Best credit cards explored
Student credit cards work just like credit cards for established consumers, and because they're developed with students in mind, young people with no credit history are more likely to qualify for them. However, the tradeoffs for getting credit with a risky credit history are extra fees and jacked up interest rates. Sometimes, credit cards designed for students also come with unnecessary extra fees that credit card companies hope students will accept because they are too inexperienced to know these fees are not normal. Here's how to tell the good student credit cards from the bad ones. * What is the interest rate? If the APR (Annual Percentage Rate, meaning the standard interest rate) is at or within a couple of points of the APR of a regular credit card, the offer is good.