The Perks of Student Credit Cards

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Credit Card Applications » Research » Guides » Building Credit History » The Perks of Student Credit Cards

The Perks of Student Credit Cards


Updated: December 26, 2012

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Credit cards have become an essential part in most people's lives. There are people who cannot live without their cards. Even college students can enjoy the benefits that these plastic cards can offer. student credit cards are different, however, compared to a regular card, as these are designed to fit the lifestyle and the paying capabilities of a student. They are known to have limited options to pay, as they will have to call their parents or would have a part-time job for extra money. But it does not help much if you have to make emergency purchases. Students are confronted with daily expenses related to the whole college experience and can be difficult for someone away from home. Books, projects, clothes, food, occasional parties, and supplies are only some of the expenses any regular college student may face. These cards can provide perks to help the students enjoy their college experience and financial independence.

Credit institutions have designed special programs that are rewarding and favorable for students. Most student credit cards do not charge annual fees, unlike regular cards. They may also offer cashback rewards and freebies for using the card when making purchases. Some students may get lucky if they have cards that offer travel rewards points that they can accumulate to cover the cost of their trips back home or maybe a vacation somewhere with friends.

Student credit cards are easy to apply for, especially if the parents have good credit history. Banks would require a student to present his or her student ID and they might also do a credit background check to determine the source of income. If the parents are willing to pay for the credit bill, then the student is not required to have a part-time job to get approved. The minimal limit that a student can get will range from $200 to $500, which is within the means of any student.

Student credit cards will help the student create his to her own credit history from scratch. This will teach them how to be responsible with their finances and should only spend on necessary items. It will also teach them the value of paying their debts on time so they can avoid higher interest rates and they can improve their credit ranking as well. Responsible management of finances will prepare the student for the life they will soon have after college. After all, it would help any student prepare for life outside the academe as early as possible.

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