Cum să alegi un card de credit pentru student
Cum să alegi un card de credit pentru student
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One of the most convenient ways to earn architectural credit is with a student credit card. If you develop consistent, positive credit-building habits with a card that meets your needs, you’re on the right track. As with any credit card, student or non-student, there are many factors to consider to help you choose the right card. Read on to learn more about how to choose the best student credit card for you.

How do student credit cards work?

Student credit cards work like most standard credit cards. Student cards are different in that they focus on student-related benefits and perks. For starters, this often means relaxing approved credit requirements to accommodate students’ lack of credit history.

When the card offers rewards, those rewards are often generous in spending categories popular with students, such as food, entertainment and Amazon shopping. Generally, student credit cards are also very affordable, as they usually do not have fees like annual fees and foreign transaction fees.

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Eligibility Requirements for Student Credit Cards

Most issuers have a credit card minimum age of 18. However, due to the Credit Card Accountability and Disclosure (CARD) Act of 2009, there are additional requirements for anyone under the age of 21 applying for a credit card. If you have no independent income, you can still get credit until you turn 21 by becoming an authorized user.

Applying for a loan after age 21 can waive some of the stricter requirements in the CARD ACT, but you still need to provide some important information on your credit card application. Have your date of birth, income, credit history and Social Security Number (SSN) ready.

How to choose the best student credit card for you

Choosing the best student credit card comes down to understanding your spending habits and figuring out how to best use your credit card to meet your needs. Some key features to look out for are APR or APR (if there is a chance you won’t be able to pay your bill in full each month), fees (e.g. late fees, foreign transaction fees). or other penalties) and premium rates for specific expense categories. Here are some important questions to consider when choosing the best student credit card for you.

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Where do you spend the most?

An extroverted student who spends a lot of money on dining out or entertainment may find their match in a student ID that heavily rewards these types of purchases. More adventurous students may want to choose a card that offers great cash-back rewards for gas or airline tickets. Cash back on groceries can be very lucrative for interns. Knowing where your dollars typically end up can help you choose a card tha rewards these types of purchases well and gives you the most bang for your buck

Are you planning to study abroad?

Due to additional processing costs, many credit cards charge a fee for purchases made outside the U.S.—usually around 3% to 5% of each transaction. Fortunately, some cards do not charge foreign transaction fees. This feature is great for students who plan to study abroad and need a means of payment in addition to carrying loose cash. Using a credit card to shop abroad is a safe way to go, and choosing a card that doesn’t charge foreign transaction fees can save you money in the long run.

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How much effort can you put into keeping up with your credit card?

College life is hectic, and you may not always have time to devote extra effort to developing a credit card strategy. When choosing a card, decide how much time you want to spend managing your credit card beyond your required monthly payments. Want a low-hassle card with a standard rewards rate on every purchase? Do you want to maximize rewards by tracking quarterly signups in the bonus category? Both options are worthwhile, but you need to decide which one is best for your lifestyle.

Alternatives to Student Credit Cards

When it’s not the right time for a student credit card, there are other ways to get similar benefits as a student credit card.

  • Become an Authorized User: If you are under the age of 18 or are not prepared to assume full responsibility as the primary cardholder of your credit card, you can become an authorized user (usually a parent or guardian) of someone else’s credit card account. Provided that both you and the primary cardholder use the card responsibly, build credit and develop healthy financial habits.
  • Secured credit cards: Another common starting point for people looking to build credit from scratch is a secured credit card. These cards require applicants to leave a deposit (usually a refundable deposit) as a guarantee from the card issuer in case they cannot pay their bills.
  • Credit cards with no credit history: Also known as entry cards, these credit cards are designed for those with little or no credit history, and many college students fall into this category. Approved credit requirements are low, and some secure cards are even geared toward students.

Still not sure if a student credit card is right for you? Check out our credit card spending tool, which provides you with personalized credit card recommendations based on your credit score, spending habits and everyday needs.

Rezultat final

Getting a credit card is a big step in your financial journey. As a student, choosing the right card is a surefire way to skyrocket your credits. Do an in-depth study of the many student cards on the market and choose the one that best suits your lifestyle and offers the greatest return on your spending.

Make sure you have all the necessary materials for a successful application and always pay your bills on time once approved. You’ll level up instantly and get great credit.

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