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Hey guys welcome to the credit report show today we are going to be looking at student credit cards it is a hotly requested topic I know many of our audience are in college they're trying to work out how to get a good credit score by the time they graduate so let's look at student credit cards first of all what are they well if you're under 18 in the US you can't have a credit card of your own you can only be an authorized user on your parent's credit card that's a good start it can help you build up your credit score because their credit shows up on your credit report so that benefits you once you get to over 18 you can finally have a credit card of your own for most people this will be either a secured credit card or a student credit card secured credit card is a type of credit card where you pay a deposit, and then they issue your card and with a student credit card you will often need a cosigner especially if you don't really have a significant income and especially if you're under 21 once you're over 21 the requirements start to get a little more relaxed in terms of income but for under 21 you definitely need to show a reasonable kind of income not big bucks, but you only need to show something, and it's hard for a student obviously to hold down a job with a lot of hours whilst your students, so you are most probably for quite a lot of these cards going to need a parent or guardian to co-sign the card for you how is a cosigner different to you being an authorized user' on someone else's account when you're an authorized user your parents get you a card on their account, but they don't actually have to give you that cut, or they could give it to you once a month you buy like one thing and then give it back to them and your credit score will still improve as a result of you being an authorized user on that account but when someone cosines a card for you that is actually your card it'll be shipped to your address not your parents and so you know you're going to have going to be able to use that card, and they just have to trust you that you're not going to go into debt on it because ultimately they're co-signing it, so they're actually ultimately responsible if you don't pay off your debt, and it goes to collection that will go back to them, and it'll hit their credit score, and you know mess them up, so you have to be from a family that trusts you I think my dad probably wouldn't have coached for a credit card when I was a student anyway so let's take a look at some student credit cards out there now these cards in general look you have to prove that you're a student there's normally on the application there's a little box where you have to write in the name of your school you may actually have to also use a school email to verify that you're actually a student in order to get it, so I wouldn't try applying if you're not a student because you may get denied and then that would waste a hard pull on your credit report if you want a basic car...
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