Simple factors that help choose the right student credit cards


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. 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. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Building Credit History » Simple factors that help choose the right student credit cards

Simple factors that help choose the right student credit cards

Updated: December 26, 2012

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

Finding the right student credit card is indeed a challenge today. It is a time consuming task to sift through the various offers and decide the student credit card that is best for your needs. Added to this, there are certain rules of the CARD Act that you need to understand before you apply for the student credit card. According to one of the rules of this Act, banks cannot give out credit cards to students if they do not have a co-signer or cannot produce sufficient proof of income. If you manage to meet either of the two criteria, then here are some factors to consider while choosing the right credit card.

The credit limit

Since the student credit card is the first credit card for most people, banks do not offer a high credit limit on these cards. These cards are to help you establish a good credit history without getting into debt traps. The credit limit offered varies from one bank to the other; hence, find out the maximum limit you will be eligible for.

Rate of interest

The rate of interest on student credit cards is slightly on the higher side. This is because students are considered to be high risk applicants since they do not have a credit history to reveal their repayment ability. Ensure you choose cards that offer the best interest rates and optimum credit limit. You can get the rates lowered over a certain period of time if you manage the card well and make your payments on time.

Annual fees and other charges

Most of the student credit cards today have annual fees associated to them and most of the time, these fees are pretty high. However, there are banks that do offer these cards without any annual fees. While such offers are tough to find, it is worth investing time to learn more about such cards and apply for them since they will help you save up a significant amount of money. Also, find out about the various other fees and financial charges that may be levied on your card at a later point of time.

Rewards offer

Almost all student credit cards offer rewards programs to card holders. Ensure you choose the card with rewards that will be of use to you. A card that offers cash back or discounts at various stores would be beneficial. Do not opt for cards with fancy rewards since the charges associated with such cards are always high.

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:

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Posted: February 10, 2021

Citi, a advertising partner, offers the Citi Premier® Card, which gives elevated ThankYou points for your travel expenses and, with the recent update of the rewards program, for purchases at restaurants, supermarkets, and… Continue reading

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Posted: February 10, 2021

Many travel credit cards come with tempting perks, requiring some effort bonuses, a complicated rewards structure, and steep annual fees. The Discover it® Miles is probably the best Discover card for travel, especially if you do not travel… Continue reading

Top 5 Secured Credit Cards: September 2021 – Experts’ Choice

Top 5 Secured Credit Cards: September 2021 – Experts’ Choice

Posted: October 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

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!