Student Credit Cards - A Quick Guide

We all have different credit requirements, and so the credit card companies design various cards to suit. The variant we are interested in here is the student credit card. This card is designed to help any student build their credit rating, and be useful for emergencies, which is ideal for many.

These days a credit card is almost essential for anybody, let alone students, and as such is used for many purposes including making travel arrangements etc. There is a wide selection available, and some students end up with multiple credit cards, and these are the people that are most likely to get into debt problems. The one saving grace is that credit cards for students usually have a fairly low limit, so if they do get into debt, it won’t be too extreme.

A recent study has shown that about 80% of college students own credit cards with a typical balance being around $3500. A worrying thought to ponder is that when many students use their credit cards to buy stuff, they don’t see it as spending real money.

Another worrying trend that has been reported is that a number of students are using their credit cards to top up the money that they have borrowed using student loans.

Do no take the amount you spend on your student credit card lightly. Because if you overspend or miss payments, you will end up paying extra interest, and possibly damage your credit score. This might not seem too important to you now, but trust me, it will be a pain later on in life, as it will cause problems when you come to get a mortgage or auto-loan etc. Don’t ask me how I know.

So, I will sum up by saying that a student credit card can be a very handy tool to have in your locker as you work your way through further education. Just use it responsibly and be aware of the dangers. Also, do some research, there are some good deals out there.

Credit: James Hunaban

Dealing with a Stolen Credit Card

Stolen credit cards involves fraud and theft. Find out how to be more cautious in using your student credit cards to avoid being stolen.

It is true that a student credit card is a lot easier and more convenient to use than check or cash. Having a student credit card makes it possible for students to make purchases online, make online ticket reservations, earn rewards, and build their personal credit history at the earliest possible time.

However, along with the advantages of using student credit cards, there are also some risks involved. In this article, we’ll discuss one of the most common dangers that threaten student credit card holders- the threat of fraud due to stolen credit cards.

Losing Your Student Credit Card

Everyone must be concerned about how they handle their student credit cards. Students seem to be more prone to lost or stolen credit cards because they’re the ones who are often more relaxed or complacent in handling their cards.

If you’re a student who lives in the boarding school or apartment, you could be sharing your room with other students. Leaving your things in your school locker also increases the risk of your credit card being stolen. Carrying your student credit card in your wallet also leaves you more prone to loss or theft.


What would you do in case your credit card gets lost or stolen? How should you deal with that kind of situation? Are you aware of the steps you should take to protect your account? Below are some tips on how to handle a lost student credit card:

Call your credit card issuer right away. If you discovered that your student credit card is missing, the best thing to do is call your student credit card company immediately. Alert them about the lost of your card. Request that your account be blocked immediately to prevent the thief from using your card.

Know your student credit card’s terms. Are you aware about your credit card’s policy on lost cards? Some credit card companies impose a $50 liability protection for unauthorized charges. Thus, in case of unauthorized charges in your account, you would only be paying $50 regardless of the amount of the unauthorized charges. There are also student credit cards that provide a $0 liability protection which means you won’t have to pay anything at all for unauthorized charges.

Alerting your company about the lost of your card at the exact moment eliminates possible problems. But what if you never lost your student card yet someone has been using your account without your permission? You credit card company may send you a notice regarding unpaid charges in your account which you’re not even aware of. In this case, you have the right to dispute the charges.

Call your student credit card company and inform them about your concerns. Follow up your complaint with a letter of dispute, sent via registered mail. Your letter should clearly explain why you think the charges are incorrect or fraudulent. Upon receipt of your letter, your student credit card company would conduct an investigation on the matter. You should also request for a card replacement if you suspect the possibility of identity theft.

Things to Look For In Applying For Student Credit Card

When applying for a student credit card, we often hear the advice to take your time in studying your options. But what are the things you should look for when choosing student credit cards? How can you make sure that you’ll pick the right one out of all the many choices you have in the market? Here are specific factors you should consider:

The APR. Most student credit cards offer 0% APR is part of their introductory offer. The 0% interest rate may only apply either to balance transfers or purchases while other credit cards may offer 0% APR for both balance transfers and purchases.

If you’re not going to transfer anything to your new student credit card, then go for one with a 0% APR on purchases. Nevertheless, don’t forget that the zero percent interest rate is just a temporary offer. It can last from 6 months up to 12 months depending on the credit card. Always check how much the APR would be once the introductory offer ends.

