Credit Card Expert

Selecting A Student Credit Card For Life At College

When it comes time for you to go off to college, you usually will take some time to make sure you have everything you need. Sometimes, you buy new things because you want to look good, and be ready for your new life. Having the right credit card is also just as important, because the wrong kind could leave you without the benefits and privileges you want and need. Besides, it could also cost you more than you want, and things like tuition, room and board, books, and food already cost more than enough. Here are some tips on how to find that student credit card that is best for your life at college.

Choose Your Type of Student Credit Card

Each student credit card focuses on one or more types of benefits. These are usually related around a general theme and will provide rewards based on that theme. For instance, a driver's credit card for students will give points related to cars and driving. If you must travel by air to get to your college, and will travel some back and forth, then you probably want a student credit card that gives you air miles. Other cards are more general and give you points for most purchases.

Consider The Rewards Offered

The general type of student credit cards offers rewards for your purchases. Some of the credit cards change in their focus four times a year so that each quarter you get points on certain products, such as apparel, travel, gas, movies, restaurants and a few more. This is where the highest percentage will be - perhaps 5%. Other purchases will earn around 1% of the cost.

Build Your Credit Score

Since credit card companies generally assume that this is your first credit card, they encourage you to use your student credit card wisely. Obviously, how you use it will affect your credit score and it will provide you with a good opportunity to make it a good one. That is, as long as your payments are not late each month.

Balance Transfers

Since this is probably your first credit card, most student credit cards do not offer the balance transfer option. A few of them do, however, but it only lasts for the length of the introductory offer - usually about 6 months.

Bonus Points For Good Grades

If you look around for it, you can find that a couple student credit cards will actually give you points for having good grades. These are given at the end of each semester, and can provide you up to about 2,000 extra points that you can use toward buying more merchandise.

Compare Student Credit Cards

Depending on whether or not you already have a credit score, and what kind of job you have, you may be able to get your own student credit card. Many of these credit cards will require that you have a cosigner for it. Student credit cards also typically have higher interest rates than most other cards, simply because your credit worthiness is as yet unproved.

By shopping around for a good student credit card, though, you will be able to find one that will best match your needs. Do not just look at the benefits, but at some of the small print, too. You should find out about and compare the interest rate, the late fees, the over the limit fees, and many others, too. It won't take all that long, and soon you will have the student credit card to match your college life needs. Another option - if you cannot get one of these student credit cards - would be to get a prepaid student credit card.

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