credit cards


Credit card companies are starting to market their cards to students with some attractive offers. Since the 2010 regulations stopped credit card companies making certain offers and inducements to people under the age of 21 this market has been neglected by the companies but their is now competition for the students business.

On average credit cards to students are 2 points below the average credit card rate and some companies are now offering student cards with extra benefits depending on their grades so students should shop around for the best deal.

Signing bonuses are very attractive but sometimes hide an otherwise poor deal so a credit card that offers a $100 bonus if a student spends $500 in the first 90 days may not be realistic for most students as it specifically excludes expenditure on student fees.

0% offers can be attractive but students should check when the 0% expires and what the rate will be then, often these 0% offers only last for the first six months and do not apply to credit card balance transfers.

Credit unions affiliated with a university may often offer a good deal on a credit card so the student should check with their university credit union.

Check on late payment fees as some credit card companies do not make any charge whilst others don’t charge for the first time but increase the rate for future late payments.

Once a student has a credit card they should use it to increase their general credit score by keeping balances low and pay all bills on time.