Apply for a student credit card today - get all the details in this article so you can prepare to apply for your card.  Includes what to look for when applying for a college student credit card and what you'll need to get started on the student credit card application.

One of the financial tools that you can use to help ease cash flow problems as a college student is a credit card. Additionally, using a credit card can also be a good way to build a financial foundation by creating a positive credit report. However, it is important to realize that a credit card can also create problems if used improperly.

Before you apply for a student credit card, you should carefully consider your financial situation and whether or not you can handle the card. After all, a credit card is a loan. It is important to make this distinction: A credit card is not a source of income, and it is not “free money.” It is a loan. It has to be paid back. And if you do not pay off your balance each month, you will also have to pay extra in interest.

Information you will need when you apply for a student credit card

When you apply for a student credit card, it is important to realize that you will have to provide some personal information. Here are some of the personal items that you may be asked to provide on your student credit card application:

• Full name.
• Social Security Number.
• Address.
• Phone number.
• Email address.
• Household income.
• Employment information.

Credit card companies use personal information to decide whether or not you are credit worthy. The information you provide allows a student credit card issuer to check your credit history. It also lets the credit card company decide how much your credit limit will be. Social Security Number and full name are used primarily for accessing your credit report to figure out what kind of limit you will have, as well as the interest rate you are given.

With a student credit card, however, some of the information does not have the same weight that it would for someone else. For example, a student may not be denied credit based on his or her income. Students who have even a part time job are more likely to get a credit line – and maybe even a higher credit line – than someone with a part time job who is not a student.

Address and phone number information allows the credit card company to verify your status. Additionally, it provides a way for them to contact you (email address is almost exclusively for this purpose). Credit card companies want to know how to get a hold of you to make special offers, as well as to notify you if something changes with your account. And, of course, the company needs to be able to send you statements and other important information.

Comparing student credit card offers

One of the most important things you should do when you apply for a student credit card is to compare offers. There are many options available for students, and you should take care to choose the credit card that will best fit your needs. Here are some things to consider about credit cards before you apply for one:

• Introductory offers. This includes 0% APR on purchases, free balance transfers and other initial offerings.
• Interest rate. Check to see what the APR on the student credit card will be after the introductory period is over. Try to find a card that is lower – and that has a fixed rate.
• Fees. There are many fees charged with credit cards. Find out what the over the limit fees, late fees and missed payment fees are. Find out what sort of balance transfer fees are charged. Try to get a card that charges fewer fees.
• Rewards. Check to see what kinds of rewards programs are offered. Choose a program that fits your needs, and that offers the best options for you. Double check to make sure that interest and other charges do not destroy the value of your rewards.

Realize that when you apply for a student credit card, you may not get the exact deal that is being advertised. You may not get as a high a credit limit as is advertised, or the same rate. Credit card companies often adjust their offer after they check your personal information.

Also, be careful about how you apply for a student credit card. If you apply for too many in too short a period of a time, it can be detrimental to your credit report – not to mention represent the potential for you to get into a cycle of too much debt. Choose your credit card carefully, and only apply for the one that works best for you.