Where Do I Start?
Dec 11, 2012, 1:12 am
#31
Suspended
Join Date: Dec 2012
Posts: 90
Hello, everyone! I am a new member and all of this information about miles and rewards is pretty overwhelming. I'm a senior in high school, and I love to travel and want to do more.
My problem is that I don't know where the best place to start getting miles is. Should I get a credit card for the bonus? Is there a better way to start wracking(racking?) up miles?
My ultimate goal is a reward flight to either Europe or South America.
Thanks a lot. I hope this is in the right forum.
My problem is that I don't know where the best place to start getting miles is. Should I get a credit card for the bonus? Is there a better way to start wracking(racking?) up miles?
My ultimate goal is a reward flight to either Europe or South America.
Thanks a lot. I hope this is in the right forum.
Sundownerz
The anal retentive travel obsession you see here is largely fueled by most of us who are stuck with it for work. Being stuck at hotels and on places when everyone else is living their life isn't as glamorous as it seems.
Dec 11, 2012, 7:00 am
#32
FlyerTalk Evangelist
Join Date: Sep 2002
Location: Chicagoland, IL, USA
Programs: WN CP, Hilton Diamond
Posts: 14,192
Or is this an Amex thing only? If so, same question for them.
Dec 11, 2012, 7:05 am
#33
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
More like DO NOT use a credit card. Gotta get a leg up on developing a credit history, though. Your miles accumulation can come from other non credit card opportunities.
Unlike most of the gang here I just travel the world for the heck of it and participate in 50+ frequent flyer programs. While alot of folks here get miles for status or to travel, I am more in the game just to run the casino. There are a few of us cardcounter types here.
You do need a job for job history and you do need credit for credit history, but more than that you need to learn how to be independent and crafty, not young and stupid.
Many of us can teach you to fish, but you will drown in the water if you do not pay attention.
Unlike most of the gang here I just travel the world for the heck of it and participate in 50+ frequent flyer programs. While alot of folks here get miles for status or to travel, I am more in the game just to run the casino. There are a few of us cardcounter types here.
You do need a job for job history and you do need credit for credit history, but more than that you need to learn how to be independent and crafty, not young and stupid.
Many of us can teach you to fish, but you will drown in the water if you do not pay attention.
Do NOT get a credit card. The best part of travel isn't the fancy flights. It's going places. You're young, get a job, save up, get the cheapest possible flight to Europe and go backpacking.
The anal retentive travel obsession you see here is largely fueled by most of us who are stuck with it for work. Being stuck at hotels and on places when everyone else is living their life isn't as glamorous as it seems.
The anal retentive travel obsession you see here is largely fueled by most of us who are stuck with it for work. Being stuck at hotels and on places when everyone else is living their life isn't as glamorous as it seems.
Dec 11, 2012, 7:19 am
#34
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
AMEX carries the "member since" over to the next cardholder. That is its advantage. My son has been on my AMEX cards since age 7 and has had a checking account since then as well. Put your son on the AMEX first since they are each assigned their own number and record.
For AA you want to get an AA debit card account with your son at
myufbdirect. When he is 18 you can get him nonAMEX nofee cards by guaranteeing payment. Get the cards, build the credit, but let the cards rot in the vault for the most part.
For AA you want to get an AA debit card account with your son at
myufbdirect. When he is 18 you can get him nonAMEX nofee cards by guaranteeing payment. Get the cards, build the credit, but let the cards rot in the vault for the most part.
Dec 11, 2012, 7:47 am
#35
Join Date: Jan 2012
Location: Indianapolis, IN
Posts: 146
Our kids never abused their CC - they would only charge a few minor things every month (eating with friends, movie tickets, ...). Once you hit 18 you are able to get your annual free credit report from the three agencies. They would be listed as authorized user on the Freedom account back to the date they got it at 13. After they turned 18 and filled out the form from Chase to become joint primary owner, the entry in each credit report changed from "authorized user" to "primary owner", but the original opening date remained. I would think Amex, Citi, and the others would have similar procedures.
