In a financially savvy and driven economy where credit cards are no longer looked at as just a means of convenience, rather a necessity, there are many options for anyone looking to quickly and easily obtain one. In fact, even high school and college students now have options allowing them to acquire a credit card. A student credit card is one of these options and it will be explored in this short article. Student credit cards are pretty much used the same way as any other credit card but as the name implies are designed for high school and college students and often come with restrictions and limitations not normally placed on other cards.

Often times, a company issuing a student credit card will ask for a co-signer as a means of insurance or for credit protection. This person, usually a parent or legal guardian, takes on the responsibility of covering any debts that the student may incur that they are unable to pay should they choose not to send a payment in for their credit card balance. In other words, the co-signer is a back up source of payment that the credit card company can utilize or hold accountable should the student fail to make their credit card payment. Generally, the interest rate is higher on a student credit card when compared to traditional cards thereby minimizing the financial risk to the company. Also, the spending limit on a student credit card is usually between $300 and $750, significantly lower than credit cards not intended for students. This is due primarily to the fact that many of the students that obtain these cards do not yet have an established credit rating and most likely aren