How to Compare Student Credit Cards With No Credit History

Students often have a limited choice of credit cards because of their lack of credit history.

It's difficult to get a good deal on a credit card when you have no credit history. Students often need a credit card for emergencies but find it hard to obtain one because lenders look askance at their lack of credit history.

Finding Credit Cards

Credit cards are available for students with no credit history, but the credit limits are typically lower than for other users. The best way to get a student credit card is through the bank that handles your savings and checking accounts.

Evaluating Each Card

Make a list of banks that offer credit cards to students with no credit history. You may need to contact the banks to get this information. Then list the criteria that are important to you, such as fees, interest rate and credit limit. View the terms for each card online and give each card a score from 1 to 10 in each area.

Comparing Student Credit Cards

Add up the scores of each card and rank them in order. The top-scoring card is the first card you should apply for; if you're unsuccessful, apply for the next one on the list.

References

• Visa: Learn the Credit Facts

Resources

• F1 Study: Credit Cards