Student Credit Cards S tudent C redit C ards. cc : The S tudent Credit Cards Website Compare Competing Student Credit Card Offers! - Click Here for The Best Student Credit Card Offers from CITIBANK (CITI) - - Click Here for The Best Student Credit Card Offers from CHASE - - Click Here for The Best Student Credit Card Offers from DISCOVER CARD - Credit less than perfect Let Orchard Bank MasterCard help Teaching a child the importance of being smart with money is one of the most important life-lessons that parents can pass on to their children. Understanding credit and debt is essential for individuals from all walks of life; anyone from the future Fortune 500 CEO to the aspiring Grade School Teacher will need to understand credit and debt in order to function properly and successfully in today's society. Mastering credit early in life can lead to a lifetime of financial success. Conversely, a bad start in the world of debt and credit can lead to many years of struggle and financial hard times. A person's credit history will affect his or her ability to get a good job, rent an apartment, buy a car, buy a home or get any other type of loan. A great way for a youngster heading to college to get a start in the world of credit is by getting a student credit card: Student Credit Cards: What's The Difference What is the difference between a student credit card and a standard credit card Not much! In fact, the only real difference between a student credit card and a regular credit card is that student credit cards have higher interest rates (i.e. the annual percentage rate or "APR") associated with them. This is to be expected since issuing a credit card to a young person with little or no credit history translates to increased risk for the credit card company. Also, with student credit cards, you may be required to provide the name of your college or university on the credit card application form. Student Credit Cards: The Advantages Emergencies : In a college atmosphere, an emergency can happen when you least expect it. Having a student credit card handy can really be a real life saver for emergencies like disabled vehicles or needing some cash for that taxi ride home from a party. Learn About Credit : A crucial life lesson which can have a huge impact on a person's overall quality of life. A student credit card is a big responsibility, and if a student can learn to handle one responsibly, it can give parents great comfort in the knowledge that their child is ready for the real world of money and finance. Track Spending : Students can effectively track their spending by reviewing and storing the monthly credit card statements that will be sent by the credit card company. This will help students understand the importance of budgeting and record keeping. Reduce Cash Worries : A source of a little extra peace of mind: carrying around a student credit card means that you don't have to carry too much cash in your wallet or purse. Student Credit Cards: The Drawbacks High Interest Charges : The interest charges on outstanding balances are invariably higher with student credit cards due to the increased risk for the credit card company. And the interest rate on a student credit card can soar to over twenty-five percent (25%) is you miss a payment.