Student Credit Card Alternatives – Better than Credit Card

Is there any alternative to credit cards ? Oh you are wondering then take a took here is the Best Student Credit Card Alternatives that are Better than Credit Card .

Credit cards are not just meant for working people, businessmen or parents only even students can apply for credit card. Even if you are below 21 and unemployed and get no full time income, you can register yourself and apply for credit card under certain rules and regulations and policy. Even the students have their own expenses that they have to pay in their everyday life to fulfill their needs and requirements.

Student Credit Card Alternatives – Better than Credit Card

We have listed down few best credit card alternatives for college students which are as follows:

Secured Credit Cards
Student Charge Cards
Checking Account
Gift Cards
Checking Account Alternative Cards
Prepaid cards
Cash
PayPal debit card

So now let’s take a deep look on each of the Student Credit Card Alternatives .

Secured Credit Cards

When you open account you make it with a cash deposit that backs the secured credit card. It mainly reduces your credit risk thus helps to maintain good credit score . Because you can spend only within your credit limit that equals to your deposit amount.

It is important to spend within the credit line so as to bear from risks like debt or interest charges. You have to deposit money in advance every month timely or you will have to pay interest charges. The great thing is that the money you deposit can be refunded. So the credit limit for secured credit cards is limited to the amount that the cardholders have deposited so as to minimize the chances to pay interest charge.

Secured credit cards is not just a Student Credit Card Alternatives but also a smart way to stay out of debt .

Student Charge Cards

Student charge card is also one among the best alternative credit card for the college students . This card helps the students to earn rewards as well enjoy it on short term basis , interest free money . You know how significant it is to maintain a good credit history . So if you are worried about credit history then opt for student charge cards , this helps to make a good credit history and thus gives excellent credit score .However, charge cards are not at all the viable option to rely upon if your credit history is not good.

Checking account

There are various banks either traditional bank or online bank which offers less or no fee student checking account. Checking accounts usually come with standard debit card as well as ATM access. The best thing is that with such accounts there are no or less chances for students to incur debt. Either parents can deposit in money or even set up a joint checking account that lets them keep track on how much their child spends.

Gift Cards

Though Gift cards aren’t best for spending on daily basis But, gift cards can be helpful for students to make decent emergency fund. For example, the student could buy a $200 gift card in case he/she needs to make an urgent situation trip home or anywhere or a $500 gift card for other types of emergencies that require more money.

All you have to take care is to know that the gift card doesn’t charge any fees for the money left or not used after a certain period of time.

Checking Account Alternative Cards

Checking account alternative card is one of the best Student Credit Card Alternatives. It can take a track on your spending as well as on your savings , Even parents can access the account of their ward .If you opt for the American express and Walmart provided Bluebird , then that serves much better . On this parents can drop money to the account whenever in need . They can keep an account separately for students and set limit on your daily spending .

Prepaid cards

Prepaid cards are the best alternative credit card for college student as they are specially created for them. Prepaid card allows parents to have control over student spending and also for them to deposit more money onto the card for their children to spend.

PayPal debit card

PayPal debit card provides notifications to parents about the transaction and allows accessing the account as well as tells the spending limit. It also has a feature that allows parents to transfer money in the account quickly in an emergency.

Cash

Yes of course, carrying cash along with us all the time that too heavy money is risky that is why our parents suggest to use debit or credit cards along with us while going for shopping or any other kind of payment or transaction. But the students can carry cash along with them as they would not need much cash to spend. They have less expense so they can carry cash with them.

So these are the some of the widely used Student Credit Card Alternatives that serves better than credit card for students in their life . Handling finance at college age is not an easy task , the more wise you begin the more bright money management capacity you get.

← Previous Story Enable or Disable Superfetch for Windows

Next Story → Java Tutorial – Introduction to Java Programming Beginner’s Guide

Student Credit Card Alternatives – Better than Credit Card