Student credit cards are designed for people, who study in college or university. They are available for people with little or no credit. So, the interest rates are usually higher than average. They are dedicated to people with little expenses, though they can cover the cost of studying.
Though such cards offer services that are profitable for students, it’s not a compulsory condition. You can apply for secured credit cards or regular credit cards. You don’t need a student credit card just because you study at a college or at the university.
Benefits of Student Credit Cards
As it was mentioned, student credit cards have some benefits comparing to non-student. There are some of them:
- These credit cards aren’t costly and some of them don’t contain annual fees;
- By not revolving your balance, it’s possible to lower interest substantially;
- It’s possible to establish credit by earning a bit of cash back or points for purchases;
- Credit card owners can receive a chance to get shopping protections and insurances from card issuers.
The main feature of a student credit card is the possibility of building credit without substantial efforts. It’s also possible to save money with rewards and extra benefits.