Student Credit Cards - can be an asset if used wisely

If you are a college student and still feel you need a credit card there are a few companies that have very good offers with excellent rewards.

Two student cards that we have rated the best and that my children use to their benefit is the open road card and the tropical beach card from discover. They provide the best opportunity to establish a credit history and benefit from the rewards for everyday purchases. They mostly use them to purchase text books and gas.

A proper attitude towards credit is essential

A credit card is really a short term loan and needs to be paid on time every month. It is a tool to build a good credit rating and credit score, so you can be eligible for lower interest rates.

1. Never use your credit card for entertainment.
2. Never let a friend charge something on your credit card even if they say they will pay you back in a couple of days. It never seems to happen.
3. Don't leave copies of your statements or receipts lying around your dorm room. You may not know everyone that is at your party. Identity theft is a bigger problem than you may think.

For parents that don't feel there student should have a credit card

If you have family members away at school it is inevitable that they are going to need money. There are going to be times when you may need to send just about every student, emergency cash through western express or a check in the mail, but this can be inconvenient.

A better and simpler idea would be just to have their credit card with a low credit limit say 500 dollars or less. You could then just go online and top it up instantly. 

Or you could get them a prepaid student credit card. Personally I prefer my kids to have a student visa or mastercard with a low limit. This way they are building a solid credit history and higher credit score for the future.

With care and closer look at your bill every month will keep your credit secure

Once you have a new student card there are certain steps you must take to keep a credit card secure and keep a good credit rating. The obvious one is make your payments on time. Every month you should review your statement carefully.

Are all the charges yours and do they look correct.

Are there any unusual or unexpected charges? Your credit card company will correct legitimate errors, but only if you bring them to their attention.

If you have two or more credit cards with outstanding balances, consider moving them to the one with the lowest interest rate.

If you are receiving a new or a replacement card in the mail, sign it right away. If it is a replacement card, destroy the old card by cutting it into many small pieces.

Never fax your credit card number to anyone. When making purchases online with a student visa credit card look for https:// in the address, this tells you that it is a secure site. If you suspect anything no matter how small it is call your credit card company a tell them about it.

• You can compare and review other credit card offers from here.

Read this page about student credit card debt - before you apply for a student credit card