Is there such a thing as a credit card that can be used by a student? That sounds awfully risky to me, but the fact remains that if the student uses the credit card at least reasonably carefully then there are credit cards for students out there for the taking…
However, the fact remains that students are notoriously bad with money. I am sure there are a few of you out there that can handle yourself with a bank balance so please don’t all write in at once with your complaints; i am merely going on an average here, and i’m sure you won’t disagree with that!
What a student wants is available credit when it counts. They need to be able to purchase CDs, DVDs, clothes and other related student stuff, but also they may sometimes need to buy food and perhaps some course related things, like books! This is basically what they need.
So what do you look for when searching for the best college credit card?
- Low interest rate
- Low credit limit
- Great reward points system with money off where it counts
- Low minimum payments
- 0% interest on purchases for at least the first 3 months.
Now that’s basically what a student needs. Now you can go away and find a credit card that meets that criteria. You might struggle with the low interest rate actually, i may have been a little optimistic. Students often fall victim of high interest rates simply because of their low credit limit and their actual ability to pay it off; i think it’s designed to deter them from spending too much money and failing to pay it back, but i don’t think it works!
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