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Find the Best University Credit Cards on the Internet

By: James Millner

Student credit cards have been criticized over the last few years; people wrongly assume that credit card companies are zeroing in on needy university students. The reality is that a credit card is much like a weapon, in good hands it can be helpful, but in the wrong hands it can be misused. There is no denying that student credit cards are available to young individuals, but the truth that most student credit cards usually need a co-signer ensures student credit cards are used under supervision. In addition, most university credit cards have a low credit limit making it hard for a student to spend overspend.

Compared to regular credit cards, a college credit card is issued to students that usually have no prior credit history. Credit card organizations generally require the student’s guardian/parents to perform as co-signers, ensuring a responsible adult is part of the entire process. A credit card company takes the credit history of the co-signer (student’s parents/guardians) into account and then issues a student credit card. A typical college credit card has a credit limit of ($500 to $5000) and the credit limit can change depending on the company that is issuing the credit card.

Student credit cards have low credit limits because they are designed for costs like books, stationery and other expenses a student is expected to have on a weekly basis. In addition, most university credit cards also have high APR s (Annual Percentage Rates or interest rates), making them unsuitablepoor for purchasing costly items. From a student’s point of view, apart from being a source of much needed cash, student credit cards also offer features like discounts at book stores and stationery stores. This allows students to put their college credit card to good use while saving cash on necessary purchases.

Student credit cards also offer specialized reward point programs. For example, some credit cards give credit card holders the opportunity to earn reward points that can be redeemed for discounts on airline expenses and fuel charges; students that travel regularly benefit greatly from such reward point programs. In addition, most university credit cards also offer 0% APR for a limited period of time (as an introductory offer), students can then use credit cards for making purchases while they settle down, without having to worry about high interest rates.

Almost all major credit card companies offer student credit cards, and college credit cards can be further categorized based on the discounts they offer. For example, some student credit cards offer gas discounts, while others offer discounts on stationery expenses. The biggest advantage of student credit cards is that students build up a credit history by the time they graduate and are eligible for a number of credit cards after finishing school. Students can also change their existing college credit card into a full fledged credit card. University credit cards offer ready cash, discounts and specialized reward point programs that are beneficial to students. In a nutshell, a responsible credit card holder stands to get a lot from a college credit card.

Article Source: http://www.articlesinsight.com

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