Dec 11, 2012, 7:52 am
#36
Join Date: Jan 2012
Location: Indianapolis, IN
Posts: 146
Dec 11, 2012, 1:10 pm
#37
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,099
Very timely information. I just got my 17 year old daughter a Chase high school checking account (no fee). I added my 14 year old son as an AU on my new United CC. Now maybe I'll put both of them on the Amex card and their credit history will pre-date their conception by more than a decade!
Dec 11, 2012, 2:09 pm
#38
Join Date: Apr 2000
Location: Arizona
Programs: MSP raised, Elite since age 17
Posts: 4,723
Sundownerz, I started my travel as a college freshman. I echo toomanybook's words about capitalizing on the time you have! I will venture a guess that you're hoping to see as many places and live as many experiences as possible.... that's the perfect formula for mileage running in its purest form: planning travel based on where deals are found.
Programs: Learn the alliances, and unlike the advice of an earlier poster to sign up for every program, I suggest you pick a couple and focus on them. Alaska Airlines Mileage Plan allows you to pool miles flown on American, Delta, and Alaska. A United or US Airways account can be used for travel on both. United lets you redeem for one way flights, so all else equal, a United account will reap rewards sooner than US Airways. Those 2 programs, United and Alaska, will cover the lion's share of flights in the US. If you fly Southwest, then jump into Rapid Rewards, but understand that because they credit based on dollars spent, you will have to fly many many cheap tickets before you see rewards. By and large, Southwest will probably be one of the less generous reward options for you.
Credit Cards: As for credit cards, I would suggest you ignore all the credit card talk-- while you might end up with 1 or 2 as backups, follow your parents' guidance for building your credit history, and be very careful with your choices. As a traveler, a credit card is handy for renting cars (since most agencies accept credit not debit cards), plus the chargeback protection that credit cards offer in cases of hotel/airline ticket mishaps etc. But this is the extent of thought I suggest you give to credit cards. Now, on to the traveling part!
Multimodal: Understand how intermodal connections work-- there may be times when the cheapest travel leaves a gap in your trip (say, a cheap flight into Ft Lauderdale but you want to see Miami (answer: Tri Rail train!); a cheap flight into Newark then out of JFK). If you become comfortable with connections like this, from air to train to bus, you'll have more flexibility.
Train/Bus: Speaking of intermodal, Amtrak Guest Rewards has award levels that are very competitive: Kansas City to Chicago to San Antonio to El Paso on a coach reward for 5500 miles (as in, 20% of what you need for an award flight). Similarly, Megabus has promotional fares of $1 or Free for its services that extend from KC as far as New York and Boston. With time (which you have!) and planning, you can score some of these. not that you should take the bus 3 days to Boston, but if you find a good price to Providence, then you can hit Boston and New York for a few bucks extra.
Cars: Rental cars can be either a convenient luxury or a necessity, and the biggest hirdle is finding a way to rent when you're under 25. Solution: USAA membership for free allows 18+ to rent from Hertz at competitive prices. Problem solved! Sign up at usaa.com
Evaluating offers: Marketing folks always have something to sell, but it's your responsibility to determine what is best for you. I remember reading an article on how to early free travel with "ordinary purchases you'd make anyway"-- including buying an SUV with cash, and refinancing a $400,000 home. Those aren't very ordinary for me (even as a working professional!) and I doubt they're ordinary for you. Be careful!
Planned travel: This is one of the best opportunities to take steps toward boosting mileage. If you need to fly to/from college, explore ways to maximize mileage..... but always keep an eye on the baseline cost. I've seen people create trips where the baseline ticket is $200, but they add in stops etc and increase mileage by 50% for a price of $300. On a cost per mile basis, they're exactly where they started. I suggest learn the nuances of pricing and fare rules, then learn how to stretch the fare.
