Many credit card companies even go so far as to set up in high traffic areas frequented by college students to entice them into applying for credit cards. They offer special incentives to sign up, such as clothing, food, and CDs. They hand out applications like they were free, which is another lure. Free to apply does not always mean no-fee so read the fine print first!
Other than perhaps a few small tokens, student credit cards are really no different from any other credit cards. You still have to pay the bill. You still get charged interest and late fees. Some even charge annual fees, some don’t. These are all things to consider before applying for a credit card just to get a cool hat or a CD you could buy at the local shopping mall.
Who Can Apply for a Student Credit Card?
Just about any college student can get a student credit card if they have some form of income. They may only start with a small credit limit, but if they pay on time and use the card responsibly that limit will surely increase. Students who have no income may be able to get a card through their parents' credit history. They must of course discuss this with their parent first as they will have to co-sign. This also allows parents to monitor the use of the card since they are also responsible for the payment of any charges.
What Can Student Credit Card be Used For?
Student credit cards can be used for many things. Books, emergency cash, and even gas for a quick trip home may be charged. Other items such as concert tickets and pizza or Chinese takeout may also be deemed as charge worthy. Just keep in mind that sooner or later the bill will come and someone has to pay it.
How Do Student Credit Card Payments Work?
Like most credit cards nowadays, student credit cards can be accessed, monitored and even paid online. A diligent student will be able to keep up with payments and check for incorrect charges before any errors get out of hand. This is a good way to avoid lost bill problems as well. A small envelope is easy to misplace; a computer isn’t.
Student credit cards are useful, wonderful tools for college students. They make college life easier, more fun, and more comfortable. Use them well.
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