Student Credit Cards - Try Credit Fix

Student credit cards offer many advantages such as quick access to cash, a way to pay for emergency expenditures and most importantly a tool for establishing a credit history. Good credit will serve you well throughout adult life. I'm going to go over some of the more important things you should be looking for when choosing a credit card.

The interest rate that a credit card charges is the most important thing to pay attention to. Many of the more popular cards have an introductory rate of 0% for the first six months or more. Pay close attention to the terms of the card to find out what the rate will change to after the introductory period is over. Rates can typically vary between 11% and 21% on most student credit cards.

With some student cards points are awarded for purchases. Reward points can be redeemed for things like cash, concert tickets, airline tickets, gift cards and many other things. Airline tickets are especially nice for students attending school far from their homes.

Credit card limits for student cards can be any where from$200 to $5k. Starting with a low limit at first will reduce the chance of the student going wild and spending money on items they really don't need.

Some companies require proof of income and some don't. In the event that a student doesn't have proof of income the card company might approve them with a cosigner. It all really depends on the specific credit card companies guidelines.

Another nice feature offered is cash back rewards for purchases on the credit card. Cash back varies from 1% to 5% usually based on the specific types of purchases. For example tuition or book purchases may receive a higher percentage cash back then grocery purchases.

Other incentives offered by student credit card companies are things like cash advances, balance transfers, rental car insurance, online statements, online bill pay and travel accident insurance.

To make the right credit card choice you need to decide what benefits meet your spending requirements. By paying close attention to the terms of the cards you apply for you won't get surprised in the future.

Student Credit Cards : What To Look For