Unplanned travel: Stay flexible and watch trends in the airline marketplace, then travel to where the low fares are. If Spirit starts new flights from Kansas City to Vegas, then $10 fares will most likely follow. If you're lucky, you may even see match by some majors, then you can work toward earning mileage for future travel. But keep your eye on the baseline cost; beware of opting for a $50 UA flight over a $10 Spirit flight in order to earn 500 miles.
Study abroad: As an incoming freshman, you have a great opportunity to plan study abroad once or twice during your school career. What better way to explore Europe than to have a homebase there for a semester, with Ryanair-type weekend trips. Even exchanges are available so you continue to pay tuition of your home school (with in-state discount, scholarships/grants etc applied), only that you're physically in another continent!
I hope this offers insight from someone who has been in very similar shoes!
Programs: Learn the alliances, and unlike the advice of an earlier poster to sign up for every program, I suggest you pick a couple and focus on them. Alaska Airlines Mileage Plan allows you to pool miles flown on American, Delta, and Alaska. A United or US Airways account can be used for travel on both. United lets you redeem for one way flights, so all else equal, a United account will reap rewards sooner than US Airways. Those 2 programs, United and Alaska, will cover the lion's share of flights in the US. If you fly Southwest, then jump into Rapid Rewards, but understand that because they credit based on dollars spent, you will have to fly many many cheap tickets before you see rewards. By and large, Southwest will probably be one of the less generous reward options for you.
Credit Cards: As for credit cards, I would suggest you ignore all the credit card talk-- while you might end up with 1 or 2 as backups, follow your parents' guidance for building your credit history, and be very careful with your choices. As a traveler, a credit card is handy for renting cars (since most agencies accept credit not debit cards), plus the chargeback protection that credit cards offer in cases of hotel/airline ticket mishaps etc. But this is the extent of thought I suggest you give to credit cards. Now, on to the traveling part!
Multimodal: Understand how intermodal connections work-- there may be times when the cheapest travel leaves a gap in your trip (say, a cheap flight into Ft Lauderdale but you want to see Miami (answer: Tri Rail train!); a cheap flight into Newark then out of JFK). If you become comfortable with connections like this, from air to train to bus, you'll have more flexibility.
Train/Bus: Speaking of intermodal, Amtrak Guest Rewards has award levels that are very competitive: Kansas City to Chicago to San Antonio to El Paso on a coach reward for 5500 miles (as in, 20% of what you need for an award flight). Similarly, Megabus has promotional fares of $1 or Free for its services that extend from KC as far as New York and Boston. With time (which you have!) and planning, you can score some of these. not that you should take the bus 3 days to Boston, but if you find a good price to Providence, then you can hit Boston and New York for a few bucks extra.
Cars: Rental cars can be either a convenient luxury or a necessity, and the biggest hirdle is finding a way to rent when you're under 25. Solution: USAA membership for free allows 18+ to rent from Hertz at competitive prices. Problem solved! Sign up at usaa.com
Evaluating offers: Marketing folks always have something to sell, but it's your responsibility to determine what is best for you. I remember reading an article on how to early free travel with "ordinary purchases you'd make anyway"-- including buying an SUV with cash, and refinancing a $400,000 home. Those aren't very ordinary for me (even as a working professional!) and I doubt they're ordinary for you. Be careful!
Planned travel: This is one of the best opportunities to take steps toward boosting mileage. If you need to fly to/from college, explore ways to maximize mileage..... but always keep an eye on the baseline cost. I've seen people create trips where the baseline ticket is $200, but they add in stops etc and increase mileage by 50% for a price of $300. On a cost per mile basis, they're exactly where they started. I suggest learn the nuances of pricing and fare rules, then learn how to stretch the fare.
