sure if i would qualify.

Any ideasÉ

Thanks
[QUOTE]One Man's Trash Is Another Man's Treasure
[/QUOTE]

PSN: Aznkid2000
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Mar 25, 2005
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MBNA is fairly generous, if you have some credit history with TD- at least a few months. Chase is moderately selective and would require 1-2 years of history. You have little chance with Cap One unless you meet the income req.
[OP]
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i had the green for about 2 years now. I got the td mastercard in the mail last week and havent activate it yet. How does td work regarding having two credit card, would they close the green and transfer its history to the new card
[QUOTE]One Man's Trash Is Another Man's Treasure
[/QUOTE]

PSN: Aznkid2000
3000th post Dec 28 07 9:58pm
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Aznkid2000 wrote:
Jun 1st, 2013 10:40 pm
i had the green for about 2 years now. I got the td mastercard in the mail last week and havent activate it yet. How does td work regarding having two credit card, would they close the green and transfer its history to the new card
Was it a transfer or new application? Call and find out. That being said, 2 years of problem free payments should qualify you for MBNA SC.
[OP]
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i assume if its transfer then i am ok but if its new application means i am screwedÉ
[QUOTE]One Man's Trash Is Another Man's Treasure
[/QUOTE]

PSN: Aznkid2000
3000th post Dec 28 07 9:58pm
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Aznkid2000 wrote:
Jun 1st, 2013 11:11 pm
i assume if its transfer then i am ok but if its new application means i am screwedÉ
Not necessarily. A hard hit and new account will lower your score temporary and your average account age. Neither of these two effects will lead to a denial with MBNA per se. Just wait 2-3 months and apply.
[OP]
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i got rejected for the mbna sc, whats the next best thing for cashback? Should i stick with the td mastercard cashback? its only .75% though
[QUOTE]One Man's Trash Is Another Man's Treasure
[/QUOTE]

PSN: Aznkid2000
3000th post Dec 28 07 9:58pm
10,000 post Jan 17 2011 9:45pm
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Mar 25, 2005
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Aznkid2000 wrote:
Jun 6th, 2013 10:39 pm
i got rejected for the mbna sc, whats the next best thing for cashback? Should i stick with the td mastercard cashback? its only .75% though
When did you apply? Did they provide a reason?
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i applied tues/wed and used the automated system, they told me that a letter will come for the reason
[QUOTE]One Man's Trash Is Another Man's Treasure
[/QUOTE]

PSN: Aznkid2000
3000th post Dec 28 07 9:58pm
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Aznkid2000 wrote:
Jun 6th, 2013 10:39 pm
i got rejected for the mbna sc, whats the next best thing for cashback? Should i stick with the td mastercard cashback? its only .75% though
That's not a Smartcash I linked to. That's a student Rewards 1% cash back card with no tiers: Studentawards mbna rewards MasterCard® Credit Card

If you're getting rejected for this card, you're probably screwed for most credit cards.
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Mar 21, 2008
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Calgary
Aznkid2000 wrote:
Jun 6th, 2013 10:39 pm
i got rejected for the mbna sc, whats the next best thing for cashback? Should i stick with the td mastercard cashback? its only .75% though
Well, since you are a student, I'd suggest the L'Earn VISA from Scotiabank. The tiers on this one are very low. 0.25% to $500, 0.5% from $500-1,000, and then 1% from $1,000 upwards. Most other cards don't give you 1% until you get to $3,000.

Also, how often do you go to the movies? Beause Scotiabank has a SCENE VISA that gives you 1 SCENE point/$1 spent and 5 SCENE points / $1 spent at Cineplex and 1,000 points = free movie worth $12.99 so you can get a pretty good return here. It also has a very generous welcome bonus of 4 free movies. Of course, only get this card if you are a moviegoer.

From my experience back when I was in school and also for some of my friends who are currently in school, Scotiabank will more than likely approve you for a credit card.
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i applied for the mbna sc, instead of the student rewards. I honestly go about 1-2month to the mvoies these days.

My monthy cc bill are under 1,000 so i don't thinl the scotiabank one would be better than td card since td gives you .75% on limits.
[QUOTE]One Man's Trash Is Another Man's Treasure
[/QUOTE]

PSN: Aznkid2000
3000th post Dec 28 07 9:58pm
10,000 post Jan 17 2011 9:45pm
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Mar 25, 2005
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Aznkid2000 wrote:
Jun 7th, 2013 12:11 am
i applied tues/wed and used the automated system, they told me that a letter will come for the reason
Why did you apply so soon after opening a new TD account? MBNA already has low credit terms of students, not meeting them in a concern.
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CalgaryMan wrote:
Jun 7th, 2013 9:56 pm
Well, since you are a student, I'd suggest the L'Earn VISA from Scotiabank. The tiers on this one are very low. 0.25% to $500, 0.5% from $500-1,000, and then 1% from $1,000 upwards. Most other cards don't give you 1% until you get to $3,000.

The MBNA Student Rewards I just linked to offers 1% cash back and has no tiers.

Aznkid2000 wrote:
Jun 7th, 2013 10:13 pm
i applied for the mbna sc, instead of the student rewards..
Then you applied for the wrong card. Apply to this one: http://www.mbna.ca/studentAwards_cardList.html
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