Credit cards are very important within the financial world today. Some simple transactions are challenging and difficult without a credit card. For example, most hotels require a credit card to book travel. Car rental companies also need a credit card in order to allow a driver to rent a car. While most banks require proof of a stable income or employment before extending a credit card, a student without a job is still able to obtain a credit card. A student without a job simply needs to follow specific steps before applying for a credit card. Basically, he or she needs to follow steps that help establish a responsible credit record.

The following steps will help a student without a job obtain a credit card:

Secured Credit Card

First of all, you can establish credit by setting up and applying for a “secured credit card.” Creating a credit record using this card will help you avoid any disasters financially in the future and obtain a credit card even if you do not have a job. While it is called a credit card, it is a card that actually pulls from an account that the cardholder deposits money into. The cardholder then basically uses the card to withdraw money from their account. This financial tool helps build credit within the banking world. Secured credit cards typically have low limits around $250 to $500.

Apply as a Student

Take time to apply for a credit card as a student. Many credit card companies will offer students credit cards that allow students to apply will also allow a co-signer to be on the application like a parent or guardian who takes joint responsibility for the card. The acceptance process will take the co-signers credit history and income into account which greatly increase a student’s chance of getting a credit card. Additionally, some student credit cards give incentives. For example, if the entire balance is paid off or the balance remains below the limit, the interest rate may be reduced.

Other Sources of Income

A student without a job can use other sources of income on an application. These sources can include a spouse’s income, a trust fund, interest payments and more.

Research

Take the time to research online for credit cards for students without a job and limited credit history. There are many websites that have been set up to give details about specific needs applicants. This type of research will be very important for a student without a job looking for a credit card.

Additional information may be obtained by reviewing the 2009 credit card reform act.