Discover® Open Road^SM Card for Students

When shopping for college student credit cards, it's a good idea to take out a card for a specific purpose. As college students, it can be very tempting to want to use credit for non-necessities. In reality, the card should really only ever be used in emergency situations or for a very specific purpose, such as buying books or groceries, and then paid off on time every single month.

 

One of the primary differences between a credit card and other types of college credit cards is that a student who is under 21 years of age generally must have a co-signer in order to take one out in their own name. Some cards will allow a student to take a card out without a co-signer providing that they have reliable income, but generally speaking, each card company will set their own limitations on this front.

 

TIP: Some credit cards for students come with steeper fees due to the higher risk of defaulting when loaning to college students, while others may be a little more forgiving for those who miss a payment date now and then or who go over their limit by a few dollars. In any event, it's always important to read the fine print. Where one college credit card can be quite manageable and quite easy to pay off, others may trap students with steep fees, fines and harsh rates and penalties. Make sure to read any card contract through thoroughly and make absolutely certain that you understand, and are comfortable with, everything that signing on the dotted line entails. Even the fairest credit or debit card contract still carries some risk for the borrower.

 

A student card can be immensely liberating for a young person who is out on their own for the first time, but this card must be used wisely in conjunction with a planned spending budget. By teaching fiscal responsibility and empowering students to cover many of their own expenses, a college student credit card offers a sense of freedom for young adults attending college or university. Students are advised to compare as many credit cards for college students before completing any single card application.