best interest rates on student cards

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
6 posts
kcee09
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best interest rates on student cards

Postby kcee09 » Fri Jul 18, 2008 10:43 pm

Rates for student credit cards? Are they always higher or are there any thaat are not. I don't plan on carrying a balance but that's just one of those things you never know when an emergency will come up where you need to and when it does I don't want my APR to be an arm and a left just because I'm a student. Not fair!


SusanP
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Postby SusanP » Mon Jul 21, 2008 11:36 pm

Hi kcee.

The lowest interest rate I have seen on a student CC is the Citi Platinum Select card. They're offering 0% for 6 months and I believe it's 12.99% after their promo period.

Good luck! :)

kcee09
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Postby kcee09 » Wed Jul 23, 2008 1:44 pm

Thanks Susan I will check this out.

It's like my parents have cards that only charge 5% to 9% interest and then because I'm a student I get socked with rates of 20%. :(

SusanP
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Postby SusanP » Wed Jul 23, 2008 4:12 pm

Well, maybe it's because your parents have a longer (and/or better) credit history than you do, rather than because you're a student. I have had a difficult time getting approved for some cards, and I always get higher interest rates, because I'm a stay-at-home mom and most everything is in my husband's name. I guess it just takes time to build a good "rep" with CC companies to get better rates and higher limits, be patient. ;)

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Jul 24, 2008 11:43 pm

Don't worry it usually doesn't take long to build average to above average credit so you can get more favorable terms. I know people that are 20 and 21 that have been using credit cards since they were 18 and now they have high credit limits and low interest rates on good cards. Keep at it and you will build up your credit fast and get the lower rates.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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alsteig
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Postby alsteig » Tue Jun 01, 2010 3:39 pm

Check out Wells Fargo Student Platinum 11.99%. Your parents are less risk than you, thats why they have a lower rate. 2 years you will have decent cred and get some good rates/limits.



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