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IllIlIIl

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Opening a credit card after applying for student loan?
I was just approved for a student loan, and was looking to open a credit card. I know that for mortgages you shouldn't apply for a new credit card until after closing (the bank monitors new accounts before closing and might rescind the loan). I was wondering if the same is true for student loans. Should I wait until the funds are disbursed to the school? I did have a loan cosigner if it makes any difference.

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Personally, unless you are going to have a job so that you have the additional income to pay a credit card debt, I'd suggest waiting until after you have an established job before getting one. I saw too many students get cards, max them out and end up with major financial issues while still in college.

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It should not be an issue especially since you had a cosigner on the loan, but it really all depends on the student loan lender.

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