What To Look For In A Student Credit Card

Students may typically find it difficult to get approved for a standard credit card. Thankfully for students in colleges, credit card companies offer student credit cards as well. In fact credit card companies like to make their customers when still in college. Credit card companies like students because they know that their parents stand behind their credit card debt and stay also stands to win lifelong loyalty by making them there are clients while still young.

According to the new credit card rules and regulations in the credit card act 2009, no person below the age of 21 can sign up for a credit card unless they demonstrate a source of income or have another person as a cosigner who can show himself to be a stable guarantor in case the primary holder happens to default.

It is important to choose the right student credit cards yourself as many such offers can be found from many major credit card providers. How to choose the perfect student credit card for your needs? The best student credit card should offer features like:

  • An introductory interest rate of 0% APR.
  • A low interest rate when the introductory rate expires.
  • Fraud protection for fraudulent transactions and loss of credit card.
  • 24 a customer service to help with problems regarding Bill or credit card use.
  • Specific usage rewards such as airline miles, reward points, cash back and merchandise gifts.
  • A manageable credit limit.
  • Notification by SMS/email/phone of credit limit, card balance, bill payment date.

Student credit cards should typically offer the ability to be approved without having an extensive credit history. This is what makes student credit cards specialized credit cards. The students who have not had a chance to establish a credit history or even have a bad credit history should be able to take advantage of a student credit card. A student credit card usually has a limited credit limit which is a good thing because it will help to keep your purchases and debt under control. Certain student credit cards require the students to provide proof of stable source of income.

While you may find that it is not so difficult to qualify for a student credit card, using one carefully and responsibly is important. Research has shown that a majority of students are thousands of dollars credit card debt by the time they pass from college. You should avoid this kind of financial situation by avoiding indiscriminate spending on your student credit card.

Use the credit card to provide you with the benefits and advantages that come this financial tool. Using a student credit cards to build credit history while still in college makes many things a lot easier to you such as finding an apartment, applying for a car loan when you pass out.

Student credit cards are available from several major credit card lenders today. You should look around and shop for the best student credit cards that match your requirements. Student credit cards are available that offer double reward points, unlimited cash back the ability to one money for keeping a specific GPA and more.