Credit card applications and what you need to know
If the APR (Annual Percentage Rate, meaning the standard interest rate) is at or within a couple of points of the APR of a regular credit card, the offer is good. Don't bother applying for student credit cards with higher rates. Also stay away from credit cards with a default rate that is noticeably higher than a regular credit card's default rate. This is the rate you'll pay if you make a mistake in paying your bill, and it can be entirely too easy to make such mistakes, so get a default rate that's as low as possible. * Does the card charge a yearly fee? It shouldn't.