It is not easy to apply a credit card for college students
By kingparker
@kingparker (9673)
United States
June 28, 2011 4:10pm CST
When I was in college, I could apply any credit card I want to, and the limitation was loosen, and my minimum credit can go up to $2000 to $5000 per card. I did have 3 cards before. Ever since the economy collapse a couple of years ago, the application criteria is more strict, and it won't be that easy for college students to apply a card right now. There is many consideration for those financial institution to consider, and risk - free is their priority now. Unless you have a parent co - sign your application.
Before, a college student can have 10 - 20 credit cards, who care! what if he/she have all the bills piled up, and he/she wasn't unable to pay them off. The last resort they will go to is their parents. They would sobbing help from their parents and telling the harassment from those collection agencies. Their parents would more likely to help them out from it. So, a parent co - sign will be easier for them to get approved. But for parents, think twice before you let your kids apply a card. The interest rate can be monstrous.
4 responses
@asliah (11137)
• Philippines
31 Aug 11
hi,
yes, you are right that its really hard to apply a credit card when you are a college student only,because the number one requirement of it is the pay slip or the income,even me i never dreamed to have it during my college time because i know that its hard to have it.
@jeanneyvonne (5500)
• Philippines
4 Jul 11
I guess in your days some credit card companies tried to tap the college student market in order to have another demographic in their sales. But the thing they overlook is that some college students (like some adults) tend to abuse the credit card in purchasing things that are not really important. And since some college students cannot pay up when they maxed out they cards (becuase most of them are not working), they (as you said) go to their parents and some parents won't help their children in these bills.
I have never had a credited card and perhaps I won't apply for one in the future becuase I don't think I have the temperament to hold one. I think the only thing that came out of this situation is that some people grew up and realize their responsibilities and obligations regarding money and credit. I just hope will also learn this lesson.
@randylovesdar (4932)
• United States
28 Jun 11
I remember that it was easier before to get a credit card. When I was 19 I had two credit cards and I remember maxing them out. My amounts on there were 600.00 on each one. I remember telling my parents that I was in debt and my parents would not help me out. My parents thought that if I maxed out my credit card then it was up to me to pay them off by getting a job. I told them that one of the amounts on my credit card was for my textbooks and that amount was 250.00. My parents paid for the books because that was a college expense.
@wow2dong2 (204)
• Malaysia
29 Jun 11
Before this, you no need a job or parent co- sign to apply for the credit card? To show them that you have ability to pay back before you apply the credit card?
