What Is the Advantage of Student Credit Cards?

Having a student credit card is important because it teaches the user financial responsibility and the importance of establishing credit history. It also gives the user a sense of autonomy. While a student credit card comes with many advantages, it also comes with many considerations.

Credit Cards

Students can become responsible with credit.

According to the Young Money website, a student credit card is only very slightly different from a standard credit card. It offers the student ways to build her credit history by allowing her to make purchases and pay them back in a timely manner. Credit cards are important tools for ensuring financial security in the user's financial future. According to Wells Fargo, credit card history can determine a person's ability to purchase a car, rent an apartment or buy a home.

Advantages

The student credit card has advantages.

According to the Student Credit Cards website, students who use a credit card learn about financial responsibility. Because parents tend to help students for most of their lives, using a credit card can provide a transition into monetary freedom and adulthood.

Credit cards are also great when students face emergency spending situations---if books, medicine or student expenses arise, the credit card can provide a financial net that can be trusted. Many cards come with special student discounts and promotions on textbooks, clothing and various other student-specific goods.

Considerations

Money mangement is important for students.

According to Student Market, student credit cards offer many monetary benefits. Many cards carry special lower interest rates so that students don't have to pay a great amount of money. Many also allow students a grace period with which to pay back their charges. Others also come with no annual fees and text messaging services that let students know about their balance.

Options

Make sure to read the fine print.

Use Card Ratings to search for student cards. Many cards give students perks and bonuses when they keep under their balance and pay their bills on time. According to Card Offers, some credit cards offer bonuses for students who maintain a high grade point average and others offer students points with each dollar purchase. The points are later redeemable for merchandise in popular retail or online stores.

Pre-Paid Credit Card

Fiscal responsibility is necessary.

A pre-paid student credit card may be a good option for a student as well. According to Creditcard.com, prepaid debit and credit cards allow users to spend an amount they have deposited onto the card. Many of these cards help to establish credit history and also offer student bonuses. A list of these cards and their details can be found at Creditcard.com.