Q: Do you have to be a student to apply for a student credit card, or are these applicable for recent graduates as well?
Most credit card companies we spoke with will consider you for one of their student credit card accounts between your graduation date through the beginning of the following school year. Some issuers specifically ask for your school information on their applications, but most banks tend to rely on the honor system to keep prospective cardholders honest. Some strong student credit card offers include:Discover it® for Students
Discover Financial Services has made bold moves into the student lending market over the past few years, pairing its private student loan products with a revamped rewards credit card. The student version of the Discover it card matches its full-fledged cousin on almost every feature, making this a card you can expect to carry well into your post-collegiate life.Journey℠ Student Rewards from Capital One®
Although Capital One offers a variety of credit cards for limited credit, the bank's student credit card features a cash-back rebate that includes a bonus reward when you pay your bill on time. With no foreign transaction fee and no balance transfer fee, this card can act as a safety net against unexpected expenses, even outside the country.Citi Forward® Card for College Students
Citi's rewards program benefits students and recent graduates with one ThankYou point for each $1 you spend with the card. Over the course of your first two years with this card, when you make a purchase, stay below your credit limit and pay on time 3 billing periods in a row (0.25 percent each quarter 8X maximum) can result in an APR reduction of as much as 2 percentage points. This card's flexible billing options and no annual fee are plus.
Student credit cards can benefit you the most when you keep your balance very low and you make your monthly minimum payment on time, every time. Don't worry if your credit limit isn't very high. At this time in your financial life, focus on saving money and building banking relationships instead of diving deeper into debt.