Tips for Picking the Best Student Credit Cards

Several banks and card companies offer credit cards for students, and some of those credit card offers college are better than others. Before you take the first offer of credit card that comes along, make sure you do your research and compare information, such as interest rates, fees and terms.

Here are some things to watch for and questions to help you reduce the list to the best student credit cards there.

What to Look For

*0% introductory rates to cover the higher standard rates. An interest rate of zero percent introductory lot like ... until he discovers, after the introductory period, the interest rate shot only 32 percent. Do not get sucked into the credit card application because of high interest rates, introduction tempting. When you make a balance, that the high level could end up costing hundreds more in interest than you saved with six months of zero percent interest.

*introductory rate - conditions. In addition to checking the standard interest rate on credit cards to college you are considering, be careful limitations on the type of presentation itself. Some input types only apply to balance transfers, not purchases. If this letter is your first credit card balance transfer rate preliminary would be useless because you have no credit card to transfer balances more.

*Taxes, fees and commissions. And the payment amounts and types of fees vary from one company. Request a list of all the fees the card issuer may charge. The best student credit cards do not charge a subscription or annual fees, annual or monthly fees tend to be more common reward card (although it should be able to find some that do not charge an annual fee). Most prepaid credit cards and credit cards guaranteed payment of a monthly or annual basis. When you are researching the prepaid credit cards, look for supplements such as reloading, ATM fees, charges, and is not used for (minimum) with the contributions.

The fine print. From 2010, the credit card agreements are easier to read because of "plain English" requirements of the new credit legislation. Make sure you read everything, no matter how boring - think of it as required reading for one of your favorite classes. Be alert, especially for what happens to your interest rate if you miss a payment. In many cases, once you miss a payment, a card issuer, not only remove your introductory rate, but you kick a "penalty" rate which is higher than the normal rate.

What to Ask

Fees

*Is there an annual or every month fee? or a one-time activation or “sign-up” fee?

*Is there a charge for making payments online or by phone?

*Is there a charge to replace a lost or stolen card?

Rates

*If there’s an introductory rate, how long does the introductory rate last?

*After the introductory rate period ends, what’s the standard rate of interest?

*Is the standard rate of interest fixed or variable?

*Does the introductory rate apply to purchases, balance transfers, or both?

*Will a late payment cause you to lose your introductory rate?

*Will a late payment disqualify you from the standard rate & trigger a higher penalty rate?

*What other fees are there, & when are they charged?

Grace Periods

*Is there a grace period on purchases before you start getting charged interest? If so, how lots of days?

*Does the grace period still apply even if you’re carrying a balance from the earlier month?

Rewards, Cash Back, and Incentives

*What rewards, if any, does the card offer?

*Do those rewards apply to purchases, balance transfers, or both?

*Do those rewards apply only to sure purchases or purchases above a maximum amount?

*Do the rewards or reward points die? If so, after how long?

*What other limitations are there in cashing in reward points?

*Does the card reward lovely behavior (on-time payments, staying within your credit limit)?