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By: Kim Soyung

If you or your child is now living the student life in college, you should definitely look into student credit cards.  This might be scary for parents, but applying for student credit cards is not necessarily a bad thing.  You will need to start building credit sooner or later, right?
There are hundreds of credit card lenders with student credit cards available.  Some may have a parent’s name on the card for monitoring purposes.  (This is good for the student because mom and dad will pay for the monthly statement, worse case scenario.  This is also good for the parent, because mom and dad can monitor their child’s spending habits and use it as a learning tool.)
Student life can be tough at times and money can be tight.  With a student credit card, students can learn the financial ropes of the real world.  They’ll sink or swim with their student credit cards-that’s for sure!
Depending on the parents, students can also use these student credit cards as their monthly “allowance” instead of sending a check in the mail or making weekly/monthly deposits.  It is up to the parents to decide the limit the student is allowed to spend, however.  If spending gets out of hand, the parents will take the hit instead of the student’s credit taking the low blow.
Student credit cards are also a way for parent’s to track the student, even though they are miles away.  Student credit cards are ultimately the starting point of building one’s credit and promoting healthy financial habits.