Questions to Ask before Getting a Student Credit Card

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 » Questions to Ask before Getting a Student Credit Card

Questions to Ask before Getting a Student Credit Card


Updated: December 26, 2012

By
Add to Favorites:

Students usually mismanage the use of their credit cards especially when it is their first credit card. The common mistake students make when they apply for a credit card is that they don't even check the card's features and policies very well. They just go ahead and apply with the company that gives then the first offer. A wise shopper is one that compares and research first before finally going for something. This should be the same attitude applied when looking for a credit card.

For you to have the right credit card for you here are some questions that you need to ask yourself and the company before filing your application.

How much would be the annual parentage rate? While a lot of credit card providers, offer zero percent interest rate, a lot of students find it weird to find remaining balance even after payment. This could be a sad fast regarding zero percent interest student cards. Better yet, go for credit cards with low interest. Zero percent interest cards usually have some hidden charges on them. You may enjoy 0% for the first six months but be burdened with a lot of charges you never know how they're computed. Most student credit cards carry 12-18% interest so you may want to do a lot of thinking before getting your very first card.

Is there an introductory offer? Most banks have it. It is usually zero percent but that would only last for half a year. Some banks also have some offers regarding balance transfer, cash advance or purchase interest.  Always remember the end of the introductory period so you would know how to cut off on your spending and won't be surprised when you receive your bill.

Does the card offer some perks or rewards? Most credit cards do nowadays. It is their way of luring the consumers use their card. Different programs like cash back, cash rebates, rewards points or frequent flier are the most common perks. Go for the card which perfectly fits your interest.

What are the penalty fees? This is as important as knowing the interest rate. Sometimes no matter how hard we would like to pay on time, there would be some emergencies that could delay our payment. Having a heads up on the penalty fees would make you more prepared on the consequences of delayed or non-payment.

When you think that you've found the right card for you, make it a point to be the wisest cardholder you could be.

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

Related Research:

Affirm: A ‘Friendly’ Credit Alternative

Affirm: A ‘Friendly’ Credit Alternative

By Angela Rose, Posted: April 5, 2017

In 1789, Benjamin Franklin wrote, "In this world nothing can be said to be certain, except death and taxes." His statement holds true even today - especially when it comes to personal finance tools such as credit cards. Continue reading
5 Reasons to Get the Capital One Venture Miles Rewards Card

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading
Credit Card Tips For Holiday Shopping 2016

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading