So, you are a college student and you are looking to apply for a credit card. Are you sure you are ready for one? If you are, feel free to compare some of the most recent credit card offers available on the net below. We list student credit card offers as well as credit cards to build a credit history. Be sure to read all the terms and conditions for each card before applying. To learn more about student credit cards scroll down.
Learn how to be responsible with your student credit card before you apply.
Getting your first credit card can be a difficult task, especially when you are a student with no credit history, and a pert time job. If you are wise, you will start to build credit with a student credit card sooner than later. Learning how to use a credit card, the right way, can put you at an advantage in the future, especially when you decide its time to get a personal loan, car loan, or even a mortgage! Please understand, receiving a student credit card should be considered a privilege, not a right.
Some tips for the Newbies
The best rule of thumb is: Don’t buy more than you can afford to pay off in any given month. If you treat the student or secured card as if it were a debit card, its pretty hard to mess up. For example, if you charge $100 in a month to buy books and pay your cell phone bill, and you make $500 a month, it should be pretty easy to pay of your $100 bill in full at the end of the month, unless you have many more bills. The key is to be aware of your total net income after your fixed expenses. To determine your net income, calculate your total income minus your total expenses for the month. This is the amount of money you have left to spend of items such as gas, clothes, food, or whatever you choose! If you are smart, you will save or invest some too! Never charge an amount more than your calculated net income. This way, you will have the ability to pay off the card every month on time, and start building a positive credit history! This is key to building your credit score and being able to obtain a low interest credit card in the future.
Compare various credit card offers and choose one that your are comfortable with
Find the best student credit card with low interest rates
Find the best student credit card offers with the lowest interest rates. Why do you want a credit card with a low interest rate? The less interest you pay, the cheaper the loan is, and the more money you keep for yourself! This especially important if you are not paying off the credit card balance at the end of the month, as you will be paying interest every month. If you plan on paying off the balance in full every month, most cards give you a grace period so you wont have to pay interest. (Be sure to check the terms and conditions)
Student Credit Cards with Rewards
A rewards student credit card is also a great feature as you can earn rewards on purchases of gas, movies, books, or you can even earn cash back for your purchases. Start building good credit now, and in the future, you will be amazed on how many banks start to contact you with some great low APR credit card offers with rewards for air miles, gas miles, and more!
Been Refused A Student Credit Card in the Past?
If you have applied for a student credit card in the past and were refused, you may want to consider applying for either a department store credit card or even better, a secured credit card. A secured credit card is designed for people who are interested in building a credit history. The reason is easier to obtain a secured credit card is because you have to put up collateral in order to receive a credit card from the bank. For example: Typically, if you deposit $300 into the bank account, you will have credit limit of $300 to use. The goal is to use this credit card responsibly, and with time, you will start building a positive credit history. Do this long enough, and eventually you will get offers for unsecured credit card offers for people with excellent credit with hopefully lower interest rates, balance transfers, less annual or monthly fees, and even rewards!