Student credit card – second line of financial support for students


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 » Student credit card – second line of financial support for students

Student credit card – second line of financial support for students

Updated: December 26, 2012

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

A student credit card is a credit card issued to students attending schools and colleges. Students who are eighteen years old and attending a high school or college may qualify for a student credit card. A student credit card is a very useful instrument for a student going to college by offering assistance for the financial aspects of his studies.

A student is not required to have a steady source of income to get a student credit card, with a fair amount of credit limit. These cards may be of great use to students for services and purchases in all parts of the world. Of course this credit extended to students has to be paid back in full and with interest. These credits attract a very high rate of interest, and possibly more than normal banks charges on their loans.

Student nowadays gets numerous credit card offers sponsored by several credit card companies competing in the market. Their offers may vary from normal to outrageous. But before selecting any one of those cards a student must read the terms and conditions involved thoroughly and understand the details such as annual charges, over the limit charges, late charges etc. Some credit card companies levy heavy charges on unpaid balances, knowing this before hand will alert a student to repay balance amount in time and full to avoid the excess charges.

Getting a good credit limit on the student credit card is of utmost importance to a student. There are several factors that are taken into considerations before the credit limit is decided. Some are the student's personal income, bank account balances if any, credit history and the credit score. If these factors are good a student is sure to get a high credit limit on his credit card, on the other hand student with a short credit history may not be in favor of getting a high credit limit. The credit card companies needs to have a long credit history to make an assessment of the students past dealings to conclude on the credit limit.

In conclusion it is always rewarding to pay your dues on time and keep minimum balances in your credit dealings. Possessing a good credit history will qualify for a higher credit limit. If a student with a lower credit limit keeps a low balance in his account and maintain a timely repayment routine, the credit card company may later raise the credit limit. A student must also wary of credit cards that offer reward programs, because they may be charging high rate of interest on their transactions.

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: January 2021 – Experts’ Choice

Top 5 Secured Credit Cards: January 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

Credit Card Tips For Holiday Shopping 2020

Credit Card Tips For Holiday Shopping 2020

Posted: October 15, 2020

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household… Continue reading

Top 5 Soft Pull Credit Cards: January 2021 – Experts’ Choice

Top 5 Soft Pull Credit Cards: January 2021 – 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

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!