The Sensible Way to be Approved For A Student Credit Card
If you are new to the credit card game, you probably don't have idea on how the credit card market works. Before most people apply for their first card, they do not even think of what kind of cards they can apply for. Most appliers make the mistake of applying for the first credit card they see which is a big mistake because most of the time these cards are designed for people with established credit.
When people start their hunt for a credit card, they never think of the options. If you're going to school, you can be a huge candidate for a college based credit card. A student credit card is made for a student going to college and if you have no credit or you have credit, the chances of being approved are great. Now, if you are not going to college, you will want to look elsewhere such as a first time credit card or possibly a secured type credit card.
Now, the question everyone wants to know is how exactly are you approved for a student credit card? As I mentioned above, if you do not have any credit at all, you're going to be the best candidate. This is exactly what the companies are looking for. They want someone that has no credit at all so they can swoop in and grab them as a customer. They are hoping that throughout your life, you will choose the credit card company that first approved you.
The reason why student credit cards are so easy to get is that companies generally give you a very low limit of about three to five hundred dollars. They figure that if you do not pay off your bills, you will have your parents to rely on since most college students keep in touch with their parents. The process of applying is nothing different from a regular card if you have looked at those applications before. The application requires some personal information such as your address, name, social security number, and a few other questions.
Being approved for a card is not hard at all. Just make sure that you are honest on your application and that you do your research on the card you want to use for the life as a college student. You will not want to apply for a card and find that you do not like it. The more cards you open up, the more credit you will be open to on your credit report making the chances of you getting more cards in the future very slim.
Knowing your FICO score is the first step toward understanding your credit picture. Score Watch® is a great way to get your current FICO score and credit report and then continually track your score going forward so you will understand the factors that are affecting your FICO score.
Once you get how the game works and you learn how to use your card properly, you will find that you'll be able to apply for any card in no time. It usually takes a few years to establish your credit before you can apply for a regular based credit card. Make sure that you are responsible with your card and you make your payments on time. If you can do this, any credit card can be in your future.