Every credit card company has their own distinct set of qualifications for student card approval. If you’re a student, you’re eligible for a student credit card starting at age 18. In other words, what are student credit card age limits and requirements? Age Restrictions Now that you know how valuable student credit cards can be, you’re probably wondering how to get a student credit card. Student Credit Card Requirements for Age and Income These are perks that plain old cash doesn’t have. 3 There is no limit to how much Discover will match. That means you could turn $50 cash back into $100. There is no limit to how much we’ll match. Discover also offers Cashback Match, an unlimited dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically. ![]() With Discover it® Student Cash Back, for instance, students earn 5% cash back on everyday purchases at different places each quarter, up to the quarterly maximum when you activate. Many credit cards for college students offer cash back rewards that are tailored to the student lifestyle. Learn how credit scores work, 35% payment history, 30% amount of debt, 15% length of credit history, 10%credit mix, 10% new creditĪnother benefit of some student credit cards is that you can actually earn cash back when you make purchases. Regular, responsible use of a student credit card-as well as making on time payments on all your other loans-may help you earn a good credit score through improving your performance in all of the factors that contribute to your credit score. 10% is new credit (how many new accounts you’ve applied for and recently opened).10% is credit mix (how diversified your borrowing is).15% is length of credit history (how long have you had credit for).30% is amount owed (how much of your credit limit you’re using).35% is payment history (how many payments have you missed).A FICO Ⓡ Score is the sum of several factors-below shows how each category impacts FICO® Scores for the general population: They’re calculated with algorithms created by the Fair Isaac Corp., which is why they’re called FICO® Credit Scores 2. According to Experian, FICO® Credit Scores generally range from 300 to 850. Let’s dig deeper into how credit scores work. ![]() Student credit cards may come with low introductory APRs (or interest rates), which can help students save on interest during the introductory period. Learn how to manage your finance, low credit limits, track spending, tools to pay bills ![]() With a student credit card, the goal is to build a foundation of borrowing and repaying in a responsible way, not overspend just because you can. ![]() With the Discover it® Student Chrome credit card and accompanying mobile app for example, you can track spending and manage payments, mobile alerts, and rewards. Student cards are also frequently accompanied by tools and resources that can help you build good credit habits too. Student credit cards often have low credit limits, which can act as a guardrail as you learn how to manage credit as a student. Student credit cards can kick off your credit history and, if used responsibly, can help you get you on the right path. Some student credit cards, like Discover it® Student Cash Back or Discover it® Student Chrome, offer spending and security alerts to help you manage your credit card account. It’s a credit card that’s tailored to first-time cardholders who don’t have a long (or any) credit history. Your credit score can be used by lenders, cell phone companies and landlords to determine your eligibility for their services or the interest rates on money you borrow.īut how do you build credit history as a college student? A student credit card is a great first step.
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