Tips for Finding the Right Student Credit Card

Credit cards for college students is a tricky subject. A lot of students aren’t very good with their money — what little they have — and the government has come down on credit card companies that aggressively market to students on campus. The CARD Act of 2009 has reduced the practice, according to a report from Credit.com, which citied a Federal Reserve study that showed new credit card accounts opened by students fell 17 percent from 2009 to 2010. Even though overt marketing tactics like free pizzas and t-shirts for students who sign up for credit cards are now prohibited, there are still lots of credit card offers made to students off campus, especially online.

Credit cards for students can be a good thing, if students use them wisely to build a credit history that can help them after graduation and not, as in many cases, to spend money they don’t have. Low credit lines may help fight temptation, but used unwisely and you’ll suddenly see over-limit fees and be in all sorts of trouble. Although we recommend not using credit cards as personal loans — if you need money that bad, see your financial aid office for an emergency loan — there are limited-time zero percent interest cards out there as well as a cards with a host of other features that would be useful for students. Read Full Story