{"id":1621,"date":"2020-12-06T21:55:59","date_gmt":"2020-12-06T17:55:59","guid":{"rendered":"https:\/\/moneymall.ae\/credit-blog\/?p=1621"},"modified":"2020-12-06T21:56:05","modified_gmt":"2020-12-06T17:56:05","slug":"student-credit-card","status":"publish","type":"post","link":"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/","title":{"rendered":"What is a Student Credit Card? What are its benefits?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">If used correctly, a student credit card can prove to be quite a useful tool if you are pursuing further education. It can help you cover emergency expenses and pay for your online purchases. In this article, we take a look at how student credit cards work as well as their benefits. Continue reading to decide whether <\/span><\/p>\n<h1><span class=\"ez-toc-section\" id=\"a_student_credit_card_is_right_for_you%E2%80%A6\"><\/span><span style=\"font-weight: 400;\">a student credit card is right for you\u2026<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<figure id=\"attachment_1622\" aria-describedby=\"caption-attachment-1622\" style=\"width: 706px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1622\" src=\"https:\/\/moneymall.ae\/credit-blog\/wp-content\/uploads\/2020\/10\/student-credit-card.jpg\" alt=\"student credit card\" width=\"706\" height=\"453\" \/><figcaption id=\"caption-attachment-1622\" class=\"wp-caption-text\">student credit card<\/figcaption><\/figure>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23350953664\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23350953664\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#a_student_credit_card_is_right_for_you%E2%80%A6\" >a student credit card is right for you\u2026<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#What_are_student_credit_cards\" >What are student credit cards?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#How_do_student_credit_cards_work\" >How do student credit cards work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#What_are_the_pros_of_getting_a_student_credit_card\" >What are the pros of getting a student credit card?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#Earn_Rewards\" >Earn Rewards<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#Build_Credit\" >Build Credit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#Get_More_Consumer_Protections\" >Get More Consumer Protections<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#Tips_to_help_you_manage_your_student_credit_card\" >Tips to help you manage your student credit card<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/moneymall.ae\/credit-blog\/student-credit-card\/#What_happens_to_your_student_credit_card_once_you_graduate\" >What happens to your student credit card once you graduate?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"What_are_student_credit_cards\"><\/span><b>What are student credit cards?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Student credit cards are designed for college and university students who have not yet built up a sizeable credit history and who therefore won\u2019t qualify for standard credit cards.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_do_student_credit_cards_work\"><\/span><b>How do student credit cards work?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Credit cards designed for students work in much the same way as standard credit cards, but credit limits are typically lower and interest rates are generally higher. This reflects the greater risk of non-payment, as perceived by the card providers. To qualify for a student credit card, you\u2019ll need to be aged 18 or over, a UAE resident, have a student bank account with your chosen credit card provider and be registered on a course lasting for at least two years. Your student loan and any other income may also be taken into consideration.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_are_the_pros_of_getting_a_student_credit_card\"><\/span><b>What are the pros of getting a student credit card?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are numerous reasons why student credit cards are so popular. Below are some of the major advantages:<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Earn_Rewards\"><\/span><b>Earn Rewards<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It&#8217;s true that many student credit cards offer you big rewards in the form of cashback from your purchases or free travel rewards. These things can help you to take trips and buy things you might not otherwise be able to afford.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, a credit card that offers 2% cashback essentially gives you a 2% coupon on everything you buy.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Build_Credit\"><\/span><b>Build Credit<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Having a good credit score is important if you ever want to rent an apartment, open a utility account, take out a loan for a house or a car, or get a cell phone plan. It can affect whether you&#8217;re approved for a loan and how much interest you&#8217;ll pay.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An excellent credit score can save you thousands of dollars in interest payments in numerous situations such as over the course of a 30-year mortgage if you get a better interest rate because of your good score. Potential employers may also check your credit. In some cases, you might even be denied a job if your credit score is not high enough. Getting a student credit card and using it wisely can help you build your credit score so that it is in good shape by the time you graduate. That is because you will be adding positive information, such as on-time payments, onto your credit report, which can increase your credit score. In addition to that, the longer you have an open credit card on your account, the more your credit score can rise. The length of credit history variable is one of the hardest credit factors to manipulate.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Get_More_Consumer_Protections\"><\/span><b>Get More Consumer Protections<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">One of the things people do not realize about credit cards is that they can actually protect you in many ways that debit cards, checkbooks, and cash cannot.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If someone steals your debit card info, they can drain your bank account in a heartbeat and there&#8217;s nothing you can do about it. In contrast, if someone steals your credit card info and uses it, you can have the charges removed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, it is easier to get your money back if you buy something but the merchant charges you the wrong amount. You can call your credit card company and they will fix it. With a debit card, once it&#8217;s gone, it&#8217;s gone.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tips_to_help_you_manage_your_student_credit_card\"><\/span><b>Tips to help you manage your student credit card<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here are a few tips and tricks that will help you manage your student credit card:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If you plan to use a student credit card when you\u2019re at university or college, it\u2019s important to manage it sensibly. This means you should only ever spend what you can afford to pay back and only use your card for essential purchases.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It\u2019s also important to pay on time each month \u2013 doing so will help to improve your credit score and show lenders you are a responsible borrower. To help you remember to pay on time, you can set up a monthly direct debit.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Try to pay off the balance in full each month as you\u2019ll clear your debt faster and pay less interest. If you can\u2019t afford to, be sure to make at least the minimum monthly payment so that you avoid penalty fees and damaging your credit score.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Finally, if you use your card responsibly, you may find you are offered a higher credit limit after several months. Don\u2019t feel pressured to accept this if you think you\u2019ll be encouraged to spend more than you can afford to pay back.<\/span><\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"What_happens_to_your_student_credit_card_once_you_graduate\"><\/span><b>What happens to your student credit card once you graduate?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">After you graduate, you will still be able to use your student credit card. However, if you have used your card carefully, it\u2019s likely you will qualify for more competitive credit cards that offer benefits such as interest-free purchases, cashback, or other rewards. Of course, it has its own disadvantages as well. So, if you\u2019re not sure whether a student credit card is right for you, you could consider an interest-free overdraft instead.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If used correctly, a student credit card can prove to be quite a useful tool if you are pursuing further [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[486,485,351],"class_list":["post-1621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-cards","tag-student-credit","tag-student-credit-card","tag-student-loan"],"_links":{"self":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/comments?post=1621"}],"version-history":[{"count":3,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1621\/revisions"}],"predecessor-version":[{"id":1950,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1621\/revisions\/1950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media\/1949"}],"wp:attachment":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media?parent=1621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/categories?post=1621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/tags?post=1621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}