Author: Sean Masterson Added: August 18, 2008
Looking for the best student credit cards? You're not alone. Millions of students (and their parents) are looking for the perfect card to start their financial journey with. After all, the moment a student gets a credit card his or her credit history begins -- and a credit history is one history that can't be re-written. The wrong card can have long-lasting financial consequences. If you want to avoid that, you need to find the right card. Here are three things to look for when trying to find the best student credit cards out there... 1. The Card Culture Some credit cards are all about spending, while others are about savvy credit card management. How can you tell the difference? The best student credit cards will feature tools and tips to help you manage your credit card wisely. Open the monthly statement from a good student credit card and you'll find sound financial advice instead of advertisements trying to sell you junk you don't need. Go to the website and you'll see tips for responsible spending, not rewards programs designed to get you to spend as much as possible as fast as possible. 2. Online Account Management Today's students live a portion of their lives online. Because of this, online account management is a must. The best student credit cards allow you to access your account, review purchases, make payments and customize account notifications from the comfort of your home (or dorm). If a card doesn't offer online account management and tools such as free online payments and account statements, you need to look elsewhere. 3. Reasonable Credit Limits A $500 credit limit is more than enough for a student. Just because your child might qualify for a limit of $2,000 or more doesn't mean he or she should take it. Think of it as the Adam and Eve story from back in the Old Testament. If Eve had presented Adam with a small, sensible apple he probably wouldn't have been tempted by it. But it was a big apple -- big and bright and shiny -- he couldn't resist. Put a big and bright and shiny credit limit in front of a student and they're going to have a few temptation problems too. The best student credit cards will have sensible credit limits. Not huge limits that burn holes in the wallets of the students carrying them. There are good and bad credit cards in every credit card category. Student credit cards are no different. If you want to make sure you consider only the best student credit cards available, remember the above three tips when comparing them.
--- For more tips on student credit cards, saving money and avoiding getting taken, check out CreditCardWhizKid.com, a website that specializes in providing credit card tips, advice and resources.
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