Student Credit Card
Often students require money to pay their expenses. If the
student is not earning he/she might go to his/her parents or
guardian and ask for money. When they are not around and the
student needs immediate cash, the student faces a problem. So in
this situation a student credit card is very useful.
Many companies provide student credit cards and some of them
with nice offers. Aggressive companies offer low interest rates
and free application. Parents pay the bills if the student
cannot pay in time. Parents can limit the credit amount by
putting a voluntary limit on the card.
A good credit history always helps in the latter half of life.
So parents should teach their children about the importance of a
good credit record. All major credit card issuers like American
Express, Visa and MasterCard offer students credit card.
In first world countries like USA, Canada, UK, students pay a
very high amount to study in colleges. During the college days
students spend a lot. Companies target these college-going
teens. An average college-going student's credit card often
crosses a credit limit of USD 7,000. Many students have more
than one credit card. The inexperienced over enthusiastic
student uses the card haphazardly and usually crosses the card
limit and usually ends up paying the principal plus interest,
which ranges up to 20%. So it is advised to use the card
judiciously.