Credit cards for students: which cards are eligible and what to look for when choosing and using them

Whether on vacation, during a semester abroad, for online shopping or simply for cashless payments – credit cards are also an attractive means of payment for students. But which credit cards are suitable for students?? And what should they pay attention to when traveling and during a semester abroad? In this article we have compiled important information about credit cards for students.

Which credit cards are suitable for students?

For students without a steady income or assets, getting a credit card is a little more difficult. This is because banks usually decide whether to accept a potential customer's credit card application based on their creditworthiness. Whether the person is solvent and also creditworthy, is then often checked by means of proof of salary or schufa information. However, it is basically also possible for students to get a credit card. Some banks and savings banks even offer special rates for them. However, certain types of credit cards may be more suitable than others.

An important distinguishing feature of credit cards is the billing mode. So-called charge cards are widely used. With these "real" credit cards, the sales are collected and i. D. R. Debited once a month from the underlying current account. The holder of the credit card is therefore granted credit over this period of time. In contrast, so-called prepaid cards must be loaded with the desired amount beforehand. So it is actually not a "credit" card. Prepaid cards are therefore often available without schufa inquiry or proof of salary. In addition, they offer better cost control and there is no risk of getting into debt. The disadvantage: no deposit (also called pre-authorization) can be made with a prepaid card at rental car agencies or in hotels.

In addition to various credit cards of the charge card type, the sparkasse mainz also offers the mastercard basis, a card payment method that works according to the prepaid principle.

What students should look for when choosing a credit card?

In short, the costs and benefits should suit them. For this, students can ask themselves the following questions in particular:

  • How much is the basic fee? Many credit cards have an annual fee. A higher fee can be worthwhile if the required services are also included (e.G., the payment of a fee for a credit card). Travel insurance abroad).
  • What other costs may be incurred during use? When using a credit card, there may be additional costs that should be considered beforehand. This includes, for example, debit interest when using the overdraft facility. Costs may also be incurred for withdrawing money or using the card outside the euro zone. If you lose your card, you also usually have to pay something for the replacement card.
  • What additional benefits are included and do I need them? Many credit cards offer additional benefits. These include, for example, internet buyer protection, shopping benefits at partner stores or insurance benefits for abroad. It allows you to save money when shopping or traveling.

What students should consider when using a credit card while traveling abroad or during a semester abroad?

Especially when traveling abroad or during a semester abroad, students often do not want to do without a credit card, as they are accepted almost everywhere in the world. Withdrawing and paying with a credit card is often cheaper than with a sparkassencard. Especially for popular long-haul destinations outside europe, such as new zealand, canada or the U.S., it is essential to carry a credit card.

Students who want to use their credit card mainly abroad should pay attention to the following points when choosing and using it:

  • Is the credit card suitable for my purpose (e. B. Rent a car abroad) suitable?
  • Is an activation of my credit card for foreign countries required?
  • What are the costs for cash withdrawals and payments in foreign currencies and how can I save money??
  • Does my credit card include insurance such as travel cancellation insurance or international travel health insurance?? How long and for which countries do these policies apply?
  • What emergency services does my bank offer in the event of loss or theft of the credit card??

Conclusion on credit cards for students

Not all types of credit cards may be suitable for students. But this should not discourage them from applying for a card. Prepaid credit cards can be an alternative to charge cards, but do not offer a deposit option (bspw. With hotels or car rentals) students should carefully review credit card costs and benefits in any case – especially before using the card abroad. With the right credit card, there will be no unpleasant surprises on vacation or during a semester abroad.