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Sunday, 18 March 2012

Applying For Student Credit Cards

How to Apply for a Student Credit Card:

Compare Credit Cards

1. Compare interest rates offered among credit cards geared toward students. You should look at both the introductory rate and what the rate will rise to after this introductory period ends.

2. Make sure the low-interest student credit card you are applying for doesn't make up for lost revenue from interest by charging unreasonably high fees. Look at the credit card charges for late fees, annual fees and fees associated with charging over your credit limit. Some may even charge an additional fee just to apply.

3. Get fringe benefits from your student credit card if you can. Little extras, like cash back or other rewards are among the benefits many cards offer. Make sure that these benefits are not accompanied by higher rates or exorbitant fees.

4. Look for a credit card that allows for little or no credit history. Many companies might require an additional co-signer (such as your parent or guardian) for you to apply for the card.

5. Remember that your credit card should not be viewed as a source of income. Rather, your student credit card is a tool for establishing a good credit rating from the start by making regular payments and maintaining a low balance.

Complete Your Application

6. Complete your student credit card application online to expedite its review. Depending on the credit card company, you may be able to view the progress of your credit card application online as well.

7. Visit your bank's local branch to see if you qualify for a student credit card. You will need your account information when you apply.

8. Have the information you need to complete your application handy before you begin. This will include your social security number, address and other contact information. If a co-signer is helping you apply, you will also need their employment and income information.

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