Feb 24 2008
Credit Cards For High School Students
Students in high school that are looking to start building their credit early can get high school student credit cards. These credits cards can help teach high school students responsibility, and how to manage their credit at an early age. These types of credit cards are issued to high school students, with a parent or guardian co-signing with the student. Students who have these credit cards also have a sense of responsibility as well.
Before applying for a high school student credit card, both students and co-signers should always look at their available options. There are a lot of banks and credit card companies to choose from, which makes it in your best interest to look around. Some cards will come with high APR and a high annual fee, while some are more reasonable. With high school students not having any credit, some banks and companies will try to charge unreasonable rates - which is reason enough to do your research and know the best deal.
Co-signers can normally help students to make the best decision. The co-signer will be going on the application with the student, and will be the individual that the bank or company will come to when the student is unable to pay the bill. Parents and co-signers will know the best deals for credit cards, which is students should always ask them for help when picking out the ideal credit card.
For some students, prepaid credit cards can be an ideal investment. These cards hold absolutely no risk for students, while they help to teach financial management as well. With these high school student credit cards, the prepaid amount you have put on the card is your spending limit. To ensure that the application for is filled out correctly, students should always have a parent or guardian assist them with filling the information out.
When a student gets their credit card, they should be instructed on how to properly use the credit card. Although some students will be tempted to run up their high school student credit card, they should save it for emergency situations. At the end of the month, they should try to pay their whole bill, to avoid getting into debt. If a student can pay the bill - it will also help boost their credit.
If you are interested in a high school student credit card, you can always apply for one online. The applications are processed in a timely manner, normally giving you a response in a matter of minutes. Although credit cards are great to have, prepaid credit cards are sometimes the way to go with students. If you are unsure - make sure you look into all options available to you and compare what you find out.
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- WHAT SETS A STUDENT CREDIT CARD APART FROM OTHER CREDIT CARDS
- Credit Card Debt
- THE BEST CREDIT CARD REWARD: FOR THOSE WHO HAD BEEN NAUGHTY AND NICE
I think it is too dangerous for highschoolers to get credit. I got credit cards my freshman year in college, and I was $10,000 in debt by the time I was a sophomore. Not good. I was too young. I think people should wait until they are out of college before they even THINK of getting a card!
I don’t agree with credit cards for high school students.
I understand the pros but I think we are too much of a plastic world already, and are in enough debt, no one saves money anymore, we just continue to spend what we don’t have.
I know for myself, I am busy teaching my kids to save for the things they want, not to make payments on them.
I want my kids to be better than me with money. I just don’t think a credit card is going to help.
Kids in college aren’t even always responsible enought with them, and they are classified as adults in some countries.
While I appreciate they’re available to high school students, I think I’m going to make my kids wait on establishing credit - at least until they’re nearly out of college. A debit card seems like a better idea to me at that age.
My son is just about to get out of high school and his is 18 now, so I want to help him make good decisions about his credit.
Perhaps mandating a checking/savings account first, and then a credit card if you can handle those.
And I think that age - it is not so important. If the young man remains serious and collected, then nothing wrong with it will not happen. Young people need to trust. Then they become serious about finance.
Asking someone not to take credit card just because afraid that they overspend is just ignorant. It’s not the credit card’s fault. It’s the person using it that can’t control it properly. Credit cards have lots of advantages if you know how to use it right.
I don’t agree with credit cards for high schoolers. I have a 21 yr old just finishing her jr. year of college and by having to work, apply for grants and loans for school she is just now understanding that money doesn’t grow on trees. If she would have had a credit card in high school she would not have had the money for her first year of school.
Oh my, I’m agreeing with the other folks - high school students with credit cards, frankly, scare me. Maybe it depends on the kid, though? And maybe if mom and dad keep a REALLY tight reign on the spending and talk to the child about budgeting, etc., it could be a good learning lesson… So they don’t get to college, get credit cards for the first time there and get themselves into debt. Wow, things sure have changed!! (Was in high school/college in the 80s - no credit cards on campus then, we had to scrounge for quarters to buy lunch…)
Haha… I have one prepaid credit card too.. Since I can’t show any salary proof, It’s useful for me to register the paypal account but not really in purchasing.