How to Navigate the New College Student Credit Card Landscape

When it comes to navigating the world of credit cards, college students are in a unique position. On the one hand, they are a very special class of consumer, banks prize college-educated customers and offer them better credit card terms than their credit standing would suggest they merit. On the other hand, the new the CARD Act makes it harder than ever for college students to qualify for credit cards, since most of them are under 21 years old. So, what’s a college student to do?

Build Credit ASAP

Not getting a credit card shouldn’t really be an option. While it would be easiest to simply wait until they turn 21 to begin their careers with credit, doing so would mean sacrificing valuable credit-building time. Every month that a consumer has an open credit card account in good standing means positive information is relayed to his major credit reports, providing evidence of fiscal responsibility and in turn, boosting his credit score.

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Resources for YOU:

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