College Student Credit Cards, Necessity?
A college student credit card in college can pretty much be a necessary tool when figuring out how you are going to pay for all your important needs like books, food, trips home and, of course, entertainment.
For many students, the college years are the time in their lives when they get their first credit card (college student credit card). Like everything in life learning how to use a college student credit card wisely and acquiring the discipline of budgeting and managing your money is an important growing experience. Owning a college student credit card brings with it much responsibility. It is important to make sure monthly your monthly payments are made and that the typical pitfall of overspending will not happen as these could end up becoming future bad marks on your credit history and report.
Creditors are taking a risk when issuing a card to a person with no previous credit history. Therefore, they will probably start a college student off with a higher interest rate or even a lower credit card limit. Those students using a bank or financial institution may even ask the parent to cosign the application for their college aged child.
When you are applying for your first college student credit card make sure to read all the fine print, and above all use your available credit wisely. Always pay off your monthly balance if at all possible, or at the least make sure you pay the minimum amount due every single month. It is possible to set up your account to automatically make your monthly payments from your personal checking account. This is a great method to preventing you from forgetting to make a scheduled payment. If you do follow some simple guidelines like these you can help make your college experience truly the best time of your life.
Both full time and part time students can apply for a college student credit cards, as most companies will not require a minimum income. This will allow students who do not have any income at all the potential of establishing a good credit report and history. Most of the big credit card companies believe going to college will make one a better credit risk than someone the same age not attending any kind of schooling. In addition, the credit card companies will usually not charge interest for the first six months to a new college student credit card holder, and they will usually not charge any annual fees.
College students will also be able to receive cash advance checks with no extra charges added to there monthly bill. Some other major advantages to a college student credit card will be the bonuses offered for initially signing up. College students will quickly learn where and where not to shop to receive the best cash back bonuses or rebates, which can range anywhere from 1% to 5% on various purchases both on campus and at local drugstores, gas stations, and supermarkets.
I say go for it. If you have the maturity and knowledge behind you, you will do well with a college student credit card. Just make the wise choices; they will follow you, as will the not so wise choices
Student credit cards.com @ August 6, 2008