Hi Leo. My name is Alex. I am in a bit of a jam. I am... - Student Credit Cards Questions

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 » Questions » User Questions » Student Credit Cards » Hi Leo. My name is Alex. I am in a bit of a jam. I am trying to go to college and I am still...

Hi Leo. My name is Alex. I am in a bit of a jam. I am trying to go to college and I am still short of money. I am also trying to enroll in the spring semester which starts in 2 days. What is the limit for the cash rewards card? And if approved how fast can I start making payments?

Answered on | Updated on January 28th, 2013
The content is accurate at the time of publication and is subject to change.

The credit card limit depends on your annual income and creditworthiness. Usually banks look at an applicant’s credit history to determine the consumer’s creditworthiness. But since you have no credit history the main factor will be your annual income. No one can tell you in advance what decision the bank will make, but the higher your income is, the higher your limit will be.

With a cash back rewards card you can get the usual 1% cash back on all purchases and maybe more in particular categories depending on the credit issuer. For example, Discover it® Student Cash Back offers 1% cash back on all purchases and 5% cash back on particular purchases that change every quarter. Also, the card has low APRs and does not charge an annual fee.

If you are approved for a card, it may take a week or more for the card to arrive in mail. As you activate the card it is ready for use. All in all, it can take up to 30 business days to get approved and receive your card.

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.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants or Amazon.com up to the quarterly maximum each time you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Fair Credit
1% unlimited cashback
Limited/No Credit
Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases - automatically.
Fair Credit

Other Questions in
Student Credit Cards

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!