Student Credit Card

By Author: Brenda Williams
Total Articles: 32
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Have you decided tuition loans are not the way to go, when you have heard about student credit cards? You have several options regarding financial aid for college and some offers are going to be better than others. Companies have been offering 0% APR or a lower APR for these special advances to get you to change from tuition advances.

When you consider forgoing tuition advances you need to consider repayment options. You will have to pay a minimum balance to the credit card company every month, where as with tuition advances you will not have to pay anything until graduation. You will also loose the ability to defer the amount. This type of advance is not going to allow you a deferment during hard times. So now that you have understood this, let's look at ways of finding student credit cards to compare them against tuition advances.

Citi Dividend Platinum Student Credit Card offers 0% APR for the first six months regarding any purchases. After that you will have a regular APR of 15.24%. You will be able to earn 5% cash back for supermarket purchases, gas, and other expenses for six months. After six ...
... months it is only 2%. You will be able to build your credit history. Discover is offering a similar program with a higher APR after six months.

The point with these forms of advance is that there are student credit cards offering great start up options as well as the ability to build your credit history for the time when you are out of college and looking for a home or car advance with a great interest rate. These forms of advancement should not be a substitute for your tuition advances. After six months the great rates disappear and you are back to having regular rates. This can make paying for school more costly than the tuition advances.