Are student credit cards a worthwhile option?

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Credit Card Applications » Research » Guides » Building Credit History » Are student credit cards a worthwhile option?

Are student credit cards a worthwhile option?


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

Many people think that credit cards are only for the employed. This is not true, as there are a lot of students whom are not working and does have a credit card. Hence, if you are a student and are on the fence about whether or not a credit card is good for you, you would want to read this article. At the end of it, you might be able to decide whether or not a credit card is good for you. While it might seem a little confusing right now, with all the facts in hand, you might be able to decide whether or not this is right for you.

A student credit card helps to instill a sense of responsibility. Students will be able to properly understand money matters and control their expenses. When you learn about money from an early stage, you are less likely to make mistakes that will severely affect your credit scores. For this reason alone, it might be worthy of considering such credit cards. After all, you will never be able to formally learn about managing credit.

As an additional bonus, you can get to spend money when you want, and not necessarily when you get your paycheck. This is an area that most students get carried away with, and subsequently land in trouble. When there is something that you really want, being sold at a great price, it might make sense to buy it with a credit card and gradually pay it back over time. However, if you don`t plan this right, there are chances that you are going to end up with a lot of debt before you complete your education!

Student credit cards come with great offers like zero interest rates and no additional charges, which make it easy to apply and get one. However, if you apply for these cards, chances of getting rejected are very slim. With proper understanding of credit cards and an understanding about the repercussions, it is possible that students can have a good time when applying and using credit cards.

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.
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