Are Student Credit Cards Really That Good?

Nowadays, there is a wide variety of students credit cards available. Some are secured accounts, which require the student to deposit a minimum amount into a savings account. The credit limit is determined by the amount of funds contained in the savings account, and can be adjusted upward as the student makes regular payments and deposits additional funds into the savings account. In order to give the college freshmen a taste of what it is like to manage money, these secured students credit cards encourage building up an excellent credit rating as well as creating a financial resource that will be very helpful once school is completed.

However, the trend is that more students are turning into consumers of credit when they get their first student credit card in college. Student credit cards can give them a highly convenient way of making purchases; however this is also a time of great responsibility as they start their first endeavor into money management. This will be a great way to test their own discipline when it comes to controlling their credit cards expenses.

If you are a college student owning a credit card, this is the time you start building your credit report, which will be useful when you need the extra money to buy a house or a car. We all know that it is very expensive being a college student nowadays and it can be hard to monitor your credit card bills and payment. This means that it can be a great challenge to refrain from using your credit card to pay for your expenses and chalking up huge amounts of outstanding credit bills.

Having said that, a student credit card can also be very convenient. It offers you the benefit of carrying a huge amount of paperless money around and the prestige of having one. Many student credit cards also offer protection in case the card gets stolen or lost. Another feature is that you will be able to apply for a student credit card at the early age of 18 years.

There is much choice for students when it comes to selecting a card. The first thing when choosing a student credit card is to find one with the lowest interest rate. This will help to reduce on your interest payments if you are unable to repay by the deadline. In addition, student credit cards also allow you to accumulate points from your purchases which you can redeem for rewards such as books, digital gadgets or even your favourite MP3 player.
There is an important factor that must be remembered at all times. That is if you misuse your student credit card and keep making late payments, you will be under a huge debt burden when you graduate and need to buy a home or a car. Bear in mind that student credit cards are different from a student loan. You should treat them as high interest loans which you should pay off immediately. In other words, you will have to think twice when you are making your next purchase with a student credit card. On the other hand, you can have a good credit score if you can properly managed your payments,. If you make your payments on time, you can also avoid the interest charges.

By: Skyjoe

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For more information on the different kinds of students loan, students credit card, finding the right student insurance plan, please visit the following website: students.mygeneralknowledge.com/Articles/Students_Credit_Card.php Skyjoe is a well-known author, website publisher and owner of students.mygeneralknowledge.com. Skyjoe. All rights reserved. This article may be freely distributed as long as it remains unaltered and the copyright notice is intact. No alteration is allowed without express written permission from the author.

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	Card Category: All Business Charge Foreign Poor Credit Pre-Paid Regular Reward - Airline Reward - Auto Reward - Cash Reward - Finance Reward - Gas Reward - Hotel Reward - Retail Reward - Sports Reward - Travel Reward - Other All Reward Cards Secured Student Intro APR: All 0.0% 1.9% or Less 2.9% or Less 3.9% or Less 4.9% or Less 5.9% or Less 6.9% or Less 7.9% or Less 8.9% or Less 9.9% or Less Time Period: All 3 Months or More 4 Months or More 5 Months of More 6 Months or More 7 Months or More 8 Months or More 9 Months or More APR (Purch.): All Less Than 6% Less Than 7% Less Than 8% Less Than 9% Less Than 10% Less Than 11% Less Than 12% Less Than 13% Less Than 14% Less Than 15% Less Than 16% Less Than 17% Less Than 18% Less Than 19% Less Than 20% Less Than 21% Less Than 22% Less Than 23% Less Than 24% Less Than 25% Annual Fee: All $0 $10 or Less $20 or Less $30 or Less $40 or Less $50 or Less $60 or Less $70 or Less $80 or Less $90 or Less $100 or Less $110 or Less $120 or Less $130 or Less $140 or Less $150 or Less

Want to guess what your credit score is?

Here are some hints to let you know what your credit score probably is and what type of credit cards you should apply for:

• If you are under 21, even if you have never had credit before, you will not be able to get accepted for certain cards, unless you have three years of great credit history. Apply for cards in the "fair credit" range. If this applies to you,
Fair Credit credit cards are some great cards that you will be accepted for, and have great benefits.



• If you are over 21, and have had perfect credit since you were 18, have made no delinquent payments, and have never had a bankruptcy or charge off, you should apply for a card for people with good credit or excellent credit credit score range. There are many great reward credit cards for you.
• If you have bad credit, you may want to apply for prepaid cards. There is no credit check to get these cards. Also, they start building your score once you use them and help you regain your good credit status, so eventually you can apply for other types of cards. Apply for unsecured credit cards if you would rather get a card for people with poor credit. You can't get turned down; everyone gets accepted for these cards. Also, they start re-building credit quickly.