Credit cards for students can provide need access to cash for emergencies or as a way for parents to supplement their cash needs. A student can also begin to establish good credit. Good credit will serve you well throughout adult life. There are a few specific things that you should look at when determining which card will be the best choice.

First thing to look at is the interest rate on purchases on the credit card. Almost all of the the cards offer a 0% introductory rate for the first 6 to 9 months. Read the terms carefully to see what the rate will be after the introductory rate expire. Rates can typically vary between 11% and 21% on most student credit cards.

Reward points for purchases with the card is pretty common with most of the companies. Points can be redeemed for things like cash, concert tickets, airline tickets, gift cards and many other things. The airline rewards points are pretty popular especially for those students who go to school far from home.

A credit limit can range from $200 up to $5,000. Starting with a low limit at first will reduce the chance of the student going wild and spending money for items they really don’t need.

Some card companies require proof of income. If a student can’t provide income proof then a card company may require a cosigner in order to get approved for the card. Some cards don’t require proof of income or a cosigner. It all really depends on the specific credit card companies guidelines.

Cash back or rewards earnings are other feature of some student credit cards. Cash back varies from 1% to 5% usually based on the specific types of purchases. For example tuition or book purchases may receive a higher percentage cash back then grocery purchases.

Other incentives offered by student credit card companies are things like cash advances, balance transfers, rental car insurance, online statements, online bill pay and travel accident insurance.

As you can see there are quite a few things to look for when trying to choose the right student credit card. Make sure to read the contract terms thoroughly so that you don’t get a nasty surprise down the road.