Are you searching for a college student credit card for your children? There are a number of banks and credit card companies, which offer credit cards for college students. However, you need to understand which plan would be best for you. Credit cards let the cardholder enough leeway to spend beyond his limitations. College students often forget the boundaries while spending on shopping, since they do not understand the value of the money. This is the main area, where you need to give a second thought before handing over a credit card to your children. Moreover, the debts, which your children will make, will become your liability later on and will increase your debt.
Before signing up for credit cards for college student, you should therefore consider some crucial points:
In some college campuses, you can trace some doubtful agents to sell you cheap or free credit cards. It is advisable not to sign up for those plans. The cardholder should always remember that nothing comes free and the apparently free plan can make them pay higher amount.
Some educational institutions enroll the names and addresses of the students to the credit card companies for marketing reasons. You can stop this by asking your educational institution not to share your personal details with the credit card issuers.
Benefits of students credit cards: College student credit cards can give you freedom to spend according to your wish. Apart from the financial freedom, credit cards for college students can manage their own finances issues with the credit card. Credit cards also make them responsible and control their spending graph. The college students can develop a well-balanced credit history with the credit card, which can be beneficial for them in future, if they apply for a loan.
How to get college student credit cards: There is a proper procedure, through which a student can get a credit card. He needs to apply first fill in the credit card application form, which is available online. In order to reduce the risk factors, he can sign the application form by his parents. Parents can give guarantee for their debts. He needs to submit all details such as ID card of college, residence address proof, and passport photographs. After submission of all the details, the credit card company will conduct a primary investigation in order to check the authenticity. After the green signal given by the financial organization, the student can get his own credit card.
Best student credit cards in India: Citibank offers a number of credit cards for college students such as:
- Citi Dividend Platinum Select Visa Card
- Citi Driver's Edge Options Platinum Select MasterCard
- Citi mtvUTM Platinum SelectVisa Card
- Citi Dividend Platinum Select MasterCard
- Citi Platinum Select Visa Card
- Citi Driver's Edge Options Platinum Select Visa Card
- Citi Platinum Select MasterCard
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