Find credit cards, loans, mortgages and insurance using our guides, tools & comparison engines!
Student Credit Cards
Updated: April 10th, 2012 by Timothy James -- We will cover two important areas here. Firstly, how to choose the most suitable Student Credit Card for your personal circumstances - and secondly, what the best card offers are for the current week. Read the guide then compare the cards! Alternatively, if you want search for other card types, you can do that here.
Read The Guide...
This guide will give you important information you should know before applying; such as:
What student credit cards are.
How they work and the various options.
Who would benefit from this card type.
The top card offers for this week.
Compare The Cards...
Looking for the best offers for student credit cards?
>>
Click here now
Recommended:
Most popular credit card in this category.
What Are Student Credit Cards?
Student credit cards are tailor made for college students who want to start building their credit history from a young age. Unfortunately (but understandably), student cards have lower credit limits than normal credit cards so that spending can be controlled and the dreaded phone call to the parents doesn't happen too often!
How do they work and what are the advantages?
Like most credit cards, student cards are issued with a fixed credit limit and a variable rate of interest. This means that they can usually be used in exactly the same way as any other credit card - i.e. for purchases, balance transfers and cash advances, up to the credit line. The main difference is that the credit is usually only be a few hundred dollars to start.
Most cards also offer points or cash back reward schemes. The points that are earned can then be exchanged 'fun stuff' like music downloads, movie tickets, restaurant meals and educational books. Bear in mind that different credit card issuers offer different rewards so it is worth looking around for those you have an interest in and that will benefit you.
In addition, some credit card issuers even offer rewards for good college grades, making payments on time and staying within the agreed credit line and you can sometimes even earn reductions in your interest rate for good account management.
What if you can't get an actual credit card - are there any alternatives?
Yes, another option (and one that most parents may find more appealing) are
prepaid cards.
These type of cards don't offer credit - instead you have to load money onto them in order to use them. There are three advantages here. Firstly, spending can be effectively be controlled, secondly, card approval rates are almost 100% and they can also be a good way to start building up a credit history making it easier to get finance in the future.
It's also worth mentioning that after the
credit card act of 2009
was introduced a few years ago, credit card companies are now limited in the marketing that they can do on campus as well as to those who they can offer credit cards to. (currently, no-one under 21 (this doesn't include prepaid cards)). However, we now hear that they are now getting round this by offering college branded 'ID cards' that also act as debit cards. These types of cards are NOT covered by the card act as they don't offer actual credit. However, the fees can be very high and some cases, the card issuers charge for each PIN-based transaction.
Final thoughts...
If you apply for a card which offers credit, obviously make sure you have the ability to make the on-going monthly payments. If you apply for a prepaid card or campus card, look carefully at what fees there are and be sure to do your research carefully.
The best Student Credit Card offers for the current week...
Whilst other finance websites usually vast huge numbers of available credit card offers on a single page, in our view, all that does is create confusion (and a lot of research work) for you, the consumer. We've done all that work for you.
The top cards in our opinion are each marked with 5 stars. Remember, credit card companies change their offers all the time and the below information is correct at the time of writing. Be sure to double check the terms of the offer on the provider's website before completing an application.
As an official sponsor of the National Breast Cancer Foundation, purchases from the ACE Elite Card have contributed to over $2 million towards breast cancer awareness and detection.
Free Direct Deposit - paychecks are available up to two days faster*
Direct Depositing $500 in one calendar month qualifies you for a $10 Purchase Cushion & our lowest fee plan*
No credit check, No application fee, No obligation*
Secure: Card funds are FDIC insured, backed by Visa® Zero Liability*
Approvals.com - Find credit cards, loans, mortgages and
insurance using our guides, tools & comparison engines!
We have organized the website to make it as easy as
possible to identify cards, loans, mortgages and
insurance that you
will find most beneficial. However, we cannot guarantee
that you will be approved for any financial service or
offer displayed on Approvals.com because financial
companies make decisions based upon personal
circumstances, FICO scores, credit scores as well as
other information and their criteria is subject to change
and varies constantly.
Please note that we are not a lender and do not loan any
money. In addition, we may receive a commission from financial
institutions that we recommend or review on the website. We cannot be held responsible
for the content and/or actions of external websites and
services that
are linked to from Approvals.com and you will be subject
to their terms and conditions when using them. Visitors
to Approvals.com are also responsible for researching
offers and making
financial decisions that are most suitable for their own
circumstances. The information found present on this
website is designed to help you choose financial products amd does not constitute financial advice.
Be very sure to read the terms and conditions before applying for
any financial offer.
