Why Have a Student Credit Card?

It was with some trepidation, but also some relief, that I agreed that my daughter should apply for her own credit card! She had been travelling with her volleyball team, and had taken her credit card linked to my account, in case of emergencies. There were none, thank goodness, and she was very responsible and didn't go wild with her purchases, but would she with a credit card of her own?

So she researched into student credit cards, looking for one with no annual fee. She didn't expect to be carrying a balance, as she was working, so that part was easy, but even so there were a few choices available to her. Would her situation change, and would she have to carry a balance for a while?

It is a few years later now, and my daughter is still a student. Working to pay for school, and paying for school herself does take time, but she is progressing nicely. She has learnt the value of money somewhat, and has been handling her finances very well, thank goodness. The bank is being kind to her, as they realize she is still a student. She has learned to handle her income pretty well, and she knows that she needs to save some of it ready for those recurring tuition fees. But she also treats herself, and she deserves to. After all, it isn't easy juggling a job with school, and socialising!

Initially, she was given a low balance, and that was just fine with me! She handled that well, so that limit has now been raised, and that is fine too. She now finds that she needs that higher limit to help her juggle her school fees with when her salary is paid, and she is getting more responsible all the time, I hope!

Because of her credit card, she now has a credit history, and hopefully that will make life easier for her when she applies for a car loan, or needs to rent accommodation in the future. I can't see her owning her own place for many, many years! But I feel that she is on a good financial road right now, in part thanks to having a student credit card.