Know more about College Credit Cards
Written by kiwi on June 16, 2008
As the name suggests, ‘College credit cards’ are ones that are meant exclusively for college going students. They are also called ‘Student credit cards’. This enables students to gain exposure to credit cards. The functioning of these credit cards is quite similar to other ordinary credit cards. However, there are some distinctions. They are:
· Most students do not have any form of credit history.
· The supplier of the credit card thus faces a risk while issuing cards to such students.
· Parents of the student seeking such a credit card have to co-sign the application form of the credit card as a guarantee.
· The credit limit on such credit cards is comparatively lower.
· The rate of interest is quite high in order to discourage students from overspending.
Thus, college credit cards are quite beneficial and feasible for students around the world.
Posted in: finance
