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I have a Bank of America's "Credit Card for Students", but the thing is I graduated from college and I'm not a student anymore. The credit card doesn't have any rewards so I would like to have a credit card with rewards. Does the credit card get upgraded automatically or should I ask them to upgrade it? Or should I open a new credit card?
I have a Bank of America's "Credit Card for Students", but the thing is I graduated from college and I'm not a student anymore. The credit card doesn't have any rewards so I would like to have a credit card with rewards. Does the credit card get upgraded automatically or should I ask them to upgrade it? Or should I open a new credit card?
Thanks!
Or, ... since you are just starting out, you could wisely ask them for a 'debit card' instead and bypass the whole 'buy more than you can actually afford to buy' credit card routine. Have you wondered why those 'generous' credit card companies automatically send all those 'pre-approved credit cards' to 'poor' college students?
Or, ... since you are just starting out, you could wisely ask them for a 'debit card' instead and bypass the whole 'buy more than you can actually afford to buy' credit card routine. Have you wondered why those 'generous' credit card companies automatically send all those 'pre-approved credit cards' to 'poor' college students?
I opened it because it seemed like a good way to build up credit for a student. I've been paying CC bills regularly and have never missed a single payment.. And my credit score very good right now.
I have a Bank of America's "Credit Card for Students", but the thing is I graduated from college and I'm not a student anymore. The credit card doesn't have any rewards so I would like to have a credit card with rewards. Does the credit card get upgraded automatically or should I ask them to upgrade it? Or should I open a new credit card?
Thanks!
Hi NukesRUs--
I can't speak for BofA but I did have a similar issue with American Express just a couple weeks ago - I asked if I could have my account history with them (two and a half years) transferred over to another card that didn't carry a yearly membership fee. They said no, I'd have to apply for a new account - which I wound up doing, because the ding to my credit report won't matter for the foreseeable future, and that $25 a year is eating me alive psychologically (which comes due again in a few months).
In short, probably not - they'll likely want you to apply for a new card. Don't close the old one, just let it rot in the bottom of your fire safe - it'll continue to build credit history for you (until BofA wises up and closes the account on their own accord, but by then you'll have credit history on the new account).
I opened it because it seemed like a good way to build up credit for a student. I've been paying CC bills regularly and have never missed a single payment.. And my credit score very good right now.
If you save and have an emergency fund, you dont need credit. When you decide to buy a house, you simply need to a down payment and any bank will give you a mortgage.
Just hold onto it OP. For what it's worth, i had a wells fargo student card that I was told 100% absolutely would not be upgraded to a non starter card. Two years later they gave me a product change, so it can happen.
Obviously the standard rules apply. The only reason to close a card is because of an annual fee or if you are actually unable to get credit due to having too much available (though that one is a bit more rare).
I think there is surely a option available that the credit card is upgraded automatically.Because one of my friend had his credit card with axis bank and he also got the upgraded services when his student year was completed
I'd suggest calling BofA and seeing what they can do for you. As long as the current card isn't an affinity card, they should be able to change it to a different BofA card. I know Chase did that for us a few years back.
By the way, you obviously use credit wisely. Ignore the people who think it is the root of all evil. Prudent use of credit can put money in your pocket.
Or, ... since you are just starting out, you could wisely ask them for a 'debit card' instead and bypass the whole 'buy more than you can actually afford to buy' credit card routine. Have you wondered why those 'generous' credit card companies automatically send all those 'pre-approved credit cards' to 'poor' college students?
Don't assume that all students buy more than they can afford because they have a credit card. There are parents who talk to their kids and teach them financial responsibility.
Our son got a student credit card last year when he was a senior in high school to start building credit and pays it off in full each month. He uses it for gas, etc.
And to the person who says you don't need credit..... Your credit score can effect your insurance rates and make a difference on what mortgage rate you might get.
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