Unplanned travel: Stay flexible and watch trends in the airline marketplace, then travel to where the low fares are. If Spirit starts new flights from Kansas City to Vegas, then $10 fares will most likely follow. If you're lucky, you may even see match by some majors, then you can work toward earning mileage for future travel. But keep your eye on the baseline cost; beware of opting for a $50 UA flight over a $10 Spirit flight in order to earn 500 miles.
Study abroad: As an incoming freshman, you have a great opportunity to plan study abroad once or twice during your school career. What better way to explore Europe than to have a homebase there for a semester, with Ryanair-type weekend trips. Even exchanges are available so you continue to pay tuition of your home school (with in-state discount, scholarships/grants etc applied), only that you're physically in another continent!
I hope this offers insight from someone who has been in very similar shoes!
Dec 11, 2012, 4:21 pm
#39
Original Poster
Join Date: Dec 2012
Posts: 11
Sundownerz, I started my travel as a college freshman. I echo toomanybook's words about capitalizing on the time you have! I will venture a guess that you're hoping to see as many places and live as many experiences as possible.... that's the perfect formula for mileage running in its purest form: planning travel based on where deals are found.
Programs: Learn the alliances, and unlike the advice of an earlier poster to sign up for every program, I suggest you pick a couple and focus on them. Alaska Airlines Mileage Plan allows you to pool miles flown on American, Delta, and Alaska. A United or US Airways account can be used for travel on both. United lets you redeem for one way flights, so all else equal, a United account will reap rewards sooner than US Airways. Those 2 programs, United and Alaska, will cover the lion's share of flights in the US. If you fly Southwest, then jump into Rapid Rewards, but understand that because they credit based on dollars spent, you will have to fly many many cheap tickets before you see rewards. By and large, Southwest will probably be one of the less generous reward options for you.
Credit Cards: As for credit cards, I would suggest you ignore all the credit card talk-- while you might end up with 1 or 2 as backups, follow your parents' guidance for building your credit history, and be very careful with your choices. As a traveler, a credit card is handy for renting cars (since most agencies accept credit not debit cards), plus the chargeback protection that credit cards offer in cases of hotel/airline ticket mishaps etc. But this is the extent of thought I suggest you give to credit cards. Now, on to the traveling part!
Multimodal: Understand how intermodal connections work-- there may be times when the cheapest travel leaves a gap in your trip (say, a cheap flight into Ft Lauderdale but you want to see Miami (answer: Tri Rail train!); a cheap flight into Newark then out of JFK). If you become comfortable with connections like this, from air to train to bus, you'll have more flexibility.
Train/Bus: Speaking of intermodal, Amtrak Guest Rewards has award levels that are very competitive: Kansas City to Chicago to San Antonio to El Paso on a coach reward for 5500 miles (as in, 20% of what you need for an award flight). Similarly, Megabus has promotional fares of $1 or Free for its services that extend from KC as far as New York and Boston. With time (which you have!) and planning, you can score some of these. not that you should take the bus 3 days to Boston, but if you find a good price to Providence, then you can hit Boston and New York for a few bucks extra.
Cars: Rental cars can be either a convenient luxury or a necessity, and the biggest hirdle is finding a way to rent when you're under 25. Solution: USAA membership for free allows 18+ to rent from Hertz at competitive prices. Problem solved! Sign up at usaa.com
Evaluating offers: Marketing folks always have something to sell, but it's your responsibility to determine what is best for you. I remember reading an article on how to early free travel with "ordinary purchases you'd make anyway"-- including buying an SUV with cash, and refinancing a $400,000 home. Those aren't very ordinary for me (even as a working professional!) and I doubt they're ordinary for you. Be careful!
Planned travel: This is one of the best opportunities to take steps toward boosting mileage. If you need to fly to/from college, explore ways to maximize mileage..... but always keep an eye on the baseline cost. I've seen people create trips where the baseline ticket is $200, but they add in stops etc and increase mileage by 50% for a price of $300. On a cost per mile basis, they're exactly where they started. I suggest learn the nuances of pricing and fare rules, then learn how to stretch the fare.
