Credit cards for students are not a new phenomenon. For well over a generation now students have been relying upon credit cards to help them manage their way through college. Why carry around a lot of cash when you can just say, “charge it?” No worries about your student losing their money, running out of funds, or giving you a call at 2 a.m. telling you that her car broke down. A credit card is all that is needed to cover towing back to campus or to the local garage.

Shopping for credit cards for students means comparing offers. Don’t simply rely upon whatever offer comes in the mail nor should you feel compelled to use your current credit card provider. Credit cards for students, especially those who take your adult child’s current educational needs into consideration can be useful provided they offer the following to you:

• A low or zero percent introductory rate.

• No annual fees.

• Rewards points toward discounts at hotels, on future purchases, etc.

• Electronic payment options and electronic statements.

• Flexibility: a “float time” to allow for your student to pay the credit card every month.

Some credit cards for students will require that you, the parent, co-sign for your student. Others may try to tack on a higher rate if your child has little or no previous credit. Always negotiate directly with the credit card provider to ensure that the rate you will receive is the lowest one possible.

Of course, you will need to work out a plan with your adult student on card usage, budget, making payments, and more. Securing credit cards for students can be an education in and of itself. Make certain that all parties concerned understand what is required of each and use this opportunity to help your adult child achieve some independence. They will be grateful to you in the long run!
 

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Copyright 2006 – For additional information regarding Matt Keegan, The Article Writer, please visit his blog for wit, quips, and freelance writing tips.