College Student Credit Cards
Building Credit With College Student Credit Cards
College student credit cards are an excellent way for students get their first credit card. It gives one a feeling of safety to have a credit card in one’s pocket or purse. Student college credit cards are a great way for a young person to learn, first hand, about finances and budgeting. Student credit cards build a credit history that is separate from parents. College cards can be used by lenders later in life as a measuring stick for you as a trustworthy borrower. You should choose a credit card that was created especially for students. Do your research and follow the steps outlined below. Be certain to get the best student credit card for you and your situation.
Co-signer Can Help in Getting Approved for a Student Credit Card
Finally, it can be a little difficult to obtain college student credit cards on your own. Some card companies require that the student has a co-signer (usually the parent(s) or some other responsible adult). Students under the age of 21 have to meet additional requirements not required of those of legal age (rule of The Credit Card Act). An under 21 student has the choice of either get someone to co-sign or show proof of income high enough to justify the issuance of the card.
If you have a job with reliable income, you will most likely be able to qualify for the student credit card on your own, and build credit as a student. However, if you do not have a job, you will need someone to co-sign for you. Asking someone to co-sign is asking him/her to take a big step. Understand that whatever you do with this credit card will affect your co-signer. Furthermore, if you do not pay your bills on time, this will be reflected on the credit of your co-signer. If you should default on the payments and amount on the card, the co-signer will have to make the payment for you. Co-signing is a lot to ask someone to be willing to do for you.
Build Student Credit in College With Cards For Bad Credit
Another option to consider if you are looking to establish credit without a co-signer is to apply for a credit card for bad credit.
Disclaimer: This content is not provided or commissioned by Citi. Opinions expressed here are author’s alone, not those of Citi, and have not been reviewed, approved or otherwise endorsed by Citi. This site may be compensated through Citi Affiliate Program.
Disclaimer: This content is not provided or commissioned by Discover. Opinions expressed here are author’s alone, not those of Discover, and have not been reviewed, approved or otherwise endorsed by Discover. This site may be compensated through Citi Affiliate Program.