College life has its steady expenses and the college student can always use the easy accessibility of a credit card for those expenses. Students can go online to discover what credit card companies offer students credit. Often, the credit requirements for students will be less than for other individuals, enabling students to obtain a credit card. Discovery Credit Card Services (one of the more popular student credit cards) and Visa Credit Card Services are companies which offer attractive inducements for students to fill out a Student Credit Card Application.
These two companies list an introductory zero percent interest rate for six months with no annual fee and a zero fraud liability guarantee. However, most credit card companies do offer advantages for using their credit cards. These cards enable students to earn "cash back or rewards" on their purchases. Such cash back or rewards earnings on the student credit card will vary from one percent to as high as five percent for different types of purchases. In considering a credit card, students should compare the offers from several credit card companies by reading about their terms and conditions. This should be part of their "homework" before deciding to use any credit card, rather than basing their decisions only on the offers of cash back or rewards.
However, students must use caution when using credit cards, as well. Credit cards can cause problems for students if they use credit without controlling their spending impulses. Also, they must remember that the credit card is not "free money." The cards must be paid monthly while students are still in college. Furthermore, students should not use credit cards as supplements to student loans since after introductory zero rates expire, the student credit cards will charge an APR (annual percentage rate) of twelve percent and upwards. This results in higher monthly payments for students, making their school budgets even tighter. Moreover, if credit cards are misused, they can have a negative impact on the credit history of students.
Certainly, one of the greatest tools college students can use in their lives is a credit card. If used responsibly, the credit card can help students establish a good credit history which will positively affect their lives after college graduation and in future employment. Consequently when students complete any Student Credit Card Application, they should always remember that maintaining a good payment record is as vitally important as maintaining a good GPA (grade point average).