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:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... 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!