Student Credit Cards

The first thing to ask yourself before applying for a student credit card is, do I really need one, as most student credit cards charge a higher than average interest rate. It would be better if you went for a student loan or used your savings (if you have got any). If you feel that a student credit card will be of use to you, then you have a number of different choices to make. Students are not generally looked upon as a good credit risk (Get Away! I hear you shout). However, interest rates for student credit cards vary quite considerably and are dependent on a number of things. If you as a student already have a bank account, then you are looked upon as a relatively good credit risk, and as such should be able to qualify for a student credit card that your bank provides with interest charges around 15% - 19%. For those students that have a somewhat misty credit history, student credit cards are still available, but with interest rates of between 30% -40%.

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