Where Can I Find Reliable Student Credit Cards?

By Leni Parrish on November 14, 2009

Looking for the best student credit cards is indeed a difficult task, especially if you still have no experience when it comes to credit cards. Finding good card deals for students are relatively easy because they have a few things in common. Here are some of them:

1.    Affordable Interest Rates. Companies offering student credit cards are fully aware that most students do not have an established credit history. Good student cards often offer low interest rates (15 percent or lower).

2.    Reasonable Credit Limits. Whether you understand it or not, students like you do not need high credit limits while you are in college. You should use credit cards for emergency and budget purposes only.

3.    Logical Grace Periods. The best companies offers 20 days of grace period, which means the student will be given 20 days to pay after receiving the billing statement.

4.    Low Fees. When you apply for student credit cards, they will only charge minimum fees. There are also processing fees and annual fees, but they can be handled easily.

5.    Online Account Management. Another innovation caused by technology is an online account management for students to keep track of all transactions, make payments, and review credit limits in the comfort of their dorm room.

6.    Credit Card Rewards. Who says rewards are for adults only? Companies who seek to provide good service to their student cardholders offer rewards that will enable clients to enjoy using their credit cards. However, take note that companies who offer rewards often demand high interest rates. Just remember to always pay your balances in full to avoid piling up interests.

7.    Credit Unions. Many student credit cards are offered through unions on university and college campuses. They often have competitive interest rates for students to pick them. You may check for these unions just in case you have not yet applied online.

8.    Taking Care of Your Credit History. Great crediting companies always report all made payments to the different reporting agencies. If your card is not a legitimate credit card, then it will not help your rating nor contribute to your record.

9.    They are Indeed Student Cards. Many creditors issue students the same cards they give everyone else. Students have different financial conditions compared to adults, and that is why you need to ensure your card is really meant for a student.

Getting the right credit card will definitely help with a lot of things. Just look for the characteristics given above and you will surely get the best and most reliable one.

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