Tips and Advice – Student Credit Cards
It is critical for young people to learn responsible credit card use from an early age. Many students leave school with several thousands of dollars in credit card debt because they never learned the basics. It’s important to understand how credit cards work, and the value of starting their adult lives on the right foot financially.
Students, particularly those who live away from home, increasingly need the ability to make purchases with a credit card. But most don’t have the income to cover the bills, so finding a credit card for students with a lower credit limit, parental or co-signer features, and setting clear guidelines for credit card use is important.
Anyone under the age of 21 must now have an adult co-signer on their account, or at least must be able to provide proof that they have a large enough income that would allow them to make their own monthly payments.