When you go to college there is one thing that you may find that you are always in need of, and that is cash. Whether it’s for books, school supplies, clothes, or just a bit of cash to have some fun in that rare free time cash is necessary to get through college. The problem is that most college students don’t have a lot of liquid funds, which is where credit cards come in. While you shouldn’t go wild and get every credit card that you come across just because they are available to you, a student credit card or two could come in really handy while you are in college.
The great thing about student credit cards is that they are not hard to come across at all. If you spend enough time on campus you will eventually find that there are credit card companies that will come right to you and help you with the application process and even give you free stuff just for applying for their card. This can be a great time to apply for a credit card because you may be offered great interest rates and you can also ask any questions that you may have as the representatives will be there to answer them for you. This will help you make an informed decision about having a credit card.
Another nice thing about student credit cards is that they come with very low interest rates. While you might find that there are credit cards that you can get that are not intended for students, you will be hard pressed to match the interest rates that you get with the student cards. Many times the student credit cards will have interest rates as low as eight or nine percent, and when you compare that to interest rates of other cards that are up as high as 28 percent it makes sense to go with the student credit card. This rate may only be offered for six months or a year, but this is better than nothing, and in some cases you’ll be offered these great rates for as long as two years.
Many students find that having a credit card in their wallet just gives them some assurances that they need, especially if they are far from home. A lot of students apply for the cards, get them, and then never use them but they like knowing that they are there. For instance, it is nice to know that if your car breaks down while on spring break that you have some way to pay for repairs or if you need to get some new books for class that your professor has recommended that you can pick them up without worrying about how you will pay for them. While you may not use them all the time, it’s nice to know that they are there, and that you have a great interest rate that will make paying off the debt easier than it would be with another card.