Other Charges. The APR isn’t the only cost you should consider when choosing your student credit card. Other charges like penalty fees for late payments and exceeding credit limit; annual fees and processing fees are all part of your student credit card bill that you should be aware of. Remember that a low APR doesn’t always mean that you found the best credit card for student. Make sure that all the fees are within a reasonable range.

The grace period. The grace period is the allowable period before you are charged with interest on your purchases. Some credit cards for students give as long as 30 days of grace period which gives you enough time to repay your balances in full without paying for additional interest. Thus, this particular factor is very important in a student credit card.

The perks and rewards. After considering the rates, charges and grace period, you may choose a student credit card based on the type of rewards it offers. Some student credit card rewards program give you cash rebate points while some student credit cards offer gas bonuses and discounts. Choose the one that will best fit your lifestyle.

The terms and conditions. The complete information about your student credit card can be found on your application form- whether you’re applying offline or online. Before signing up for a credit card, don’t forget to take the extra time to read this document and understand all the terms and conditions of your student credit card. If there are certain clauses that you don’t understand, call the credit card issuer and inquire about it.

Your convenience. Another factor to consider is your convenience on using your student credit card. Is the credit card accepted in a wide range of establishments and companies? Or will it limit you to just a few selected establishments? Also, choose a credit card company that reports to the major credit bureaus to assure the accuracy of your credit report.

Online access to your account. It is also recommended to choose a student credit card that allows you to access your account online at anytime. As a student, you’ll be busy with lots of school work and activities and it will be a tremendous help if you can keep up with your credit card account and payments right from a computer.

Common Student Credit Card Mistakes

Some people have the negative notion that owning student credit cards lead to bad credit. This is because many students have been prone to credit card debt and some have even resulted to bankruptcy. But owning student credit cards doesn’t have to be a bane if you can avoid these student credit card mistakes listed here:

Signing up for the first college credit card you see. There are many college credit cards to choose from but most often than not, a student simply signs up for the first offer he or she receives. You may have received an attractive credit card from your mail or email. But when applying for your first credit card, you should do all the necessary research about the details and terms of your chosen card. If not, it is possible for you to get stuck with a student credit card that imposes unreasonable rates and charges.

Using up your credit limit in full. This is another common mistake that students make. Every credit card holder is given his own credit limit which he can use when using his credit card. However, this doesn’t mean you should maximize the entire allowable credit limit you are given. You should be aware that maximizing your credit limit leads to penalty charges and increased in rates in your account.

Not paying your bills on time. A student credit card debt is meant to be paid off on or before its due date. Untimely submission of payments is the number one cause why many students fall prey to bad debt. As a student credit card holder, you should always be aware of your payments and religiously keep up with them. In addition to this, untimely payment creates a negative impact on your credit report. Therefore, in order to maintain an excellent credit standing, you should never allow delays or misses in your credit card payment.


Using your student credit card on all your expenses. Credit cards for students are supposed to help you with your school expenses especially during inconvenient times. But this doesn’t mean you should get in the habit of using your student credit card for paying restaurant bills each time you eat out or when partying with friends. When you own a credit card, you should be more aware and responsible in how and where you spend your money. Bear in mind that everything you spent using your credit card is a debt that must be paid on time.

Not taking care of your student credit card. Another mistake that students often commit is being too careless in handling their cards. Leaving your credit card where other people can easily access it or copy the details such as your student credit card number puts you at great risk of fraud. Many students have obtained unauthorized charges in their credit without their knowledge because they have failed to be more cautious with the use of their student credit cards. If you own a college credit card, you must be more vigilant in handling it.

Before choosing a Major...

Choosing a major is sometime difficult especially when you are choosing more than one course. But sometimes you may be very fascinated in a major, you find that you don't have enough skills to pass the required courses. On the other hand, you maybe have a skill in a particular field, but you have no interest in that area. Sometimes, you may have both interests and abilities in an area but find that the realities of the job market are such that you are not willing to risk an investment of time and money on potentially bleak employment chances.


Here are the questions you need to ask yourself before you choose a major!

-What are my interests and what fascinates me?

-What are my motivations?

-What are my abilities and capabilities?

-What are the realities?


