Credit Cards


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Student Credit Cards

Written by Kathleen Gagne
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Remember being in college? Oh come on, it wasn't that long ago. Okay, forget the frat parties and your Psych 101 lab rat, and the thesis that you never thought you'd finish, and think back to your mailbox. Most likely, it was never full enough ... but it always had offers for student credit cards.

Seriously, was it that way for you? Because I definitely experienced that. I had no money whatsoever, and yet I was being offered amazing deals on student credit cards. And these weren't bad credit credit cards either, but bona fide, high-limit, low APR credit cards.

At the time, I ignored these offers without even bothering to do a credit card comparison. My parents are very anti credit cards, and they warned me to avoid these offers like the plague. The credit card companies were like Big Tobacco, my parents said, wanting to lure me in early so I'd be dependent on them forever.

Student Credit Cards 101

Can you tell my parents are kind of alarmists? The truth is that student credit cards can be a very beneficial way for a college student to learn how to manage their money, assuming their parents help them choose the right one. A real student credit card will offer a low limit, such as $2,000. In this way, the student gets the benefits of a credit card, without the ability to get into significant debt.

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