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Credit Card Comparison
Student Credit Cards
There is a variety of student credit cards available. These cards are typically a great way for young students to establish credit in their own name. In this article we will review the pros and cons associated with college student credit cards.
One of the best ways to build credit – especially for students just starting out – is by using a credit card. Because many students are interested in this aspect of their finances, companies offer student credit cards to help them get started. These types of cards are designed to help students learn about using credit, as well as start building a history.
While this sounds nice, it is important to remember that there is a dark side to student credit cards as well. It is important that students understand the dangers of getting into debt, and using their cards irresponsibly. Nearly every student has a credit card by the time he or she finishes a four year degree. This means that it is vital that students understand proper and responsible credit card use before they get their first cards.
Perks associated with student credit cards
There are a variety of college student credit cards aimed exactly at providing students with certain perks. These cards are usually easier to get then other credit cards. It is possible to get student credit cards with minimal income and no credit history. However, they come with certain restrictions:
Often, though, there are ways for the savvy student to offset these disadvantages. Student credit cards often come with these bonuses that are not seen with more conventional credit cards:
These points can often be redeemed for things that the wider population may not be interested in. Some of the rewards that can be earned by college students with specific credit cards include:
Warnings about student credit cards
It is important to use student credit cards wisely. It is very easy to fall behind and then get caught with a great deal of debt. In order to prevent this, students need to practice responsible credit card use:
Student credit cards can be useful tools when used responsibly and correctly. They can be a great way to build credit and to learn how to maximize your financial situation and your cash flow. However, if you are not careful, student credit cards can be the first step on a path that leads to crushing debt. Be wary of student credit cards, and remember to use them sparingly.
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