Finding the best student credit cards can be an overwhelming task — especially if you’re a student with no credit card experience whatsoever. When looking at the best student credit cards, there are a few things the finest usually have in common. Here are the top 10 key things to look for: The companies that offer the best student cloned credit cards for sale firmly understand that a student isn’t going to have a long-established credit history, and they are not going to penalize you because of it. A good student credit card will offer a reasonable interest rate (15-percent or less), regardless of this fact.
Whether you realize it or not, you do not need a $5,000 credit limit while you’re in college. Remember, student credit cards should not be used to finance your college education — that’s what student loans are for. Student credit cards should really be kept for emergency purposes or budgetary reasons only. The best student credit cards offer sensible credit limits (less than $1,000) and will have a limit of one credit card per student. If a credit card company is willing to give you a credit limit of thousands of dollars, it’s just setting you up for trouble.
A grace period is the period of time from when your credit card billing statement closes to when the payment is due. Unfortunately, during recent years, some credit card companies have employed the less-than-ethical practice of all but eliminating the grace period. Some consumers have even reported receiving their credit card statement days after the payment was due!
The best student credit cards will offer a grace period of at least 20 days, meaning 20 days will elapse from the time the billing statement closes and the bill is sent to the time that the payment needs to be received.
Long-time credit card users know all too well that their monthly credit card statements also arrive with offers for special deals and purchases (such as magazine subscriptions or interesting collectibles). The best student credit cards will not bombard you with frivilous impulse purchase offers. Credit card companies need to take some responsibility for teaching you about responsible spending and the best student credit cards adhere to this philosophy.
Some student credit cards require an application and/or processing fee. However, the credit cards that require these are never the best student credit cards available. The best student credit cards keep fees to a minimum (foregoing the application fees, processing fees and annual fees) and usually only charge fees for late payments and/or over-the-limit transactions.