Guaranteed Student Credit Cards Applications

by Mack Bartlett

There are many offers out there for young college students to get credit cards. You need to be careful not to run into problems and understand what your obligations and potential results are with any credit company no matter how good their history is. A guaranteed student credit card is more often then not a secured credit card that is going to require some type of financial deposit. Usually it will be a deposit around the same price as the amount of credit that you are getting extended.

For many college and high school students it is all about building credit history. It is best to probably initially team up with a well known bank with a good background. Wells Fargo has a good plan as far as student accounts go and I am sure the same can be said for other national banks. There are options online, but I suggest that you are truly careful and I would recommend going to local banks or at least calling them to get an idea as far as fees, interest rates, initial deposits and other requirements that they will ask for.

Make sure if you are to go and apply for a card that you bring two forms of identification and also your social security number. This will make it a lot easier for you to fill out any forms. You will usually find bankers helpful for your initial credit card. If you do it online it might be good to have an adult that has a good long history with credit cards present. You want to make sure that your first experience is a good one. Especially if you want to build credit to buy a car or eventually a home.

Credit Card’s Application For College Students

Always be careful about your credit cards that you apply for as a college student. You might get a little riskier and want to start impressing people by using a companies money like it is your own. Listen to what I am about to say…don’t! Use your money and don’t spend what you don’t have. Use your credit card as an extension of your debit card. It is a simple process and it won’t create a lot of stress and bad habits. You want to start doing it right the first time.

Now you might get excited about things that you read like a low interest rate or a fixed interest rate. Well make sure to read the fine print. Go over your Terms and Conditions. You might see a place there where it says “Change in Terms”. This means really, “What you see is not eventually what you are probably going to get.” Read these terms because as long as the credit provider gives you a 15 day advanced notice, they can change the interest rates on you. This can be done potentially each month. If you miss on a payment or two then expect your rates to double or maybe even rise from 10% to 25%. That is not fun. So play it safe with your credit cards and pay them off often to avoid the crushing blow of low credit.