How to get a student credit card

by on June 16, 2010

How to get a student credit card in tough financial times?

Until recently, students were the target market for all the companies issuing credit cards. It was a very wise marketing strategy but this worked only in its initial stages. With the credit card in hand, many college students had hopes of using a lot of financial free will to their advantage. As they hoped they got to do what they liked. With the owning of a credit card becoming a trendy rage, many students followed the crowd and took up credit cards irrespective of weather it was necessary or no. when a student credit card holder used his card to the limit without repaying the credit balances, there were many other competitive companies which were ready to issue a credit card.

These companies had a flaw in their marketing strategy. They issued credit cards without looking into the financial background of the college student. These flaws lead to the situation of many students being immersed in debts, even before they left college. On the worse part, they lost the credit history to wrong and a spend thrift nature at a very early stage.

Taking into consideration all these factors and flaws of the student credit card system, there were a few changes incorporated into the system. The availability of a student credit card is now very difficult. It has been the first few times that college students have found it difficult to obtain a student credit card. Though it is taken to be a good option of a student having a credit card for emergency purposes, it does not make it any less tough to get a credit card.

When you are experiencing a tough financial time and you are do not own a savings bank account then, opt for a credit card. Here are few tips which will help you get a student credit card.

  • The internet- the internet is a vast source of knowledge which will help you find a company and credit card that suits your needs. There are companies which have higher interest rates but are issued to college students very soon. If you are willing to pay a higher rate of interest, then opt for it.
  • Ask your bank- many banks give credit cards to students who have maintained a clean chit and a good credit history in the past. If you are one of them, then you can request your bank to issue a student credit card on the basis of your credit. Explain the situation of financial crisis that you are facing and you are sure to get a student credit card.
  • Turn to your parents- they are the best option you have. Many credit card companies and banks willingly issue credit cards to students whose parents vouch for their credit account. Or you can also ask your parents to add you as a user to their credit account. This would be a much faster way. You will get reports of your credit balances on a regular basis. However, you should realize the fact that the credit requirements of your parents will surely affect yours. If they spend a little more on one odd occasion, they you will not be able to avail enough credit.

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