Student Credit Cards

In today’s economic environment, credit history is critical.

Even more important then just a few years ago, an individual's credit history has become the most important factor in determining whether or not someone should trust you with their assets. As a student, you are in an optimal position to begin a sound record of personal financial management. The key is to establish credit under your name and social security number, and to avoid racking-up a bunch of credit card debt by the time you graduate. Check out Credit Cards 101 for college students.

Below are college and graduate school costs that CompareCards.com considers appropriate / non-appropriate to charge on a credit card:

Appropriate charges:

•    Text books

•    Housing accessories

•    Computer

•    Travel Expenses

•    Gas (if cash isn’t an option)

•    School Supplies

Non-Appropriate charges:

•    Meals over $20

•    Shopping related items

•    Rent

•    Utilities

•    Subscriptions (e.g. cell phone, magazine)

Student credit cards are very different from low interest student loans.

Not to be confused with low interest student loans, student credit cards do not defer payments.  Even the best student credit cards begin charging you interest following the established grace period and there will be a minimum balance due each month.  It’s important, to ensure that your credit score remains good, that you make your payments on time each and every month. But, for the student who is willing to manage their new card wisely, the rewards can be significant.

A bad credit score is not the end of your credit options.

If you have gotten off to a bad start with building credit as a student, you still have options available to you. Many of the credit card companies offer solutions that can help you begin to repair it.  The biggest factor after obtaining a new student credit card is to make your minimum payment every month and to submit payment on time. Even one missed payment can damage your score even further. Though already having a negative history can make getting a new student credit card a bit tougher, following the above recommendations can help you wipe away all of your negative credit history in a relatively short time.

* See the online credit card application for details about terms and conditions. We make every effort to maintain accurate information. However, all credit card information is presented without warranty. To confirm terms and conditions, click on the “Apply Here" button and review info on the secure credit card terms page.