Why you need a credit card
Students should have a credit card for a number of reasons, but most of all it is important to learn to be responsible with credit cards and generate a credit history. You only need a single credit card to build a credit history, but choosing one that is right for you is important.
Using a credit card responsibly will help to build a credit history. A good credit history will enable you to do things such as purchase a car or house.
Emergencies. A credit card is extremely handy in case of an emergency.
Cash Worries. With a credit card you do not have to worry about carrying a lot of cash around.
Learn about credit. It gives a great opportunity to learn about the responsible use of credit.
Track spending on the credit card. You can track your spending on your credit card statement.
Rewards in the form of cash back, miles, points and more. It is like getting a 1% to 3% discount.
Interest free loan IF you pay off the balance. If you pay off your balance, you have gotten an interest free loan from the time of the purchase to the payment due date.
Important now, before leaving to go to college to have a card and be taught proper usage.
There is no cost to you. So, pick a card from below and apply today. Many credit card companies are offering good deals which means lots of competition and good deals for you!
The short summary is: if you are a responsible adult, then a credit card can be a great deal.
[Citibank Student Credit Card Offers | Discover Student Credit Card Offers | Chase Student Credit Card Offers | American Express Student Card Offers | Other Student Credit Card Offers]
Best current Student Credit Card Deals
The best current student credit card deals are listed below. All are no fee, meaning there is no annual fee to have their credit card. All include some type of reward system so that you get some type of reward (cash back, points, miles) each time you use your student credit card. The rewards vary from 1% to 5% depending on the card and what you are purchasing. In short, they are all quite similar when it comes down to it.
Applying is a simple -less than 5 minute process - with ZERO costs and no risks. You can get the card and not even use it except for emergencies! Just click on one of the links below to get started.
Right now Discover offers their Discover Student Card-Up to 1% Cashback Bonus® award
with no annual fee! These cards are all good deals.
We prefer Chase's card of these three.
Another option is a prepaid Mastercard. These cards give you the safety of a credit card, but with no chance of running up debt. For people who are reluctant to get a credit card, these cards give the convenience of a credit card without the worry of running up debt.
What are the drawbacks to a Student Credit Card?
Without proper guidance, you can get into debt. The most important thing to remember though is to pay off your balance on time. If you make a mistake and start to get in over your head, talk to someone - your parents, a friend, a friend's parents. Someone will help.
Interest rates are generally slightly higher than non-student cards, but that is not always the case and it should not be a concern.
Fees. If you do not pay the minimum balance on time you may be changed a late fee, likewise if you do not pay off your balance every month, you may be changed interest. The best rule to follow is: pay it off, and pay it off on time.
How are Student Credit Cards different?
The main differences are that they usually have somewhat lower spending limits and they have slightly higher interest rates on unpaid balances.
In general, the drawbacks to a credit card is high interest rates on the outstanding credit card balance. If you ever miss a payment, interest rates will increase. So, don't miss a payment, and if possible pay the balance in full each month.
How Long Will it Take to get my Student Credit Card?
It won't take long at all. While each student credit card issuer is different, they are quite prompt in issuing cards to those who qualify, so apply today and get your card soon!
Once I Get my Student Credit Card, then what?
You only need one: Remember, you only need one credit card. If you have picked one of the cards above, it is a good card and should last you a very long time. Other options may be tempting, but multiple cards make it more likely you will be unable to pay your charges.
If you obtain a new credit card, don't close the old one - unless you absolutely can't avoid using it - it will help your credit score if you have had the card for a long period.
Watch your statements: Look at your statement each month and make sure that you were the one who made the charges.
Pay off your balance: pay off your credit card balance every month. When you carry a balance on your card, you are paying a lot in interest.
If you can't pay off your balance: do not charge more and pay as much as you can. At least pay the minimum payment and if possible pay much more. If you pay only the minimum payment, if will take a very long time to pay off your balance. If you feel like you are in trouble, get help - from your parents, friends or friend's parents. (Students are becoming responsible users, according to studies. )
Never miss a payment. This is VERY important - a missed payment can stay on your credit report for up to 7 years. The goal with a student credit card is to build a good credit history, so be extremely careful about this.
If you move, make sure to update your address immediately. This will keep your statements arriving on time, so you don't miss a payment!
Don't get carried away. Using a credit card is taking a loan from the credit card company for about a month, nothing more. As a student, if you could not afford to pay cash for the item, do not buy it on credit. It is easy to get carried away and get into debt if you are not careful.
In our opinion these deals are the best for the College Student (or high school student) available today. There is nothing to lose by applying now - there are no costs, and no risks. Just remember to follow the rules for usage above and a credit card will serve you well.
Apply for the Discover® Student Card
Note that Student-Credit-Cards.biz collects no personally identifiable information.
Copyright ©
