Getting your First Plastic? Start with Low APR Credit Cards!

By Leni Parrish on November 3, 2009

People Can Be So Lucky

I was having coffee at my favorite hangout one day when I overheard a conversation between a mother and a daughter about credit cards. I could not help, but eavesdrop because of the mother’s generosity. Her daughter was preparing for college life. To spare her from the horrors of infamous college credit card debt, the mother offered to sponsor her first card, from signing up to paying monthly bills. The only catch was that she was made to promise in maintaining only one card, and to make only sensible purchases.

I was instantly envious. If only my own mother would give me the same offer! For somebody off to college, it is one great relief to have that plastic in hand, even if there were certain restrictions. Anyway, there I was admiring this mother every minute; as I eavesdropped and sipped my coffee ever so slowly, I fantasized about my own mom offering me this same offer.

The Card I Would Choose

I could finally get the red pumps I have always wanted! Okay, so a pair of killer pumps is not really sensible. However, in picking a card, I would, of course, go for low APR credit cards.

Aside from the fact that it would be wise to get a student credit card, low APR credit cards make it easier for students to keep up with payments because the interest is quite affordable. ‘APR’ stands for Annual Rate Percentage. It defines the actual interest a credit card holder has to pay for a purchase. So you see, going for low APR credit cards is the best plan for students who are just starting to use plastic. It will help in easing burden of payments. Of course, I would still opt for such a card even if it is my mother who is going to pay for my purchases. I at least owe her some wise spending, right?

Next, I would see to it that I would get the best student credit card offer out there. Almost every big credit card company in the market offers low APR credit cards specifically designed for students. The $0 fraud liability for example, is a feature that is present in student credit cards, wherein if a credit card is lost or stolen, a card holder is not liable for the transactions charged after theft or loss is duly reported. This is certainly a welcome privilege for people living in a dorm, with too many strangers coming in and out of your room.

Now, if only my fantasy would come true, all these credit card planning would not go to waste. I hope my mom is reading this though.

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