Student Credit Cards – No Credit?
I kind of laugh when I hear someone say, “I have no credit, what kind of card can I apply for?” Well, when you’re a student, I’m just going to assume that you don’t have a credit history. Since your typical college student is a 18-22 year old young adult, I believe it’s safe to say you haven’t had a credit card for too long, or even have one at all.
Just because you have no credit, doesn’t mean that you’re not going to be approved for a card. Thanks to Obama’s wonderful new CARD ACT, you’re going to find that it’s going to be a lot harder to find a card that works for you.
If you’re looking for a card, you’re going to want to make sure that you’re following these minimum requirements….
* You must be at least 18 years of age. No credit card company will assign a card to one that isn’t an adult yet.
* If you’re under the age of 21, you’re going to want to be able to prove your income. I believe you won’t be able to get a credit limit higher than 25% of your gross income.
* If you can’t prove your income, you’re going to need a co-signer. This may be tough, but ask a family member on this one.
When you have no credit, I would recommend that you look a the Discover line of cards, as well as the Citi line. Both are great companies and they both have a fairly high approval rate, as long as you meet the minimum requirements that I mentioned above.
By: Tom Tessin
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Have no credit as a student? Who cares! If you’re looking for a college credit card, take a long at my top list to see which ones will work out for you!
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