Unplanned travel: Stay flexible and watch trends in the airline marketplace, then travel to where the low fares are. If Spirit starts new flights from Kansas City to Vegas, then $10 fares will most likely follow. If you're lucky, you may even see match by some majors, then you can work toward earning mileage for future travel. But keep your eye on the baseline cost; beware of opting for a $50 UA flight over a $10 Spirit flight in order to earn 500 miles.
Study abroad: As an incoming freshman, you have a great opportunity to plan study abroad once or twice during your school career. What better way to explore Europe than to have a homebase there for a semester, with Ryanair-type weekend trips. Even exchanges are available so you continue to pay tuition of your home school (with in-state discount, scholarships/grants etc applied), only that you're physically in another continent!
I hope this offers insight from someone who has been in very similar shoes!
Programs: Learn the alliances, and unlike the advice of an earlier poster to sign up for every program, I suggest you pick a couple and focus on them. Alaska Airlines Mileage Plan allows you to pool miles flown on American, Delta, and Alaska. A United or US Airways account can be used for travel on both. United lets you redeem for one way flights, so all else equal, a United account will reap rewards sooner than US Airways. Those 2 programs, United and Alaska, will cover the lion's share of flights in the US. If you fly Southwest, then jump into Rapid Rewards, but understand that because they credit based on dollars spent, you will have to fly many many cheap tickets before you see rewards. By and large, Southwest will probably be one of the less generous reward options for you.
Credit Cards: As for credit cards, I would suggest you ignore all the credit card talk-- while you might end up with 1 or 2 as backups, follow your parents' guidance for building your credit history, and be very careful with your choices. As a traveler, a credit card is handy for renting cars (since most agencies accept credit not debit cards), plus the chargeback protection that credit cards offer in cases of hotel/airline ticket mishaps etc. But this is the extent of thought I suggest you give to credit cards. Now, on to the traveling part!
Multimodal: Understand how intermodal connections work-- there may be times when the cheapest travel leaves a gap in your trip (say, a cheap flight into Ft Lauderdale but you want to see Miami (answer: Tri Rail train!); a cheap flight into Newark then out of JFK). If you become comfortable with connections like this, from air to train to bus, you'll have more flexibility.
Train/Bus: Speaking of intermodal, Amtrak Guest Rewards has award levels that are very competitive: Kansas City to Chicago to San Antonio to El Paso on a coach reward for 5500 miles (as in, 20% of what you need for an award flight). Similarly, Megabus has promotional fares of $1 or Free for its services that extend from KC as far as New York and Boston. With time (which you have!) and planning, you can score some of these. not that you should take the bus 3 days to Boston, but if you find a good price to Providence, then you can hit Boston and New York for a few bucks extra.
Cars: Rental cars can be either a convenient luxury or a necessity, and the biggest hirdle is finding a way to rent when you're under 25. Solution: USAA membership for free allows 18+ to rent from Hertz at competitive prices. Problem solved! Sign up at usaa.com
Evaluating offers: Marketing folks always have something to sell, but it's your responsibility to determine what is best for you. I remember reading an article on how to early free travel with "ordinary purchases you'd make anyway"-- including buying an SUV with cash, and refinancing a $400,000 home. Those aren't very ordinary for me (even as a working professional!) and I doubt they're ordinary for you. Be careful!
Planned travel: This is one of the best opportunities to take steps toward boosting mileage. If you need to fly to/from college, explore ways to maximize mileage..... but always keep an eye on the baseline cost. I've seen people create trips where the baseline ticket is $200, but they add in stops etc and increase mileage by 50% for a price of $300. On a cost per mile basis, they're exactly where they started. I suggest learn the nuances of pricing and fare rules, then learn how to stretch the fare.
