Are you currently a student looking for a new credit card — maybe even your first credit card? Are you only able to work part-time? Or are you stuck in a relatively low paying full-time job until you finish your part-time education?

It isn’t uncommon for students to have limited financial means. But that doesn’t mean you can’t get approved for a credit card. You just need to look for some specific features like lower credit slimits (which are less risky to the lender) and low annual income requirements. Of course you’ll also want the cards to be affordable to you. If you don’t have much money now, you probably can’t afford high annual fees and interest rates.

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Students are sometimes in an interesting position compared to other consumers. They may have high costs (such as their school tuition), only a part-time job, and still be eligible for credit cards. Because of the common lower income levels, some students turn to those student credit cards as a means of primary financing — to pay for course credits, regular food expenses, or even nights out with friends.

Using student credit cards to cover or finance these everyday expenses (which would normally be covered by cash available or other financial options) is a bad idea, especially for students. read more..

Are you a student considering applying for your very first credit card? Are you sure you’re ready for that financial commitment? If you haven’t done your research up front, credit cards can get you into a lot of trouble. But when you go into that relationship knowing the risks and rewards, a student credit card can get you off on the right foot when it comes to building your credit history.

Let’s take a look at three things students should know about credit cards before applying for their first one, like the ANZ First Visa. read more..

It’s understandable that students want access to cards for convenience when they’re attending school. But which options should they choose? Debit cards tied to a bank account or student credit cards? Each has its own benefits, and each has drawbacks.

Let’s take a look at the benefits of both options, so you or the student in your life can decide which are most important. read more..

On a fundamental level there is nothing “wrong” with student credit cards. They can be used to purchase educational essentials like textbooks or just for added convenience while students are living away from home. They also help students start building their own credit histories. But there are risks too. Credit cards also give students the opportunity to get into debt at a young age — something that will likely stay with them for years.

Here are five examples of things students might do with their first credit cards (like the ANZ First Visa) to get themselves into trouble. While many will be responsible with those student credit cards, these examples are simply about highlighting risks and letting students know what kind of behaviour they should look out for. Using a credit card to finance any of the following things while in school, without the ability to pay them off completely every month, can lead to unnecessary credit card debt. read more..