Student Credit Cards

Written by Jared Vincenti
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College students are among the most likely demographic to misuse a credit card. Given the freedom of credit, often without the ability to pay off debts, students "max out" a credit card quickly, and are left struggling to pay back the balance. Many college students default on credit cards, and this black mark on their credit history can follow them their whole lives, as can the debt.

Credit card companies have exploited this in the past, targeting their advertisements toward youth. However, recent criticism from lawmakers and lobbyists has quieted this practice, and there are many resources out there for students on how to be financially responsible in college. They include tips as unconventional as keeping a credit card in your freezer. That way, you have to thaw the card overnight to use it, thus preventing any impulse buys.

Options for Students

Despite the trend of credit card abuse, there are perks to getting a credit card in college. It can help you out in an emergency, and is a good way of building credit if used wisely. In light of this, many banks and credit card companies offer student credit cards.

These are credit cards available only to current college students. While the bearer is enrolled in college, the APR is kept low--but will go up after graduation. In addition, the credit card has a low credit limit, to prevent overspending. Student credit cards are a good idea for anyone looking to build credit while in college, but to err on the side of caution with credit.

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