Managing student credit cards wisely for a better future

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 » Research » Guides » Building Credit History » Managing student credit cards wisely for a better future

Managing student credit cards wisely for a better future


Updated: September 28, 2018

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

Managing finances early helps a long way in having a healthy financial habit. Student credit cards make it easier to cultivate healthy financial habits, build credit history which is sound, and learn the dynamics of credit driven economy.

Applying a student credit card can be overwhelming, especially because most credit card companies ask for credit history before approving the credit cards. But there are special student credit cards available in most credit card companies, for half the interest rates and no annual fee. To get the best deal of credit card, a bit of shopping is required since different companies have different schemes. Choosing one with free interest rates, no annual fee and some form of credit card rewards is the best option.

Cash back reward schemes help students in their daily shopping and other needs. Discounts on college related purchases are added perks that help in saving the money. Students must pick credit cards that are student friendly, which means, helping them in save money with every swipe. Another way to save money is to apply for interest free credit cards. Although no credit card has interest free scheme for the entire time, introductory periods may help in saving money and managing the finances. Learning to manage credit available, and paying the bills on time needs some experience, and it helps if there is an interest free period.

To get a student card approved, a valid student ID is required from the university. Applying online also helps because it is easier online. Since they are student credit cards, applying for them is fairly straight forward, with no much paper work. Sometimes, signing up with a co-signer will give better reward schemes and interest rates, which is worth having. Signing up as an add-on card also is a good idea, since it makes the process easier, and helps during the initial learning phase. After building a credit history, a different card can be applied for. It is really easy to build upon a lot of debt if the credit card is not used cautiously. Students need to be especially careful of this situation, since they will be new to this credit system and paying bills. Although having a credit helps in making purchases in advance, buying things that are necessary is important, because paying back the bills may be a challenge otherwise.

Handling debts even before graduating from school is not a very pleasant situation, and credit cards must not be the reason for it.

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

Related Research:

Top 5 Secured Credit Cards: November 2020 – Experts’ Choice

Top 5 Secured Credit Cards: November 2020 – Experts’ Choice

Posted: June 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

Top 5 Soft Pull Credit Cards: November 2020 – Experts’ Choice

Top 5 Soft Pull Credit Cards: November 2020 – Experts’ Choice

Posted: June 3, 2020

When applying for a credit card, you definitely don’t want your credit score to go down. Here, you will find the best credit cards with a soft pull from our partners. An application for such cards won’t make changes to your credit history… Continue reading

Top 5 Store Credit Cards: November 2020 – Experts’ Choice

Top 5 Store Credit Cards: November 2020 – Experts’ Choice

Posted: May 30, 2020

We evaluated store credit cards offered by our partners to find the best store credit cards. They are often loaded with perks that will allow you to save on purchases at your favorite retailer. Plus, many store credit cards are available… Continue reading

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!