Basics

• Many creditors issue credit cards designed for college students. These cards typically come with easier approval qualifications. The cards often have the same interest rates offered on other prime rate credit cards. Since these cards were meant to help students build credit, they often come with low available credit limits. However, many student cards offer rewards. Students can earn points they can redeem for merchandise and gift cards. The student can also earn cash back on certain types of purchases.
  
  

Laws and Qualifications

• Students under the age of 21 will have trouble qualifying for a credit card. Bankrate.com reports that as of 2010, anyone under the age of 21 cannot get a credit card without proof of income or a co-signer. This law comes from the Credit CARD act of 2009. A parent, legal guardian or spouse can co-sign for the credit card. However, the co-signer must meet the credit and income qualifications for the card. The student will also need to meet the credit qualifications. Most credit cards require that a student have good credit. However, a few cards approve students with no credit.
  
  

Secured Credit Cards

• Secured credit cards work like traditional credit cards except the student will need to put down a deposit before opening the account. Typically, the amount of available credit will equal the deposit. All secured credit cards have a minimum opening deposit requirement, but students can increase their available credit line by paying a higher deposit. The Credit CARD act of 2009 applies for secured cards as well and the student will need proof of income or a co-signer. However, secured credit cards typically approve people with limited or poor credit history.
  
  

Other Options

• A parent, spouse or legal guardian can add a student as an authorized user on their existing credit card. Being an authorized user will allow the student to use the credit card and build a credit history. However, the main account holder remains responsible for paying the monthly payment, including any charges the student makes. If the main account holder misses a payment or defaults on the credit card, the student's credit rating will go down.