Wednesday, 7 March 2012

Student Credit Cards With No Credit Needed

In light of the law’s requirement that people under the age of 21 must either declare on their application that they have sufficient income/assets to cover a new credit card’s monthly payments (usually 3% of the balance) or have a co-signer in order to qualify for a credit card, it has become a bit more difficult for young people to build a solid credit history.

Nevertheless, as a college student, you should not ignore the direct correlation between the length and quality of your credit history and the mortgage terms, car financing, and jobs you’ll be eligible for. Opening one of the many credit cards for college students with no credit history is therefore extremely important. While credit cards for no credit students typically do not have the best terms in the market, given that those students lack a track record in handling credit, the rates, fees and rewards they offer are average and far better than those found on student credit cards with bad credit.

Listed below are both secured and unsecured credit cards for students with no credit history. Either type of card will report to the major credit bureaus, thereby allowing you to build credit, but if you want to develop a solid credit history as inexpensively as possible, we recommend picking a no annual fee student credit card that you pay off in full every month.

For more information visit this website page

Good luck!

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