The Benefits of a 2 Year College Student Credit Card
Why every student should look into, at the very least, a 2 year college student credit card
Some people scoff at the idea of a 2 year college student credit card. They figure that you should either get a credit card or not get one, and the whole two year compromise seems silly to them. But actually, there are a number of good reasons to get a short term credit card even if you can get approval for a long term agreement.
Sound strange? Not really. Keep in mind that if you're a college student you're probably just starting out and don't have much of a credit rating. That means you're not likely to get approved for the very best credit cards. Credit companies bank on that because they know that the majority of people don't go to the trouble of switching cards.
In other words, if they can get you to sign up for their less than ideal card now, you're probably going to stick with it -- even though you could get a much better deal once your credit improves. A 2 year college student credit card circumvents that problem by forcing you to reassess your situation after your two years comes up
Why do I need credit cards at all?
Some people take the argument a step further and say that if the best you can do is a 2 year college student credit card, you shouldn't get any card at all. These people argue that credit cards provide too much temptation and that you don't have the income to get a good one anyway.
It is true that creditors look at your income, but that's only a small part of what makes their decision. A much bigger factor? Your credit score. And since your credit score comes from your credit history, never using a credit card gives you a score of zero. That certainly isn't going to help you get credit or loans in the future.
The best way to use any credit card is responsibly. Keep it for a finite time, set a low spending limit, and use it as a tool to build your credit score and history by making regular payments. That's part of what makes the 2 year college student credit card so ideal.
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