FOX 32 NEWS - A new school year brings a new generation of college freshmen, and more students are shying away from credit cards.
FOX 32 has a little credit card 101 to avoid a credit 911. The assignment: find the best credit card for a college kid.
Meet your "teaching assistant" - Nerdwallet.com's credit card expert.
"Our founder took a list of every credit card he could find on the market and made a data base out of them because he wanted to rank and compare all of them,” said Sean McQuay.
They broke it down into categories: the best credit cards for social butterflies, credit newbies, the responsible student and the not so responsible.
Incoming freshman that FOX 32 spoke to are well aware of how important that is, because they grew up with the reality of recession, which is why many of them are choosing not to get a credit card.
Those who do get a card do it to establish credit, which experts say is very important.
Co-signing with a parent is a good way to qualify.
So that brings us to our rankings. For the social butterfly, Nerdwallet recommends Citibank.
For responsible students, the Journey Rewards card from Capital One is recommended.
And for those who either have no established credit or need help making sure they don't overspend, the US Bank secured card is recommended.
Secured cards require an initial deposit from the user as insurance.
Experts say even if students get a credit card, it needs to be treated like a debit card with the balance due never exceeding the balance in their checking accounts.
Under the Credit Card Act of 2009, credit card companies can only offer cards to students under 21 if they can prove their income.