Student credit card

I came across the topic student credit card. Is this similar to an extension credit card ? I wonder how can astudent be priveleged to have a credit card if she or she does not have a regular income yet.

Well even I saw this, if you are over 13 you can have one. Well it seems like that you have to have a bank account with money on it.

I don't think that they will let you take as much as money you want without any backup for the bank

[Jeremy]

They're for college students, not high school. Most do have some source of income, either from a job, student loans or parents. They're VERY common. Here's a list of several dozen available. Student Credit Cards

Quote:

Originally Posted by Jeremy

Most do have some source of income, either from a job, student loans or parents.

What is the minimum limit of your income? Will they accept any type of income or you need to have a good source of income?

It's hard to believe that a student under 18 with no income can have a card. Most banks won't let anyone under 18 have a checking account unless it is opened as a secondary under a parent's primary.

The bank where I hold my account let my son open an account that way. Even the teller that opened it for us said that that rule is so outdated. They can drive and vote, in some States, at 16, but can't open an account until they are 18.

DCMerkle

[Jeremy]

Most won't. It's not illegal to give someone under 18 a credit card, but if they don't pay the bill and you don't have a co-signer the bank has no way of collecting. So most won't issue a credit card to anyone under 18. It happens by accident occasionally though.

Is this college or high school?
Smart move on the credit card companys doing this.
High school students rarely have a steady income and college students often struggle.

Quote:

Originally Posted by DCMerkle

It's hard to believe that a student under 18 with no income can have a card. Most banks won't let anyone under 18 have a checking account unless it is opened as a secondary under a parent's primary.

The bank where I hold my account let my son open an account that way. Even the teller that opened it for us said that that rule is so outdated. They can drive and vote, in some States, at 16, but can't open an account until they are 18.

DCMerkle

Well my bank allows even 13 year old students to have a credit card, but I don't know how exactly it works, I think that you need to have a bank account with them with some amount and then making your card on that account, once your balance reaches 0, it stops you from using it.. I think it works something like that.

I could get one under 18, if my parents co-signed. Meaning the CC would be a joint account with my mother or father and myself. However, I got mines when I was 18 and therefore just created my own account. I had a job at that time, so they gave me a CC.

Credit Card companies, literally, prey on college kids who have no money, and love to shop. Ironic, huh? Well, not really... Actually it is very smart, on the credit card companies thinking, because you probably don't have a credit card and every card company wants you to have, and use, their card first; you're most likely debt-free, so you have great spending potential. You're inexperienced and prone to overusing your credit card, which spells
P - R - O - F - I - T for card companies.

Your business is so important that credit card companies may offer you gifts— a free Frisbee, T-shirt, or coffee mug—and other trinkets.

They just want to get your application. And they want you so badly, they'll likely approve your application even if you're currently without a job.