Guide to different majors:

* Majors in Arts and Humanities

* Majors in Business

* Majors in Criminal Justice

* Majors in Education

* Majors in Engineering

* Majors in Health & Medicine

* Majors in Game Design

* Majors in Science

* Majors in Social Science

* Majors in Technology

A Practical Guide on Student Credit Cards for Beginners

Are you a student about to enter college? If yes, have you thought about getting your own student credit card? Perhaps you may think that having a student credit card is not in your list of priorities. Some people may even have a negative impression about credit cards for students, thinking that owning a credit card will only put the student at risk of debt.

It is true that having a credit card involves responsibility. However, when used correctly a student credit card actually has its advantages. Here, we’ve listed the major advantages of owning a student credit card that you should consider:

Get approved for a good credit card deal with no hassle. Generally, the best credit card deals in the market require good to excellent credit. An applicant must also have a stable job or a reliable source of income in order to get approved.

This is not the case for student credit cards. In fact, this would be the only time you can apply for a credit card without worrying about these requirements. Once you’ve graduated, you will not be qualified to apply for a student credit card any longer.

Build your personal credit history early. Having a student credit card is a tool for building your credit history. Why is it an advantage to have an early credit history?

Lenders and insurers have more confidence in clients who have a clean record of credit history. Thus, the older your credit history is the better candidate you would be in the eyes of lenders. It is no secret that the best rates and terms are given to customers with the best credit rating.

Take advantage of the opportunity to purchase online. Purchasing from online merchants is not only more convenient, it is also cheaper. Online shops often sell goods at a lower price compared to regular shops because of lower capital. Enjoy great savings and discounts when you use your student credit card to shop online.

Use a Student Credit Card to Your Advantage

As we’ve said in the beginning of this article, being a credit card holder involves responsibility. It doesn’t matter whether you own a regular credit card or a student credit card- all cardholders must be aware about their obligations to avoid the risk of debt.

To sum it up, there are four rules that a student must remember when using a credit card:

1. Use your student card only for important purchases. Don’t use your student credit card for things that you can pay in cash. Never use your card for an unplanned purchase.

2. Pay your bills on time. Building a solid credit history largely depends on how timely you are with your payments. Be conscious about your payment due dates and always submit your payments on time.

3. Monitor your account regularly. You can do this by examining your monthly bills and accessing your online account (if your credit card company provides online access). Make sure that there are no unauthorized charges in your account and if there are, inform your student credit card issuer right away.

4. Pay off your monthly bills in full. To avoid debt build up, it’s best to settle all your student credit card bills each month. Doing so will prevent you from maximizing your credit limit and frees you from additional costs like the APR and late penalty charges.

Build Your Credit Rating with Student Credit Cards

Having a student credit card able you to establish an early credit history. This article contains the proper way of building student credit and some practical tips on how to make most of your student credit card.

In the past years, students may have a hard time opening student credit card accounts for themselves. Because they don’t have credit history and no job, credit card companies are hesitant to extend credit for students. Today however, the situation has completely turned around.

The tough competition among student credit card issuers has brought about this great change. And because there is a large number of students who want to own credit cards, issuers simply cannot afford to ignore this market. Saying no to student customers would be letting go of big profit.

The introduction of credit cards for students has made it easy and convenient for young people to get a credit card of their own. Some credit card issuers may still require a cosigner but you can find many student credit cards that do not. Yes, even without a credit history and without a cosigner, a student can get approved without hassle.

In fact, one of the advantages of obtaining a student credit card is to establish credit history as early as possible. If you are in college, this will be the only time you can apply for a credit card and get approved with no questions. Once you’ve graduated with no credit history, you’ll have a more difficult time finding a credit card with good deals.

How to Build Your Student Credit Rating

So how can a credit card help you build your credit history? The only way to do this is to use your student credit card and be consistent with your payments. As a student, you need to be very aware of your spending and credit card use. Having a student credit card in your wallet is not a pass for splurging or overspending. It is up to you to take control over your spending.

The danger in owning a student credit card is the tendency to overspend and failure to keep up with your repayment. Some students are guilty of charging large expenses on their cards or forgetting to pay their monthly bills. As a result, debt builds up quickly until repayment becomes a burden.

To avoid such complications, a student must realize the importance of paying off credit card bills on time. Instead of carrying over monthly balances, it also best to pay off your charges in full every month. This way, additional costs such as the interest rate and late penalty fees are avoided. Aside from avoiding the risk of bad credit, doing so will also protect your credit.

