What should I look for in a student credit card?

by Manshu on August 24, 2008

in Articles

A student credit card is a credit card offered by a bank that is specially meant for students. Student credit cards are a great way to build credit history, as it is much easier to get a credit card while you are still a student as compared to later in life.

Few pointers that you need to keep in mind when applying for a student credit card:

    • No co-signor or minimum income needed: Many student credit cards will not need you to have a minimum income or a co-signor. Look for such a card if you are not working or don’t have some one to co-sign.
    • 0% APR for first six months: Many student credit cards will let you have 0% APR for the first six months or so. Make sure you get a card that has this feature.
    • Reward points for maintaining a good GPA: There are some student credit cards that will give you reward points for maintaining a good GPA. So look for one that will let you enjoy your high grades.
    • Reward points for timely payment: Some student credit cards will give you additional reward points just for paying on time. You need to look for this feature in your credit card.
    • No annual fee: Most student credit cards do not charge any annual fee but some still do, so make sure you get one which doesn’t charge an annual fee at all.
    • Reward points in general: Different student credit cards will have different reward point structure. Some will offer great rewards for shopping at a retail store while others give cash back if you buy gas from a particular gas station. Look for one that suits your needs.
      Needless to say that you must find one with a reasonable APR, after your introductory offer ends, so keep hunting for one with a low APR and a combination of the other factors mentioned above.

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