Are you thinking about getting a credit card for college? If yes, this article was written for you. Let’s talk about important questions that you should find the answers to before submitting that student credit card application.

Questions in Choosing a Credit Card for Students

It offers 0% APR- a great deal, right?

Of course, you’ll want to get a credit card with a low interest rate. But it’s important to understand that a low APR alone doesn’t make a good credit card. Aside from a low rate, make sure that you’re clear about the terms and conditions. For instance, how long will the low APR last? Is it just an introductory offer? How much will the regular rate be after the promo period? These are more important questions that you should ask when it comes to the rate of interest.

Do I need a co-signer to be approved?

If you need co-signer, would your parent or relative be willing to guarantee the account on your behalf? Being a co-signer means taking charge of the repayment should the cardholder fails to pay off his/her charges. See to it that your co-signer understands the responsibilities of cosigning for someone.
You may also find a student credit card that doesn’t require a co-signer. Although these cards may have lower credit limit, it enables you to build up your own credit history on your own. Once approved, you can request your credit card company for a higher credit limit based upon your performance or payment history.
Have you read the fine print?

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Many students make the mistake of sending in their applications without reading the fine print. This is a very risky move. The best way to compare college credit cards is to check the Terms & Conditions. Never make a decision based on the advertisements alone. If you do, you could get stuck with a card that imposes unfair terms and hidden charges.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit cards articles that would help build student credit.
Copyright 2009