My little passion for student credit cards
Building a good credit rating early on will undoubtedly help after graduation when the time comes to rent an apartment or buy a new car. Many lenders bombard campus bound college students with offers for student credit cards. Research the advantages and disadvantages of the various lenders that issue student credit cards before choosing the one you will do business with; reviewing the terms of the credit agreement is a good place to start. Also, parent and student should look for the APR (annual percentage rate), determine whether there is an annual fee for using a particular card, a fee for transferring balances, whether that lender requires a cosigner, and how much the student can afford to pay each month toward the card balance. Student credit cards offer protection for online purchases, which is a huge benefit in itself.