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Instant student credit card is the student version of no annual fee low interest credit card. The card operates under similar terms and is meant for students who are well off and have probably been given authority by their parents to apply for and manage their affairs with the credit card. Those in a position to meet the strict requirements of instant student credit card may find a very convenient way of helping students learn to assume more responsibility for credit card use. Students will finds its use convenient only as long as it is used to spend some allocated money which is used to replenish the instant student credit card account as required by the terms of issuer. It gives a student financial access to goods and services he or she may require that are better off being purchased using this type of credit card.

Instant student credit card gives a student an opportunity to start building good credit score which become useful later on life for long term credit requirements and for better terms standard credit cards. But it must be remembered that it also gives student an opportunity to mess themselves and their future up. Because this type of card offers a lot of incentives enabling a student to build credit score much faster, its misuse also reflects badly on the type of a person that student will be.

Some of the additional benefits coming instant student credit accounts include bonus points, and between 5 and 20 per cent cash rebate on purchases made on credit card and paid promptly. This means that proper usage of the instant student credit card may leave an individual with money to spend on other issue or retain to help service future payment obligations.

A facility like instant student credit card brings with it a false impression of being able to buy anything whenever one needs or being able spend on whatever one desires. Some students are able to exercise greater self control while others are not. This credit card should be largely reserved for necessary purchases or spending which the holder knows will cause him or her much stress to repay. Since the low interest offers are conditional, it is imperative that purchases are limited to amounts that cleared within the given no interest period if the credit is to remain cheap. After the low interest period expires interests often rise as much as 20 per cent which can overburden for a student and may cause him to compromise studies to work for credit card.