Credit Card Options for College Students On the Rise

The question often arises, which credit cards for college students are available to help them build that often allusive credit?  It’s no secret that people in these hard economic times are relying more on credit cards to pay bills and make purchases. Because of this fact, some recent changes in legislation have brought new credit cards that now offer more options for those new to establishing credit.  So what are these options?  Can college students breathe a sigh of relief?  We think they can.  More on that in just a little bit.

Realistically, college students make up the bulk of Americans who will enter the financial playing field with a clean credit slate.  The problem with this clean slate is that in the case with no credit history, none is often worse than having bad credit.  Due to the fact that college students have never taken out loans (in theory) or have any previousCredit-Cards-For-College-Students-With-No-Credit credit cards, lenders are unwilling to take the risk.  Bad credit is something that can be built overtime, however, no credit means that creditors take a gamble because they haven’t seen how well you handle payments or spending. This can leave college students in a tight situation, however, there are credit cards for college students, and they’re becoming widely available.

The Prepaid Credit Cards for College Students

The easiest way for college students to build up their credit is to opt for a prepaid card.  These cards do not require a credit history, and can be used to make in-store and online purchases like any normal card.  College students can also use these cards for bill payments.  This all comes without the worry of reaching a credit limit and there are also sweet cash-back rewards available on some prepaid cards.

But don’t go too crazy just yet college students, it’s best to do some research before opting in for the pre-paid route. Be sure to confirm that your credit will in fact be reported.  Prepaid cards like the Bankcorp Bank Purple Diamond Prepaid Visa Rushcard charge an activation fee, but help students build their credit.

Credit Cards Specifically for the Students

There are also several non-prepaid options when it comes to finding credit cards for college students.  Students should find cards that are specifically for students.  Student cards likes the Citi Forward and Discover Student Card give college students an opportunity to earn cash back and rewards while establishing great credit practices.

It’s definitely no secret that in these hard economic times, the credit card is needed now more than ever, however, young adults can begin to feel that there simply aren’t enough available credit cards for college students.  Although it can be tough for college students to get their first credit card, there are options available to students that can help them build up a credit history.  Whether students are planning on using a credit card for bills or just entertainment, it is important for students to be educated on the dozens of credit cards for college students and the different options.


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