College Student Credit Cards: Types, How to Get, Advantages and Disadvantages

The most famous Credit Card Types Pertaining to University students

These days, credit cards for students are getting to be quite popular as they permit them to get the great things about cards with low interest rates. Found in fact, some cards do not even charge almost any fees. Apart from the benefits, the cards also ensure that the students to build credit. At present, there are an amount of such cards to choose from, such as secured, unsecured, merchandise, and prepaid cards. However you should always choose the the one that suits you the most. Along with, you should also keep in mind that credit credit cards come along with a lot of financial duties. Consequently, you must use them wisely. Credit


That is a kind of card that does not require any cash pay in make purchases from a simple line of credit. This kind of credit card for student offer limited or normal credit, but is obviously the most preferred option for the college students. In fact, it has been designed in a method to help student to improve their credit profile. One particular more good aspect about this type of greeting card is that it offers 1% cash return as a bonus amount on each of your and every purchase you make through it. In addition, the card would not come along with almost any twelve-monthly membership fee. On the top of that, it even offers an extra 25% reward when the monthly bill is cleaned on time. You can redeem the reward through a check or straight into your account. In addition, this type of credit card will not put any limit to the amount of money one can earn. 

Properly secured

This is a type of card that fetches money from a bank account shared by your card holder. Reliable and good properly secured cards always submit a detail of your repayment record to credit credit bureaus in order to let you build credit. The details of your repayment record are submitted to three chief credit agencies and email or texts are being used to send monthly payment pointers. This type of greeting card usually charges around twenty percent of twelve-monthly percentage rate (APR) on purchases, but does not charge any twelve-monthly membership fees.


Prepaid cards are very similar to a secured one and it in addition includes a looking at account. As its name suggests, in this type of card you spend the funds that you deposit in to the card. Pertaining to this reason, the month to month payment associated with this card is quite minor.

Important Guidelines To Support Scholars To Get A Credit Card

In previous days, it was quite simple for school students to get credit cards as there have been many sources available. There are too many companies who would offer free cards to students by just filling applications. Sadly, in February 2009, Credit-based card Act of 2009 has been around since and made very strict new rules regarding students to qualify for a credit card. Now, the rules have totally changed and are so difficult that students find it hard to qualify. Before going to get a card, students are supposed to know a lot of things about the diploma and related stuff, next are few guidelines, you can have a glance.

? First of all, study about bank cards, how it works and such other stuff. Further, you even need to understand the due dates, what are the billing procedures, overdue penalties, limit fees, how to raise your interest, ways to avoid any extra charges and many other card related questions.

? The students ought to be over an era of 21 and should be having a job. The conditions of the new law states that if the student is underage i. e. under the age of twenty-one, he/she must pay the additional charges off their own income or they should have someone as a co-signer who is above 21 years old. Further, the law presents permission to pay only 20% of the income and not more than that.

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