Most of Today’s Credit Cards Were Not Designed for Students
Look, let’s be real here: credit card companies aren’t thrilled about issuing credit cards to students. Banks assume students are risky credit owners and do not have a lot of spending power. That’s why most of today’s credit cards were not designed with first time cardholders like students in mind. And many students find themselves in a bind: they don’t qualify for credit, because they lack credit history; and they cannot build credit history, because they cannot get a credit card.
Without established credit and a high credit score, most students only qualify for “secured” credit cards. Don’t be fooled by the word secured. It means that you have to secure the card with a deposit. So, for example, if you want to have a $1,000 credit line, you first have to give the bank $1,000. And these cards rarely feature benefits like cash-back or low introductory interest rates.
You Have A Choice: SelfScore
At SelfScore, we are devoted to offering all students fair credit using new metrics, including your major, your financial resources, and other factors that show your potential for success. Here’s how we stack up. The key difference between SelfScore and other lenders is, as our CEO Kalpesh Kapadia explains: “We are measuring potential, not just risk.”
Apply Today: SelfScore’s Achieve Mastercard
The SelfScore Achieve Mastercard is great for students because it doesn’t require a security deposit, doesn’t have any annual fee or hidden fees, and it comes with the great features below.
- No prior credit history needed
- $0 Annual fee
- 1% cashabck on all purchases
- No fees on foreign transactions
- 0% APR for first 6 months (19.74%* variable APR thereafter)