The Steps to Obtaining a Student Credit Card
To qualify for a student credit card, you typically need to be a full-time student at an accredited two- or four-year institution; however, some card companies also extend their applications to students in vocational programs. You need to be at least 18 years old, and those under the age of 21 need to provide proof of sufficient income. You don't necessarily need to be a U.S. citizen to apply for a credit card; in fact, several issuers even extend cards to overseas students.Application for a Student Credit Card: How to Complete the Income Section
A proof of sufficient income to cover monthly payments is usually required when applying for a credit card. Those under the age of 21 applying on their own behalf for a student card should be aware of this in particular.
Always give full and correct information when applying for a credit card or other type of bank account. It is a federal offense to provide false information on a credit card application, as this constitutes fraud. Be honest, but you should know that there is a lot of money you can lawfully claim as income that you might not have thought of.
Compile all earnings from all part-time jobs, including bonuses and tips. You are free to list any legitimate side gigs or revenue streams that you can prove. You can also claim your parents' regular, monthly allowance as income if they put it into your bank account. While federal student loans cannot be claimed as income, most grants and scholarships can. Even if you live with a domestic partner, you must record your income as an individual if you are under the age of 21.
The Steps to Obtaining a Student Credit Card
Most student credit card applications just require you to provide your basic information (name, address, phone number, email, etc.) and hit the "submit" button. Applying in person at a local branch or over the phone with your chosen issuer is another possibility. A preapproval option may be available directly on the website of certain issuers. Before even obtaining your credit score, the issuer can give you a decent sense of your approval chances by answering a few basic questions. Keep in mind that getting pre-qualified or pre-approved does not mean you'll actually get approved. While running the whole application, new information may become available that modifies the outcomes.
Although there is no surefire way to get a credit card, there are a number of things you can do to increase your chances, one of which is to be as exact and thorough as possible when applying. The following pieces of basic financial and personal information are usually requested when applying for a credit card:
Complete identity
First name, last name, date of birth, and social security number
Income
Standard living costs (usually rent)
Student credit cards are designed with students' lack of or very little credit history in mind, so it's important that you check your credit report for any mistakes that could lower your score. A student card application might still be approved despite a lack of credit. Before applying for a credit card, it's a good idea to check your credit report for any bad effects of fraud.
Student Credit Card Application Process
Applying for a student credit card is typically as easy as visiting any branch of your preferred bank or applying online. Verify your identity, enrollment status, income, and credit history (if applicable) with the appropriate documentation. Some examples are:
A person's Social Security number
Please provide your contact details, including your permanent address.
Data on yearly earnings
Details on housing payments
Your application could be granted instantly and your physical card mailed to you in the mail once you submit it, or it could take up to a month. It typically takes seven to ten business days after approval for you to receive your card in the mail.