There are a wide variety of credit card offers available specifically to students. Some companies even set up booths on campus, and there are more that provide information online. Here are five tips to help you choose the best student credit card for you:
1. Consider your monetary habits. Before choosing which credit card to apply for, consider what you will use it for and how you will pay it off. Many students use credit cards to pay for large purchases like textbooks, so it might be wise to look for a low fixed APR if you are likely to carry a balance. Look at the terms of each credit card agreement and consider how they will work with your own monetary habits. This can help you to save money in the long run.
2. Consider which features are most important to you. Many student credit cards offer the same sorts of features that regular cards do, including rewards programs and introductory rates. Think about which features you will get the most out of and look for cards that include them.
3. Read the fine print. If you have never had a credit card before, a lot of the details can be confusing or seem unimportant. By reading through the entire agreement carefully, and asking questions about anything you don't understand, you can get the most out of your card and avoid unpleasant surprises later on.
4. Compare several cards to find the best one. Signing up for a credit card at a booth set up on campus is easy and fast, but not necessarily the best option. Take an application home or to the campus computer center and look for more credit card offers to compare and determine which one really serves your needs best.
5. Check several sources of information. The Federal Reserve publishes a survey of credit card terms every six months, and there are a wide range of websites where you can compare credit card offers and apply online.
To find and apply for a student credit card, Beth Derkowitz recommends Find Credit Cards. Please see http://www.findcreditcards.org/type/student.php for more information.
