| Student credit cards are geared primarily toward | | | | of the college student building a huge debt on an |
| college students. But there are many factors that can | | | | unsecured credit card. Once the money is spent, |
| make credit cards for college students the right | | | | there is no more for the college student to spend. |
| choice for young people. So, it is very important for | | | | Secured credit cards for college students are a great |
| all consumers, not just students, to first learn about | | | | way for parents to help teach their children to be |
| each type of available card and then choose the one | | | | responsible and independent while still providing a little |
| that is most suitable.Secured credit cards are one | | | | help along the way.Another benefit to using secured |
| type of card for students to consider. These cards | | | | credit cards for college students is that many report |
| are funded in advance of purchases and do not | | | | to the major credit bureaus. In this way, the college |
| actually extend a line of credit in the form of a loan. | | | | student can begin building credit without the concern |
| Rather, the cardholder sends money to the card | | | | of harming his or her credit rating by being unable to |
| ahead of time and uses those funds to make | | | | pay the debt off.For some college students, secured |
| purchases later. In essence, a secured credit card is a | | | | credit cards are not the most attractive option. One |
| bank account that does not earn interest, but can be | | | | reason is because there tends to be a great number |
| accessed easily with the swipe of a credit | | | | of fees associated with secured credit card. Theses |
| card.Secured credit cards for college students are a | | | | fees include application fees, processing fees, and |
| popular choice with many students and their parents. | | | | annual fees. There is generally also a fee associated |
| One of the reasons for the popularity of these | | | | with loading funds onto the credit card. Thought |
| student credit cards is the fact that it is not | | | | these fees usually range from $1 to $5, the fees can |
| necessary to have a credit history in order to receive | | | | add up over time.Another reason secured credit |
| the card. Of course, most college students have not | | | | cards may not be attractive to a college student is |
| yet had the opportunity to build a credit history. | | | | because the student is truly on his or her own and |
| Therefore, a secured credit card is an attractive | | | | unable to receive financial assistance from the |
| option. In addition, secured student credit cards | | | | parents. Or, the college student may simply not have |
| typically offer instant approval and do not require | | | | the funds available to place on a secured credit card |
| employment verification or even a bank account in | | | | ahead of time.No matter the reason, unsecured |
| order to receive a card.Secured credit cards are also | | | | student credit cards are also a popular option with |
| popular with parents because they can "load" the | | | | credit cards. Credit cards geared toward college |
| credit cards with as much money as they see fit for | | | | students are specifically designed for individuals with |
| their college student. Loading a credit card is simply | | | | little credit history. Often, the Annual Percentage |
| placing money on the card. Parents can generally | | | | Rate (APR) on these cards is higher than average. |
| choose to have money directly added to the card | | | | Therefore, it is best for the college student to pay |
| with each paycheck. Or, they can send money | | | | off the card at the end of each billing cycle |
| through the mail in the form of a money order or | | | | whenever possible. As with secured student credit |
| cashier's check. There usually are also banks that will | | | | cards, unsecured credit cards for college students go |
| accept payments to be added to the credit card.With | | | | a long way toward building the student's credit |
| a secured student credit card, parents can essentially | | | | history.Robert Willard recommends you visit for more |
| provide their college-going child with an allowance to | | | | free information, tips and advice on the best credit |
| pay for food, school materials, or any other need the | | | | cards for college students currently available. |
| student may have. At the same time, there is no risk | | | | |