Credit cards are a big step for college students. It is one of the most responsible things they can have when going to college. It is not just a card to buy whatever you like. Parents need to discuss with their children what a credit card is and how using it properly can affect their credit history. If they use it improperly, then there are consequences. It would not be a good idea to start their financial history with bad credit, and this is something they need to be aware of.

There are a few banks that offer credit cards just for Australian students. Commonwealth Bank has a student card with zero dollars annual fee as long as they are in college. Credit lines start at $400 and is made just for students. ANZ Access Advantage is an Australian and New Zealand card offered to students or international students studying in Australia. Student Edge Debit Card from BankWest is a good deal. This bank debit card allows for student to have easy access to their money. There are no monthly fees and no limit to how much you deposit. American Express has an AMSA Student Gold Credit Card that has no annual fee and a 55 day interest-free limit. American Express offers many incentives and membership points.

There are other banks who also offer student credit cards. It is important to review all of their fees and options. Read the fine print to make sure there are not any hidden fees. Most banks will approve students for these credit cards to get them started in building credit. If the student is responsible for paying the bill, they will understand what it means to have financial responsibility and can build good credit. If the parents are paying the bill, they need to have an open line of communication on what should and should not be bought with the credit card.

Student credit cards should be used for emergencies or for buying necessary materials for school. These cards have specific programs with great advantages. Parents and children should decide on the card that is right for them. Some cards allow for parents to be contacted when purchases are made. This is good, especially if they are paying the bill. While a student credit card may cause family tension, it should not. As long as there is communication, there should be no problems.