| APR | Annual Fee | Balance Transfer Rate | Balance Transfer Fee | Credit Required | |||
|---|---|---|---|---|---|---|---|
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CIBC Classic Visa Card for Students Review Enjoy benefits usually found with premium cards. |
19.90% | $0 | 21.50% | 1% | Fair Credit | Apply |
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MBNA Studentawards MasterCard Review Earn 1 WorldPoint for every $2 in net retail purchases |
18.99% | $0 | 19.99% | 1% | Good Credit | Apply |
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RBC Visa Classic II Student Review Earn one RBC Rewards point for every dollar in purchases you make with your card |
19.50% | $15 | n/a | n/a | Fair Credit | Apply |
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RBC Visa Classic Student Review Helps university and college students build a credit history while enjoying the worldwide acceptance and convenience of an RBC Royal Bank Visa card |
19.50% | $0 | n/a | n/a | Fair Credit | Apply |
Learning how to manage a credit card is an important lesson in life, one that students need to learn early. The sooner you learn about credit cards and how to manage them effectively, the better off you will be in the long run. Getting over your head in credit card debt is a very difficult thing to overcome. Therefore, it's much easier to avoid it entirely if you can and start being responsible from the very beginning.
Only buy the item or service if you are able to repay the charge on the next statement. If you don't have the money to pay for it now or next month, no matter how badly you want to buy it, it's not in your budget. Period.
It's okay to use the card for emergencies, such as car repair or medical expense…but make sure it is truly an emergency and there are no other options. Late night beer run, unfortunately, probably doesn't fit into that category.
Make sure you pay on time AND pay off the balance each month! Missing a payment and carrying a balance from month to month will not only negatively affect your credit score, it will bury you in outstanding debt that is extremely difficult to pay off due to interest charges and late payments.
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