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Understanding the Catch-22 of a Student Credit Card
By Admin | August 26, 2009
There is no denying the fact that if you have a bad credit it will worsen your search for a new credit card account approval for the simple reason that you are seen as a higher credit risk. For a college student who is in search of a credit card, “catch 22” is that since they don’t have any credit that has been established so there is no prove of their credit history or credit score to charge them by.
Since they do not have credit history means that they cannot get credit and there will be no credit history since they cannot get any credit card. In case you are starting and want to build credit history there is a way forward. The only thing is that most credit card companies do not give you credit card without credit history but a few does.
Topics: Credit Cards, Personal Finance, Student loans | No Comments »