Unplanned travel: Stay flexible and watch trends in the airline marketplace, then travel to where the low fares are. If Spirit starts new flights from Kansas City to Vegas, then $10 fares will most likely follow. If you're lucky, you may even see match by some majors, then you can work toward earning mileage for future travel. But keep your eye on the baseline cost; beware of opting for a $50 UA flight over a $10 Spirit flight in order to earn 500 miles.
Study abroad: As an incoming freshman, you have a great opportunity to plan study abroad once or twice during your school career. What better way to explore Europe than to have a homebase there for a semester, with Ryanair-type weekend trips. Even exchanges are available so you continue to pay tuition of your home school (with in-state discount, scholarships/grants etc applied), only that you're physically in another continent!
I hope this offers insight from someone who has been in very similar shoes!
Dec 11, 2012, 4:49 pm
#40
Join Date: May 2009
Location: HNL
Programs: HA, DL, UA, PC Gold, A/club Plat, HH Gold, Hyatt Pl
Posts: 1,461
my two cents...start with one card....and hopefully it be a free amex..start building your credit history...if its a free card this one amex will stay on your credit report forever
Dec 12, 2012, 6:55 am
#41
Join Date: Mar 2004
Location: MSY
Programs: NW Gold and now Delta Gold
Posts: 3,072
I'm glad particlemn has spoken up with the voice of common sense. It makes no sense to put in money chasing miles as a top priority when there are so many better ways for a young person to get travel.
IMHO the FIRST priority should be to chase jobs, hustles, scholarships, heck, even dog walking and baby sitting gigs, to get CASH. I've never met anyone who regretted not having student loans when they get out of college. I've met many people, including people who attended top schools only to find out LOTS of people attend top schools, who deeply regret the student loan. At your age, I had zero interest in chasing credit cards and a great deal of interest in chasing ways to get extra money. Student loan is the only debt I know of that can't be cancelled by bankruptcy, even if you don't finish school and even if you don't get a job that pays much or anything more than it would have paid anyway -- in other words, it is the ONLY business risk you will ever take that if you learn you made a mistake, you still have to pay for it.
If you want the freedom to travel the world, follow partclemn's intelligent advice. You will have limited time after your studies in high school and college. Spend that limited time getting CASH not miles. If there is still time left over, then you can worry about juggling credit cards as well.
Yes, we all know that what has worked for SOME young people is to get the parents to co-sign the cards, enjoy the spend, and then abandon the debt, which means the parents are forced to pay. While this does have a positive financial expectation for you, I myself consider it a dishonorable technique. My personal belief is that I will not co-sign a card nor will I accept a co-signed card. But that's me. If you want free, at your age, the easiest way is to get your parents to pay for the trip. The second easiest way is to get scholarships that give trips as bonuses. The third way is the part time job and paying for one's own cheaper trips. I tried all of these at your age, and you should too. #2 is particularly recommended by my hubby, who actually had a 10 day trip paid for by the Air Force for a scholarship he won, which included a visit to see the space shuttle. But even I won a free (airfare included) trip for myself (and my parents) and no one would accuse peachfront of being the world's most dedicated high schooler.
Credit cards will always be there, but there are scholarships and bonuses from other sources for good students that will FAR surpass any credit card offer. You should grab those opportunities while you're still young, because most of them will NOT be there for returning students.
Good Luck.
IMHO the FIRST priority should be to chase jobs, hustles, scholarships, heck, even dog walking and baby sitting gigs, to get CASH. I've never met anyone who regretted not having student loans when they get out of college. I've met many people, including people who attended top schools only to find out LOTS of people attend top schools, who deeply regret the student loan. At your age, I had zero interest in chasing credit cards and a great deal of interest in chasing ways to get extra money. Student loan is the only debt I know of that can't be cancelled by bankruptcy, even if you don't finish school and even if you don't get a job that pays much or anything more than it would have paid anyway -- in other words, it is the ONLY business risk you will ever take that if you learn you made a mistake, you still have to pay for it.
