A credit card is one of the products offered by banks. Thanks to it, we can get access to the money we need, reducing the formalities necessary to apply for a loan.
However, do young people have a chance to consider the application positively? What conditions should be met and which banks have a student credit card offer? Let’s see!
Credit card for student 2019
The credit card belongs to the group of payment instruments offered by banks. However, it is very different from the standard ones with which we can withdraw money or pay in a store. It combines these features and loan-specific features. If our credit card application is approved, we will receive a credit limit.
This means that, in accordance with the provisions of the contract, the bank grants us a specific amount that we can spend for any purpose. We don’t have to do it all at once, and just gradually deplete your account. However, it should be remembered that in each settlement period there is a moment when funds should be returned.
Therefore, be careful how much money and when we will download from the available limit. You can read more about how to pay back student credit cards later in the article.
How do I apply for student credit cards?
At the beginning it is worth noting that not every bank offers credit cards for students or young people. Therefore, at the beginning you should make sure that you have chosen the institution whose services you want to use. Then two solutions appear.
The first of these concerns people who have a bank account at a given institution. In this case, it happens that the institution itself will offer us a credit limit based on the information available on the account. This means that we will not need to submit any additional certification to prove our earnings. If we decide to take advantage of the offer, simply accept the terms and sign the contract.
However, when you apply for a credit card yourself in a bank other than your account, you will be required to submit the appropriate application and documents. The lender may require from us a certificate from the workplace, bank statements, a PIT declaration for the last year and confirmation of other sources of income, such as, for example, a scholarship. If we are employed under a civil law contract, it may be difficult to get the limit. In this situation, the bank may require us to confirm seniority, which in many cases is half a year or a year.
How to pay back credit cards?
Before proceeding to specific offers, it is worth paying attention to how to pay off a student’s credit card and more. It is obvious that when we borrow money, sooner or later we are obliged to give it back. In the case of credit cards, this occurs during the billing period. This concept covers the time we receive to pay back the debt.
More and more institutions allow us to choose the day when we should finally fulfill our obligations. Every month, at that time, the bank will generate a credit card statement for us, i.e. information about the amount we must pay back.