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Students are told many things about student credit cards, ranging from ‘don’t get any’ to’ get as many as you can because of the low interest rate’. For an 18 year old with no financial know-how, student credit card debt can be scary.

It’s not ideal to rack up tons debt on your first credit card, but if you go to an expensive school, you might be paying out tuition. It is important to proceed with caution when applying for a credit card, as much of the fine print contains detailed information that, statistically, many students skim over. It is important to get most up to date information out there.

Credit Cards for Bad Credit should be a final resort for college students. Credit cards should only be pursued after all federal loans and scholarships have been exhausted. However, credit cards for people with bad credit score usually have higher interest rates than federal loans.

Eager students should look into a federal PLUS Loan, before taking out a credit card. This type of loan allows the parent to be the co-sign on the card with a fixed interest rate of 7.9%. Besides PLUS Loan, private and federal, student loans come in two options: variable rate or fixed rate. Currently, the fixed rate for a private loan is 7.75%, while the variable rate stands at 3.25%. For a federal Stafford loan, the fixed rate is 3.4%, and 6.8% for the unsubsidized option. However, if you’re leaning towards taking out a personal loan for college, it could mean that your education is too expensive.

Finding a credit card that suits what you can afford, requires attention to your financial needs. In order to choose the best loan, monitor your payment habits, personality, and your future financial goals. Borrowing money with a credit card is just as a big a step as taking out a loan; so ask as many questions as you can.

Just as with loans, Student Credit Cards may come in two forms - have a fixed rate that will allow you to make the same payments over the years, or a variable rate term that means that your payment amount may fluctuate over the years. Variable rate terms are a gamble because it’s all dependent on the market.

The market is changing, as many companies are competing to grab the consumers’ attention. As a result, many lenders are adjusting interest rates to bring in more consumers. So be on a lookout of good deals at