Student credit cards and their distinct attributes


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 cards and their distinct attributes

Student credit cards and their distinct attributes

Updated: December 26, 2012

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

Student credit cards are being offered by a lot of credit card issuers to capture the young customer segment which comprises of a large group of people with substantial spending. More and more credit card companies are approaching students in spite of the fact that students don't have an income of their own to be maintaining a credit card.

Why student credit cards?

From the perspective of a student, credit cards while in college are easier to get, than once you are out of college and without a credit history of your own. With a student credit card, you can build up a decent credit history which will help you get better deals once you are out of college. In fact, the credit history can even help you get a student loan for higher studies at lower interest rates. Students do have a substantial expenditure which includes shopping to a great extent. Most of the students also have regular pocket money which means they can maintain a credit card without going overboard with the expenses. In a way they are making their expenses count by building the credit history, which should be fine as long as they pay the monthly bills on time.

Rules for student credit cards

Student credit cards are different from other cards because of certain rules. To start with, student credit cards cannot be given out to those under 21, without a guardian co-signing on the card. The alternative is for the student to show income proof that he or she will be able to take care of the obligation. This makes getting student credit cards below the age of 21 difficult. Also the latest rules are against credit card companies going to the campuses to woo the students to open new card accounts. This means credit card issuers cannot attract students at college campuses with tangible gifts anymore.

Benefits for the student and parents

If a parent or guardian has to indeed co-sign the credit card, they can keep a tab on the expenses of the students. Moreover, the credit history too will either benefit or trouble both the student and the co-signor and if the card is not managed well, it could adversely impact the credit score of the cosigner too. However, student credit card is a good option to start when you have no credit history because at a later stage you need to have income proof to get a credit card.

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!