Student Credit Cards - Page 2

Statistics show a credit card issuer decision now, is a decision made for life, so choose wisely. Some student credit cards will require co-signing, and some--like personal loans--require no cosigner. A proven source of income will be of benefit if wishing to consolidate debts via a zero APR balance transfer, or for a successful application to a low interest card with no annual fee for example. All cards require careful offer assessment prior to committing yourself to an online application as a credit check will be imminent for the majority of applications.

Getting a credit card is a major milestone for many college students, although an emerging trend of pre-paid cards is enabling parents to give their teenagers cards as well.  There are two main types of student credit cards:  the first is the standard credit card, which operates similarly to credit cards that are designed for non-students;  the second is a pre-paid credit card, which does keep students connected to their parents financially.  The student’s parents choose when to reload the card and how much they want to put on it. 

Student credit cards are generally designed for those under the age of 21.  Recent changes in federal laws have put some restrictions on approving people in this age group for credit cards.  Credit card companies may now only issue cards to students who show that they are able to repay the debt on their own or who have an adult who agrees to co-sign on the credit card, accepting liability in the event that the student does not pay.  Most cards in the student category either require applicants to have only fair credit or do not require a credit check in order to sign up.  Here are the details on the top five credit cards that were designed with college students in mind. more »

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