Many college students find themselves in financial trouble once they get to campus, when the cost of food and books turns out to be a lot more than they had planned for. Finding ways to apply for a first credit card as a student might help them get through tough times and build a good credit rating for the future as well.
There are a lot of ways to apply for a first credit card as a student. In some of the simplest cases, the credit card company comes right to campus and sets up a stand in a well-traveled area, like a student center, cafeteria, or main academic building. Usually offering some kind of extra handout like a T-shirt or umbrellas, the credit card company has brochures on hand that allow interested individuals to apply for a student credit card right there and then. In order to expand their potential customer base, some companies also come back to campus for big events, like football or basketball games on the weekend. Some credit card companies also put up permanent displays in locations like on-campus bookstores with applications available for interested parties at all times.
Another way to apply for a first credit card as a student is to look online. It is not difficult to use a search engine to find credit companies or banks that offer student credit cards and apply online. In most cases, the applicant is accepted and receives their credit card in a matter of weeks.
Some banks and credit unions that offer student loans also give their new customers the opportunity to apply for a student credit card. The applications can be found in the bank, online at the bank or credit union’s Web site, or, in some cases, along with student loan information. Since the student already has a relationship with the bank or credit union, their likelihood of acceptance is very high.
While a first credit card as a student can be useful, they should be used with caution. Some of these cards have low credit limits and high interest rates, and not using them responsibly can cause problems that will haunt a student’s credit rating far into the future.