Picking the right student credit cards

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Credit Card Applications » Research » Guides » Building Credit History » Picking the right student credit cards

Picking the right student credit cards


Updated: December 26, 2012

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Every student wishes to have financial independence and one of the best ways to achieve this is of course by having a student credit card for yourself. It is not possible for all students nowadays to easily get a credit card as the new rules have made thins rather more difficult but there is of course a loophole to every rule. Students under 21 may not get a credit card in their name unless they can prove eligibility and employment that shows they can pay for it on their own. With getting a first card being really difficult, this rule adds to the difficulties involved in acquiring the first card on your own. Earlier the credit card market used to target the college student population with the aim of wanting to make sure they get their money's worth. At that age most students would want and like the idea of having money to spend as they like.

It is important when considering a student credit card to make the decision very carefully based on careful study of the market and the cards that are available to students. There are a lot of different kinds of cards in the market including those that have different rates of interest, different reward programs and different annual fees. Make sure you choose one that you can really afford. Also it is important to learn to be responsible when using your card. Spending recklessly on parties and goodies can feel good but it will be overwhelming when a large bill lands at your door and you do not have enough to pay for it. It is important to close the outstanding amounts quickly every time. That way you will not have too much money pending and you can ensure things are going right.

The sooner you have things planned out with regard to student credit cards, the better it is, if you can get someone to co-sign a card for you despite being a minor you can get a card much easily and a good one at that. However co-signing a card means you are responsible for it, don't let your elders down by misusing it and having to have them bail you out of the large bills that accumulate. This is another reason for the new credit card rule to come into play; many unwary students have ended up charging to their cards more often than not and then finding themselves not having enough cash to pay their dues.

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.
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