The easiest credit cards for students to get are student credit cards for applicants with limited or no credit history and secured credit cards, which are available to people with no credit or even bad credit. Since college students tend to have higher incomes in the long term, issuers are willing to extend them better offers than most people without established credit could get. Think of it as an investment in a student’s future financial needs, which could prove quite profitable for a bank that gets in on the ground floor.
The easiest credit cards for students to get allow young people to begin building credit before entering the real world. If you use your card responsibly and pay your bills on time, you should be able to get a better deal once you graduate. And that’s true whether you’re starting with a student credit card or a secured card.
I love the Discover it® Student Cash Backcard. You get dollar for dollar match for all the cash back you've earned at the end of your first year, 1% cash back on all purchases, and 5% at different places each quarter. You also get a reward for having good grades. Each school year your GPA is at least 3.0, you get a $20 statement credit.
You can apply for a student credit card online, at a branch or (in some cases) by phone. To be eligible for approval, student credit card applicants must be at least 18 years old, earn enough income to afford monthly bill payments, and have limited credit or better (just not bad credit). … read full answer
To fill out a student credit card application, you will need to provide your annual income, your Social Security number (or an applicable alternative for international students) and other personal information – usually along with information about your school. As with any credit card, when you apply for a student credit card, you could receive a decision instantly if you apply online, or it could take as long as 10 business days. It usually takes 7-10 business days to receive a card in the mail after approval.
How to Get a Student Credit Card
Apply online, over the phone, or in-person. Make sure to have your SSN (or accepted alternative) and annual income at hand. If you’re under 21, you’ll need to have independent income to get approved for a credit card.
Wait for a decision. Sometimes, you’ll get an instant decision. If not, the typical waiting period for credit card applications is 7-10 business days.
Watch your mailbox. If you’re denied, the credit card company will send you a letter explaining your denial. If you’re approved, you’ll receive your credit card in the mail 7-10 days after you’re approved.
Student credit card issuers obviously expect applicants to be students, and many require proof. But they all do it a little differently. For example, the Citi Rewards Student Card asks for your school’s details and your expected graduation date on the application, and its terms say the card is for currently-enrolled students only. At least one student credit card, the Capital One Journey Student Credit Card, doesn’t require applicants to be students in its terms and conditions.
Applying for a student credit card might sound complicated and intimidating, especially if it’s your first credit card application. Try not to sweat it, though—the process is fairly simple in reality.
Student credit cards are a good way for students without much credit history to build credit. Their rewards can also work in a student’s favor. Some offer statement credits for good grades and perks for paying the bill on time. And you definitely need to pay all the bills on time if you want to be successful after you apply for a student credit card.
College students should have a credit card for two reasons: convenience and credit building. The extra spending power that a credit card provides can be a big help in emergency situations. That, plus $0 fraud liability and free replacement cards, should reassure anxious parents. Credit cards are also the best credit building tools that we have available to us because they’re easy to get, can be free to use and don’t force you to go into debt.… read full answer
Building credit during college is important because it will give you a leg up after graduation. Your credit standing could affect your ability to find a job, place to live, car to drive and more. Plus, it will either save or cost you a lot of money on credit cards, loans and insurance premiums.
Finally, college students can learn a lot from managing their own credit card account. It’s a big responsibility, which demands organization, budgeting and self-control. Getting some practice while you have free time and the stakes are relatively low will help prepare you for the pressures of the “real world.”
A student credit card is a credit card branded specifically for use by college and graduate students with limited credit history or better. Student credit cards are easier to get than the average credit card, and they usually have $0 annual fees, rewards equal to at least 1% cash back on purchases, and minimum credit limits of $300 or so. Some student credit cards offer low introductory APRs, but the regular APRs on student credit cards tend to be above average.… read full answer
Students generally have less credit history and less income than professionals and older adults. But students also come with assumed future earning potential, so credit card companies are more willing to approve a student with no credit history than a non-student newcomer. Student credit cards work just like regular credit cards, however, because they are regular credit cards. They’re just aimed at students.
Student credit cards can help students with fair, limited, or no credit build their credit history. The right student card can also teach responsible credit card habits to people who are new to the game. For example, some give bonus rewards for on-time bill payments and/or good grades.
You’ll need to be at least 18 years old to apply for a student credit card—or any credit card— on your own. If you’re under 21, you’ll need an independent income that the credit card company can verify. Income from even a part-time job will help your approval odds. And of course, you should be a student; you’ll most likely be asked about your school information on the application. Limited or no credit history usually is not an issue with student cards, but if you already have bad credit, you may not get approved. In that case, you may want to aim for a secured credit card, like the Discover it® Secured Credit Card.
It’s important to remember that student credit cards are definitely real credit cards. Like all unsecured cards, you can get in over your head if you aren’t using it responsibly. And the higher APRs of student cards can be a big extra weight if you carry a balance.
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