Student credit card – College or high school students have to meet one of three requirements in order to able to apply and receive a credit card per the new laws regarding giving credit to those under age 21.
One of the ways they a student can obtain a credit card is if they are 21 when they apply. If a student is under age 21 then they must provide proof of income or apply with a credit worthy co-signer who is age 21 or older. This is how to obtain high school student credit cards, use a co-signer.
Below are some of the ways a student can use student credit cards to build their credit history. Students who do no have credit cards should consider one of these options so they can begin to build the credit history they will need for purchases they may want to make after college.
Obtaining Student Credit Cards
If you are a student and looking to obtain your first credit card then you will want to seek out student credit cards to apply for.
These cards generally offer many benefits which are not available to older credit card holders.
Some of these benefits include giving credit card cash back or other credit card rewards for purchases commonly made by students.
Look for the best student credit cards which may even offer larger cash back rewards for commonly made student purchases over other purchases made on the credit card.
One card offering such credit card cash back benefits to students is the line of Capital One Student cards.
Capital One Student cards.
Some of Capital One Student cards offerS include
- 2% back purchases such as food, entertainment, and textbooks with
- 1% cash back on all other purchases.
Also check the series of chase student credit cards with all its featured reward program.
What to Do Once You Get a Credit Cards For College Students
- When to start using your new credit card?
After you receive a credit card then you will want to begin using it wisely from the start in order to establish a positive credit history. One thing you should keep in mind is that student credit cards are listed the same and has the same credit reporting power as any other credit card.
This means all of the same rules apply to a student cards as another listed on credit reports. One of these rules is that in order to obtain and maintain a high credit score you need to not carry a balance of more than 50% of the cards credit limit.
- How you use your credit card and make your payments?
Another thing to keep in mind is how you use your card credit student and make your payments. For students it is a good idea to only purchase items which were going to be purchased with cash in hand.
The cash in hand which was going to be used to buy the items should be used to make the payments on the credit card and not for something else.
The reason for this practice is to prevent you from getting into overwhelming debt by making purchases beyond your means.
The other reason is that credit cards which are reported to credit bureaus as carrying only a 50% or less balance, monthly activity and punctual payments help to boost a credit score.
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