Educate yourself about credit card applications
The wise lender views college students as risky to start and will issue student credit cards with low borrowing limits and higher than average interest rates until the student establishes a good credit history. That good credit rating will go a long way after graduation when the student decides to buy that first car or rent that first apartment. College students are typically bombarded on campus with offers for student credit cards. Before deciding on one of the many lenders who issue student credit cards, be sure to research the various companies to learn the advantages and disadvantages of each one; reviewing the agreement terms is a good place to start. Also, parent and student should look for the APR (annual percentage rate), determine whether there is an annual fee for using a particular card, a fee for transferring balances, whether that lender requires a cosigner, and how much the student can afford to pay each month toward the card balance.