Students must also stay vigilant against the threat of credit card fraud and identity theft. Safeguard your personal information and check your account regularly. Make it a habit to review your monthly billing statements to be sure that there are no unauthorized charges in your account. In case there are unfamiliar charges in your bill, don’t hesitate to call your credit card company right away to clarify the issue. Remember, you can dispute incorrect charges in your student credit card bill especially if you know that you did not make those purchases.

How to Know Your Child is Ready For Student Credit Cards

There is a point in every parent's life when they have to let go and allow their child to grow up and start to take on a life of their own. This often comes as a child graduates high school and takes off for college. But as a parent, you may not think they are ready for all of the things they need to know to get by in the world.

One of the important things you need your child to know before you 'let them go' is how to take care of themselves financially. This doesn't just mean making sure they know how to pay their rent and utilities bills, but also that they know how to take care of their credit so they can have a good line of credit throughout their lives.

Often college is when children get their first credit cards. But you may not be sure your child is ready. Here are three steps to getting them on the road to financial independence.

Have a Talk

You need to be confident that your child understands the importance of getting a credit card before you ever allow them one. The best way to assess this is to take a seat and talk credit cards with your child before approving them getting one. Make sure they understand the responsibility that comes with credit cards and that a failure to be responsible could follow them for years to come on their credit report.

Credit Card Light

Before you give them a normal credit card with a high limit, you may want to start a little smaller on the credit front:

Prepaid Credit Cards - You could begin with prepaid credit cards, which are cards that you charge with money, much like an ATM card. These will allow you to see if your child tries to keep going over their spending limits.

Student Credit Cards - Many of the student credit cards out there don't allow too high of limits. The best student credit cards are like starter credit cards that allow you to set the limits your child can charge to, so their credit can't get out of hand, even if they forget to be responsible.

Continue reading the article by Stephen Sikes

Credit Cards and High School Students

The Federal law doesn’t provide any restrictions about issuing credit cards to minors. In fact, credit card companies consider teen-agers as a very profitable market. Most credit card companies often require a co-signer when a minor applies for a credit card. When a teen-ager reaches the age of 18, he has the right to sign-up for a credit card on his name even without a cosigner.

Are Student Credit Cards an Advantage?

Some parents feel that providing their kids with credit cards while they are still in high school help them learn about money early in life. With proper guidance and support, obtaining a student credit card can help young people learn about how to handle their finances properly.

A student credit card is a great way in establishing a credit history in preparation for their future. Some credit card companies refuse to grant credit card approval for those without a credit history. But with the help of a parent as a co-signer, it will be much easier to get a credit card.

Read full article: Credit Cards and High School Students

Teaching Students About Credit Security

A lot of college students are excited about acquiring their first credit cards. Despite the ease and convenience that credit card brings, it is very important to learn how to handle a student credit card properly. Reports show that a lot of college students graduate with unpaid debts on their account. They have used their student credit cards without control and have put themselves in a difficult situation.

Credit Card Companies Pursue Students

It is interesting to note that some financial experts believe that credit card companies view students as a very lucrative market. Students have the tendency to spend more not only for their school necessities but for other things as well.


Regardless of the fact that college students do not have stable jobs to support them, credit card companies still pursue them as profitable customers. Why? Because even though they cannot pay their debts on a timely manner, credit card companies can still charge them with extra fees such as annual fees, penalties for late payment, penalties for exceeding credit limit, and higher interest rates.

Read full article: Teaching Students About Credit Security

How Students Can Manage Their Student Credit Cards

Surveys prove that many college students graduate with unpaid debts on their student loans which can amount to $20,000. Those who are still in college are faced with credit card debts amounting to $7,000 or even more. Even worse, there are many at a young age of 15-25 have already filed for bankruptcy. If you’re a student who owns a student credit card, these staggering surveys should definitely concern you. What can you do to avoid falling victim of bad credit?


Here are some valuable tips you can in your personal life as a student to help you manage your finances wisely.

Make a Commitment

Bad credit usually results from splurging or uncontrolled spending. In order to avoid paying for unreasonably high balances, as a student you should have the will to restrain yourself from spending on things that are not really necessary. Every time you plan on buying, ask yourself, “do I really need this or do I just want it?” If you know that you can get by without making that purchase then, have the will to back out.

Pay Cash

Don’t use your credit card on every little thing you need. When you eat outside or go to the movies, don’t charge it on your credit card. You should change your outlook about owning a credit card. It doesn’t give you the leeway to spend on all the things you want. Always keep in mind that you are still responsible in paying back the charges on your credit card.

Read full article: How Students Can Manage Their Student Credit Cards