College students under twenty one years of age can`t get easy credits in the present time.
In the year of 2010 Regulations have been issued which barred credit card companies from luring college students into using credit cards. At present there are only three credit card companies who plan to sell their credit cards to students. The prerequisite for obtaining this card is fair, good or excellent credit record.
Students those who want to use credit card will have to show that they have regular income and they need to prove it. If they can`t do it, at least they need one guarantor. With the implementation of these rules pre paid cards are used by students more at present which helps to keep their expenses under control.
They have to shell out money for enjoying the service of a pre-paid card but it does not lead them to huge amount of debts of interest charges and does not jeopardize their credit rating.
If a student can use unsecured credit card responsibly it allows to the student to establish an excellent credit reputation.
Before issuing a credit card to a student Citi Forward asks an excellent credit record from the student. Students who can qualify are eligible for extra bonus points from their scheme when they pay off their credit card bills timely and take their account statements which are not in paper.
There are couples of other credit cards offered by Citi to the students which demand an excellent credit history of the students. These cards are namely the Citi Dividend Visa and Citi mtv Platinum Visa. All of these three credit cards come with an offer of zero percent APR on purchases for first seven months before getting back to their standard rates which are variable.
The rates of interest vary depending upon the credit track record of a student. It ranges in between twelve decimal nine nine percent and twenty one decimal nine nine percent.
Each of these credit cards offer rewards program to students but students should go through the full details rather than reading the advertised headlines. For instance Citi dividend card`s cash back offer of five percent is available just for the first six months and after that it comes down to just one percent.
There are other credit card companies like Capital One and Discover who offer credit cards to students with different APR`s and various rewards schemes.
But never the less students should be careful in handling a credit card or else they might fall under huge amount of debts which has happened often in the past.