If you want the freedom to travel the world, follow partclemn's intelligent advice. You will have limited time after your studies in high school and college. Spend that limited time getting CASH not miles. If there is still time left over, then you can worry about juggling credit cards as well.
Yes, we all know that what has worked for SOME young people is to get the parents to co-sign the cards, enjoy the spend, and then abandon the debt, which means the parents are forced to pay. While this does have a positive financial expectation for you, I myself consider it a dishonorable technique. My personal belief is that I will not co-sign a card nor will I accept a co-signed card. But that's me. If you want free, at your age, the easiest way is to get your parents to pay for the trip. The second easiest way is to get scholarships that give trips as bonuses. The third way is the part time job and paying for one's own cheaper trips. I tried all of these at your age, and you should too. #2 is particularly recommended by my hubby, who actually had a 10 day trip paid for by the Air Force for a scholarship he won, which included a visit to see the space shuttle. But even I won a free (airfare included) trip for myself (and my parents) and no one would accuse peachfront of being the world's most dedicated high schooler.
Credit cards will always be there, but there are scholarships and bonuses from other sources for good students that will FAR surpass any credit card offer. You should grab those opportunities while you're still young, because most of them will NOT be there for returning students.
Good Luck.
i may be in the minority here, but i would focus all your energy on limiting the amount of student loans you take and less energy on collecting some points. you state student loans incoming like its no big deal, many people also think making their min payments on a credit card and paying alot of interest is no big deal, its beacuse of the general populations attitiudes like this that the banks are so profitable and they want to entice new customers with these great sign up bonuses. many of us here are able to ake advantage becasue we have steered clear of making interst payments. you might be better off as a student to focus on limiting what you spend, finding part time work, and using some of that cash to both take fewer loans and pay for cheap tickets to your desired destination.
Dec 12, 2012, 8:18 am
#42
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Credit unions are better for that. And once the kiddo is carded, credit unions are profitable. When +18 and Chase carded, Zontar, your kiddos really need to check in with the Men in Black.
Dec 12, 2012, 9:06 am
#43
Join Date: Nov 2012
Posts: 3
I skimmed through here, and I'm sure it was said, but if you get a card (emphasis on the singular), make sure it doesn't carry an annual fee. Length of open credit accounts is part of the algorithm of your credit score, so if you have a card with no annual fee, you can leave it open forever.
Think of it as laying the foundation for you to play this game later.
I like the Chase Freedom as a first card, but only when you're ready.
Think of it as laying the foundation for you to play this game later.
I like the Chase Freedom as a first card, but only when you're ready.
Dec 12, 2012, 9:42 am
#44
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Why not consider running the 50 states first? That's a good starter goal. Set up a bucket list of goals and then let this flock of birds vet them out as far as doability.
Dec 12, 2012, 10:08 am
#45
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Heed the advice on student loans. The price of college in overinflated by the availability of cheap credit. The value of college is overestimated as businesses are bringing in foriegn nationals because they are cheaper than paying debt encumbered domestic college graduates. Each online degree programs also erodes the value of a debt encumbered bricks and mortar degree. That is reality. The value of bricks and mortar is only in contacts and connections. A fancy degree in a frame looks downright ugly on a wall papered in debt and that material you learned in college has the shelf life of an opened can of tuna. The ability to study, accumulate and use knowledge, and apply knowledge to solving problems is the only long term take away from your college classes.
All this said, I just want to say one word to you – just one word. Plastics. Start the plastic credit card history. Learn to buy discounted plastic gift cards with your cash to cut expenses 5-15%. Run your cash spend through a plastic debit card that gives you a kickback.
All this said, I just want to say one word to you – just one word. Plastics. Start the plastic credit card history. Learn to buy discounted plastic gift cards with your cash to cut expenses 5-15%. Run your cash spend through a plastic debit card that gives you a kickback.
