By Carrie Reeder
If you're a college student, you know how expensive books,
movies and tuition can be. And if you only work during the
summer break, you may be looking for a way to stretch your
funds through the cold winter months. Fortunately, a student
credit card can help. Find one with low interest and good
terms, and you can charge during the lean times and then pay
off when you're making money on your summer job.
To get a student credit card, follow these guidelines:
1. Find some cards for comparison.
It's easier than you think. Credit card companies often set up
tables and booths at college fairs. You may even find fliers
applications around campus. And you can always find a student
credit card with an online search. Be sure that the cards
you're considering are specifically student cards. Credit
aimed at students tend to have more lenient credit score and
credit history criteria, and they also tend to have lower
2. Pick the one with the best terms.
Not all credit cards are created equal! Since your student
credit card is probably your first, educate yourself a bit
about the terms and jargon you'll encounter. Choose one with a
low interest rate, since that's the "extra" amount your credit
card will tack onto your balance each month. Look for one with
a longer grace period, too, which is the amount of time you
have to make a payment before interest begins accruing. Other
things you should look for is a card with no annual fee and a
low late payment fee.
Simply fill out the application--either on paper, online or on
the phone--and answer the questions on the form. You'll need
reveal all the basics, like your name, current address and
number. You'll also need to provide them with a "permanent"
address and phone number. The application will include lines
for information about your school, your school's address, your
enrollment status and your year of graduation. It's possible
they'll ask about your bank accounts and employment.
If you're currently employed or have significant savings in
bank, chances are your line of credit--the maximum balance you
can hold on your card--will be higher. But even if you only
have a summer job, you should still be able to qualify for
- $1,000 in credit.
About The Author: Try using www.abcloanguide.com for a
list of Recommended Student Credit Card Companies
www.abcloanguide.com/creditcards.shtml online. Their
recommended companies are reputable and competitive in their