Sunday, 11 March 2012

Student Credit Cards For Poor Credit

The Best Student Credit Cards For Poor Credit

If you are a high school or college student looking for a credit card but you have poor credit, banking institutions might be reluctant to approve you for a card. Several banking institutions offer credit cards that charge low annual percentage rates, or APR, and no annual fee, for students looking to build or repair their credit history.

Bank of America Student Visa Card

The Bank of America Student Platinum Plus card gives students with poor credit a chance to build their credit history and learn how to save and budget. Bank of America also offers a free Student Identity Protection Program for full- and part-time students, plus online resources to help students develop good financial habits such as credit monitoring, budgeting and paying bills promptly. As of January 2011, the Platinum Plus card charged no annual fees and had a low APR of 14 percent.

Capital One Journey Student Rewards Card

The Journey Student Rewards Card weighs its candidates less on their credit history, and more on their grades and academic standing. Although you will need to provide the bank teller with your transcript or report card, approval for the Journey Student card is simple for students with poor credit. Capital One offers payment reminder service to help students keep track of their upcoming bills.

Chase Freedom Visa

With minimum late-payment fees and zero annual fees, the Chase Freedom Visa card is a good option for young adults and students with poor credit history and a tendency to pay late. Not only can you receive 1 percent cash back on regular purchases, and 5 percent to 25 percent with online retailers, the 0 percent APR for 12 months can assure you of no late-payment fees for a full year.

Public Savings Bank "Open Sky" Visa Card

Designed especially for students with poor history, the Public Savings Bank "Open Sky" Visa card doesn't require a credit check or a checking account. The only requirement is a $50 upfront annual fee and making occasional purchases on your card each month. Public Savings Bank reports your payments to all three major credit bureaus, so students can begin repairing their credit history.

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