If you are a student, or the parent of a student then you may be thinking about credit cards for emergencies that come up during the school year. While this is a great idea for college students it can be hard to get someone with no credit history approved for a credit card. Instant approval student credit cards do not really exist, however there are many student friendly credit cards and these student credit cards are set up to cater to the average college student, helping them build their credit while allowing for mistakes.

If you have a good credit score and you are willing to co-sign for your child to get a credit card then student credit cards with instant approval is perfectly feasible. Of course, this means that you’ll have to pay the debt should your child misuse the credit card and end up not paying it. Co-signing is great if you have taught your child about financial matters and about credit and how easy it is to mess it up. However, if your child isn’t very responsible with money or paying bills then co-signing for the card yourself may not be the smartest option.

Most banks have a program that issues credit cards for students and your child may be able to apply and get one on their own merit at your bank. College student credit cards are generally more lenient than regular credit cards and will allow your child to make some common mistakes that first time credit card holders often make. They are intended as a stepping stone toward an actual credit card, but they still hold the same weight with the credit bureaus so be aware of that. If there are late or non payments then your child’s credit score may be affected just as badly as a regular credit card.

The student credit card is a great way to have some cash for emergencies and they usually have a lower limit such as $500 or $1000. Also, they may have extra features that are attractive to college students such as extended grace periods or cash rewards. They may also offer a program of forgiveness or lower interest rates with good grades. These are commonly referred to as good student credit cards and you can usually find them at your local bank or financial institution. If you don’t see a program like that there ask about it, and they will be able to point you in the right direction.