I'm glad particlemn has spoken up with the voice of common sense. It makes no sense to put in money chasing miles as a top priority when there are so many better ways for a young person to get travel.
IMHO the FIRST priority should be to chase jobs, hustles, scholarships, heck, even dog walking and baby sitting gigs, to get CASH. I've never met anyone who regretted not having student loans when they get out of college. I've met many people, including people who attended top schools only to find out LOTS of people attend top schools, who deeply regret the student loan. At your age, I had zero interest in chasing credit cards and a great deal of interest in chasing ways to get extra money. Student loan is the only debt I know of that can't be cancelled by bankruptcy, even if you don't finish school and even if you don't get a job that pays much or anything more than it would have paid anyway -- in other words, it is the ONLY business risk you will ever take that if you learn you made a mistake, you still have to pay for it.
If you want the freedom to travel the world, follow partclemn's intelligent advice. You will have limited time after your studies in high school and college. Spend that limited time getting CASH not miles. If there is still time left over, then you can worry about juggling credit cards as well.
Yes, we all know that what has worked for SOME young people is to get the parents to co-sign the cards, enjoy the spend, and then abandon the debt, which means the parents are forced to pay. While this does have a positive financial expectation for you, I myself consider it a dishonorable technique. My personal belief is that I will not co-sign a card nor will I accept a co-signed card. But that's me. If you want free, at your age, the easiest way is to get your parents to pay for the trip. The second easiest way is to get scholarships that give trips as bonuses. The third way is the part time job and paying for one's own cheaper trips. I tried all of these at your age, and you should too. #2 is particularly recommended by my hubby, who actually had a 10 day trip paid for by the Air Force for a scholarship he won, which included a visit to see the space shuttle. But even I won a free (airfare included) trip for myself (and my parents) and no one would accuse peachfront of being the world's most dedicated high schooler.
Credit cards will always be there, but there are scholarships and bonuses from other sources for good students that will FAR surpass any credit card offer. You should grab those opportunities while you're still young, because most of them will NOT be there for returning students.
Good Luck.
IMHO the FIRST priority should be to chase jobs, hustles, scholarships, heck, even dog walking and baby sitting gigs, to get CASH. I've never met anyone who regretted not having student loans when they get out of college. I've met many people, including people who attended top schools only to find out LOTS of people attend top schools, who deeply regret the student loan. At your age, I had zero interest in chasing credit cards and a great deal of interest in chasing ways to get extra money. Student loan is the only debt I know of that can't be cancelled by bankruptcy, even if you don't finish school and even if you don't get a job that pays much or anything more than it would have paid anyway -- in other words, it is the ONLY business risk you will ever take that if you learn you made a mistake, you still have to pay for it.
If you want the freedom to travel the world, follow partclemn's intelligent advice. You will have limited time after your studies in high school and college. Spend that limited time getting CASH not miles. If there is still time left over, then you can worry about juggling credit cards as well.
Yes, we all know that what has worked for SOME young people is to get the parents to co-sign the cards, enjoy the spend, and then abandon the debt, which means the parents are forced to pay. While this does have a positive financial expectation for you, I myself consider it a dishonorable technique. My personal belief is that I will not co-sign a card nor will I accept a co-signed card. But that's me. If you want free, at your age, the easiest way is to get your parents to pay for the trip. The second easiest way is to get scholarships that give trips as bonuses. The third way is the part time job and paying for one's own cheaper trips. I tried all of these at your age, and you should too. #2 is particularly recommended by my hubby, who actually had a 10 day trip paid for by the Air Force for a scholarship he won, which included a visit to see the space shuttle. But even I won a free (airfare included) trip for myself (and my parents) and no one would accuse peachfront of being the world's most dedicated high schooler.
Credit cards will always be there, but there are scholarships and bonuses from other sources for good students that will FAR surpass any credit card offer. You should grab those opportunities while you're still young, because most of them will NOT be there for returning students.
Good Luck.