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:: HOME :: CREDIT CARDS · Main Page · Card Recommender · Comparison Chart · Sort by Bank/Issuer · Top Five Credit Cards · Credit Card Specials · Sort by Credit Rating Main Categories · Balance Transfer Cards · Business Credit Cards · Cash Back Credit Cards · Fixed APR Credit Cards · Instant Decision Cards · Low APR on Purchases · Rewards Credit Cards · Student Credit Cards · Travel Reward Cards Other Specialty Cards · Cards for Parents · Gas Rebate Cards · Hotel Reward Cards Bad/Damaged Credit · Bad Credit Credit Cards · Debt Consolidation · Pre-paid Cards Credit Resources · Calculators - New! · Tips & Advice - New! · Credit Card FAQ · Credit Card Glossary · Credit Reports, Scores · Identity Protection · More Credit Resources :: LONG DISTANCE :: INTERNET SERVICE :: LOANS :: CELL PHONES :: INSURANCE :: ONLINE BANKING :: KNOWLEDGE :: MORE |
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Credit Card Tips and Advice Center Topic: Credit Cards for Students See the subtopics menu for tips and advice about student credit cards. For additional information about credit cards, see the topic list directly below.
 Apply for a Student Credit CardHow can I get a credit card while I am a student? Most traditional college students do not have any credit established when they start school. However, this is the perfect time to start building your credit history by applying for a student credit card. These types of credit cards are marketed to students under the assumption that they have little or no credit. These credit cards can help a student build their credit history, which can help them obtain loans in the future. If you make your monthly payments on time each month and don't overuse your card, you can quickly put yourself in the position to benefit financially. Establishing a good credit history as a student can help that person get better deals on car loans, home loans, new credit cards and more in the future. ^ Back to top Average College Student Credit Card DebtWhat is the average college student credit card debt? Most college students are just starting to establish their credit when they go away to school. What's so amazing is that they carry an average of $2,200 in credit card debt, according to Nellie Mae. Most students go into debt because they don't fully understand how to manage credit. But responsible use of student credit cards can be a positive first step in building a strong credit profile. The best advice for any student is to not spend more than they can afford to pay off each month. Create a budget and stick to it. If you have a credit card balance, plan your budget with monthly payments in mind. Since most college students are inexperienced when it comes to credit cards, they are often charged higher interest rates. This means that more of the money they pay each month can go towards interest rather than the principle. A student who doesn't overuse his/her credit cards and pays on time each month can really establish a good credit history which can make it easier to later apply for a car loan or other type of credit. To avoid problems, be sure to notice your credit card limit. While this is the maximum amount you can spend, it doesn't mean you have to reach that limit. In fact, you should try to keep your balance as low as possible. Make note of the payment due date, as well. If any of your personal information changes (address, name, etc.), be sure to notify your credit card company. It's also a good idea to call the company if you aren't able to make a payment one month. Sometimes, your credit card company will arrange a special payment option for you. ^ Back to top Best College Student Credit CardWhat is the best college student credit card? Is there one best college student credit card? Not necessarily. If you are shopping around for a credit card, you can get MasterCard credit cards, Visa credit cards, Discover credit cards and more as a college student. What it comes down to is reviewing the terms for each card offer and determining which card is better for the student. When establishing credit, don't apply for a card just because it offers a great introductory rate. Review the information typically found on the back of a paper application, or by following a "terms and conditions" link online, to see what other fees may be involved. Be aware of any annual fees, late fees, and know what the interest rate will be after an introductory period ends. Knowing this information will keep you from overspending on your credit card bill each month. ^ Back to top Credit Cards for Students with Bad CreditCan a college student with bad debt get a credit card also? While most college students have yet to establish credit, there are some that have already developed a credit history and it may not be good. A college student with bad credit can get credit cards just like any other person. It just takes some time and research to find a bank that is willing to approve the credit card. It also may take some work to find one that is offering a decent interest rate and has fees that aren't too exorbitant. It's never good to have bad credit so if you find yourself in this position, take the time to clean up your credit history by making your payments on time and not overusing your available credit. ^ Back to top Reward Credit Cards for StudentsCan a college student qualify for credit card rewards? Credit card rewards can be great for college students. Depending on what type of rewards card you get approved for you may be able to get free air travel, cash back or other great rewards to help you out when living on a college student's small income. One thing to keep in mind though is that those rewards programs are not always entirely free. If you carry a balance each month, the credit card company is earning interest from you. This basically means that any rewards you earn you are paying for in interest each month. But if you pay your balance off in full each month and avoid late fees by making all payments on time, credit card reward programs can indeed work out well. With responsible use, you can earn great rewards and start establishing a solid credit history at the same time. ^ Back to top College Student Credit Card StatisticsHow many college students pay off their credit card debt each month? More than half of college students pay off their credit card balance each month. That's good news because it means that those students understand the meaning of credit and can handle their monthly bills. Without this ability to manage credit, it won't take much for a college student to end up in serious debt. Credit can be an excellent way to afford major purchases when you don't have the money available at the time. It is ideal if you can keep it under control and only use it when necessary or in circumstances where you know you will be able to pay it off relatively quickly. ^ Back to top
Should you transfer an existing balance from one card to another? Use this calculator to help determine the best distribution of your credit card debt. Enter your credit card balances, rates and credit limits to find out. · Calculate which balance transfers will produce the greatest savings
 Resources: Credit Card Recommender | Free Credit Report & Score | Protect Your Identity
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