Obtaining a student credit card in simple sequential steps

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Building Credit History » Obtaining a student credit card in simple sequential steps

Obtaining a student credit card in simple sequential steps


Updated: December 26, 2012

Add to Favorites:

Student credit cards are a relatively new commodity so to speak. It is a new concept for students to be issued credit cards. But lately, a lot of banks are directly approaching students at their college campuses in order to convince them to buy credit cards from them. This sort of direct marketing along with the fact that a lot of rewards and freebies are being doled out means that students are finding it really easy to own and use a credit card.

If you are a United States citizen, you can easily find someone to co-sign on your credit card. In most cases, it will be your parents who will already have a robust credit history to their name. But if you are an international student, it will take you some time to establish a credit history. And unless your parents are working in the country, you are going to find it tough to get a credit card as soon as you land in the country. In such cases, the first step to take is to get a letter from your college and open a bank account with your local bank. You can open one or more extra accounts with other banks in order to better manage your finances. Opening accounts is the first way to start establishing a record with the banks and this will go a long way in the future.

After around six months of doing this, you can start applying for credit cards independently. Start out by going for banks which are known to give out cards to newbie`s. For starters, the terms and conditions will never be favorable. Usually the interest late will be very high. And you will also not get a very high credit limit. This is only right because if you have a high credit limit, you might end up splurging and you will most probably not be able to pay it back as a student. And also the high interest rate on borrowed funds should discourage you from making late payments.

Your first criteria should be to build your credit history. You can do this by making day to day purchases using your credit card and paying it back as soon as possible. The best way is to connect the credit account to the bank account so that you can directly deposit funds from your savings account onto the credit account. This will save you the hassles of having to mail out checks to the bank everytime you get a statement from them. Try to do everything electronically as it will save you time and there will be lesser errors both on your part and also from the banks side.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

Posted: June 21, 2017

Whether you are married or not, we all agree that marriage is incredibly important for a person. It signifies the beginning of two people as a team, as a family, of a long commitment. It is a newly born union and the sign of your ... Continue reading
How To Choose The Best Credit Card For Everyday Spending

How To Choose The Best Credit Card For Everyday Spending

Posted: June 21, 2017

When you reach for your wallet to pay for groceries, gas, dinner out, or any other everyday purchase, are you searching for cash, a debit card, or a credit card? Many people hesitate to charge this type of everyday spending to a credit ... Continue reading
How the Fed Rate Rise Impacts Credit Cards

How the Fed Rate Rise Impacts Credit Cards

Posted: June 20, 2017

Recently, the Federal Reserve hiked its benchmark rate by a quarter percentage point, as a result, you could see a rise of the interest rates on your credit cards by 0.25%. That was the first hike of the key rate in 2017 and the Fed ... Continue reading