Do You Have To Be A Student To Get A Student Credit Card,

Student credit cards are meant to ease new borrowers into the world of credit, allowing them to use and pay off a simple card with a relatively low credit limit. Does that mean you have to be a student to start building credit with a student card, Usually yes, but don't give up if you aren't.

If you're looking to build your credit, you still have options for achieving this important goal. It helps build good habits: The only way to build a good credit score is to use borrowed money responsibly. Practicing good credit behavior such as paying your bill on time each month and keeping your balances low helps improve your credit and will ultimately save you money in the form of lower interest rates in the long run.

It gives you more time to establish credit: The length of your credit history makes up 15% of your FICO score, so the longer you have accounts in your name, the better. Of course, simply having accounts open for a long time will not excuse bad credit behavior in other areas. You can get better credit cards earlier: If students maintain sound spending habits, they'll eventually have the opportunity to move on to higher-tier cards with more features.

Upper-level credit cards usually come with big sign-up bonuses and extensive reward offerings that can save cardholders money on everyday purchases. As the name suggests, student credit cards are almost always reserved for students, and most require applicants to provide their school information. One notable exception to this rule is the Journey Student Rewards from Capital One, which does allow non-students to apply.

If you are a student looking for a student card, options like the Discover it for Students and the Citi ThankYou Preferred Card for College Students are also worth a look. Not in school but want to build your credit, For non-students looking to build on average credit, there are still plenty of options available outside of student cards. If you have average credit and are looking for a card that offers cash back on all purchases, the Capital One QuicksilverOne Cash Rewards Credit Card has one of the highest rewards rates available.

This card offers an unlimited 1.5% cash back on all spending, which means no rotating rewards categories and no wondering if you're spending at the right time in the right place. The Capital One QuicksilverOne Cash Rewards Credit Card also offers access to a higher credit line after making five monthly payments on time. 39, but if you use the Capital One QuicksilverOne Cash Rewards Credit Card as your main card throughout the year, the cash back should balance that out in no time.

People who spend on gas, groceries and utilities will feel right at home with The Barclaycard Rewards MasterCard, earning an unlimited 2 points per dollar spent in each of those three categories, with 1 point on all other purchases. That's a solid deal considering how common the 2X rewards categories are; few people will find it difficult to spend in any of those areas. Redemption is flexible, and cardholders can exchange points for statement credit, gift cards or merchandise.

0. So if you're not transferring a balance or financing a purchase, and you'd like to earn a little more on three everyday categories, this card may be the better choice of the two. Student or not, many cards are available for people trying to get a head start on building credit. As always, it's best to find an option that fits your particular spending needs. This article originally appeared on NerdWallet. Kevin Cash is a staff writer covering credit cards and consumer credit for NerdWallet.

1,292 in credit card interest per year. 17 more on interest per year may not sound like a big deal. But when you consider that more rate hikes are expected as the economy improves, it's easy to see how this could slowly add up. The sooner you pay down your debt, or transfer it to a card with a lower rate, the better. If you want to avoid those increased interest rates, I recommend moving your debt to a card with a 0% APR promotion.

The prime rate increase affects just about every credit card's ongoing interest rate, but those 0% promotions are relatively immune to changes like these. Though issuers could bump up introductory interest rates on 0% APR offers, they probably won't. Credit card issuers have continued to offer these promotions since last year's rate hike, which was the first increase in nine years, and they offered them before 2006, when interest rates were much higher. Given the fierce competition among issuers, this probably won't change.

For consumers tackling credit card debt, this means you can still pay down your debt interest-free, after moving your balance to another card. There's a catch: Not everyone can qualify for a 0% APR offer. Generally, you need good or excellent credit. But if you're able to get one of these cards, you can potentially save a lot of money by transferring your balances -- or even just part of a large balance.

After the promotional period ends, your interest rates will go up, so it's a good idea to pay down your debt during the 0% period, if you're able. If you're debt-free, congratulations. Now you have more incentive to save your money for the future. Fed rate changes don't guarantee a point-for-point improvement in your APYs, but they can encourage banks to give more back to their consumers. If there's an increase to savings rates, it will be small -- but any improvement is welcome.

And if your savings account resembles a mattress, piggy bank or sock drawer, now's a great time to open a proper account. Cash stashed around your house only loses value over time, thanks to inflation, and interest yields at banks help lessen that loss. 497.33, according to a recent NerdWallet study. Boost your savings by cutting those losses, and take advantage of the potential for rising interest yields.

Nerd tip: If you've had problems with ChexSystems in the past, now is a good time to start fresh. See whether your local bank or credit union offers a "second-chance" program. A sign of better economic times, These rate increases, as confusing as they are, can ultimately be a good thing for your pocketbook. The near-zero interest rates we saw between 2008 and 2015 were meant to help the economy bounce back from the financial crisis.

Keeping these rates low for too long could ultimately lead to inflation, which could hurt everyone's bottom line -- and it's these low rates that have kept your savings from growing more quickly. So take a step back. If you're on top of your credit card debt, try saving a little extra.