Obtaining a student credit card in simple sequential steps

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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

This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

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.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Top 5 Cards for Travel from Our Partners: Spring 2018 – Expert Choice

Top 5 Cards for Travel from Our Partners: Spring 2018 – Expert Choice

Posted: February 12, 2018

Days are getting longer, snow is melting and you already feel the lightest breath of warm breeze on your face - spring is here. Summer holidays are looming, and so is Easter with its shopping. You can lift in spirits and let CreditLand ... Continue reading
Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: February 10, 2018

If you're trying to find the perfect rewards credit card, you might feel like you're drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often ... Continue reading
Price Protection: Credit Cards That Will Refund a Price Drop

Price Protection: Credit Cards That Will Refund a Price Drop

Posted: February 8, 2018

Those who often find themselves buying stuff and then discovering that they could pay less for the same item they've just bought, will appreciate this credit card benefit – price protection. This is the least known and the most neglected ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!