What Instant Approval Student Credit Cards are All About

Have you heard or read anything about instant approval student credit cards? If you haven’t, then allow us to tackle some of the basic features and characteristics of these card programs. Also we have provided below a brief discussion regarding the usual requirements imposed on the credit card accounts offered to students.

What is an Instant Approval Credit Card for Students?

An instant approval student credit card is a card program usually offered to college students. Through this card account, young people can have access to lines of credit which they can use in financing their daily needs as they strive to earn their college degrees and diplomas.

It is also worth mentioning that instant approval student credit cards enable young people to establish their personal credit profiles. This is important since credit history is a vital requirement in applying for any credit account, most especially for unsecured or no-collateral credit programs.

Generally speaking, card programs offered to students have credit limits that range from $500 to $1000 and interest rates that range from 10% to 19.8%. After all, lenders and card issuers these days wish to reduce the risk involved in allowing young people assume credit card accounts.

Still, it is possible to find credit cards for students which possess excellent features. As long as you display a great deal of diligence and patience in searching for good credit deals, you can eventually find instant approval credit cards for students which carry flexible payment terms, 0% introductory APR, no annual fees, and 0% liability in case of card loss or card theft.

Requirements for Instant Approval Student Card Programs

Before an applicant can be granted the instant approval student credit card he or she needs, the prospective cardholder has to prove to his/her chosen lender that:

  • s/he is at least 18 years old,
  • s/he has a legitimate social security number and
  • s/he is a college or graduate student.

After this initial verification phase, the prospective cardholder will be asked to fill out an application form, in which he or she will be asked to furnish the following information:

  • Full name, date of birth, citizenship and permanent residence;
  • Contact details such as home and office address, phone numbers and email address;
  • School information, such as name of school, its address and the enrollment details of the applicant; and lastly
  • Information about his or her savings or checking account.
About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit card articles that would help build student credit.
Copyright 2010

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