Owning your first credit card is a big responsibility. You have access to money that you may not have earned yet, and the temptation of spending outside your budget can be hard to suppress. For this reason, it can be an intelligent decision to choose a lower limit for a student credit card. Having a credit limit of $300 to $500 allows for less debt accumulation, as well as giving you experience in financial planning. Due to the lower limit you may need to make decisions on what the most important purchases are, giving you a valuable lesson in handling money.
Your first credit card is a great way of building a foundation for future credit applications, and improving your credit rating. Make sure before applying that you will be able to make on time payments, and try to keep within your monthly limit, keeping the balance as low as possible.
A valuable way of tracking your account transactions is online. When looking for a student credit card, keep this in mind, preferably opting for a card with online banking so that you can have ease of access to your balance and spending, and use the available rewards more often.
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