Kredittkort for Studenter – What to Know about Student Credit Cards


Most students have a unique financial situation. This is given how they spend a lot of their time in the classroom, studying, and have very little or no time to earn an income. This impacts their finances. As a result, they do not seem like the right candidate for credit card companies.

Furthermore, some students may not think it wise to apply and use one. For the record, some benefits come with students using this payment solution. This is provided they are used responsibly. One such benefit is building a credit score, which is mostly determined by how well people use credit facilities. You can read this article for more on the benefits.

And for the record, there are companies more than willing to offer credit cards to students. There is even a designated kind for students. More about what students need to know about this subject will be discussed here in this article. Make sure you keep reading to stay informed.

What Are Student Credit Cards Used for?

students talking on stairs

They are used to pay for the financial needs of students. These are financial needs ranging from academic-related to general lifestyle needs. By and large, some of the expenses they can be used to pay for include:

  • Books
  • Seminars, Conferences, and Symposiums
  • Tuition Fees
  • Accommodation
  • Entertainment

These are just a few of them as there are several other expenses that they can be used to pay for. As a result, the financial needs and situation of students should determine the types and features of credit cards that they opt for.

For example, one with foreign transaction fees does not seem like a great choice for cardholders who travel a lot. Those who do not travel quite often or at all may not find any problem with such.

There is a designated option for students as explained early on – student credit cards. However, those who are quite eligible may decide to opt for other options.

Such people have to consider the strengths and weaknesses of all the options available to them before making their choice. Depending on their eligibility, some of the options may include (but are not limited to) prepaid, reward, and standard cards.

How Easy Is It for Students to Get Credit Cards?

stuedent reading book

How easy or difficult it is for students to get them is dependent on several factors. These are mostly factors that determine how eligible they are. By and large, the factors that determine how easy, difficult, or even impossible it is include the following:


Some issuers do not fancy the idea of offering them to this kind of client. As a result, it is very hard or practically impossible to get it from such issuers. On the other hand, some options have absolutely no problem with it. This is provided their eligibility criteria are met.

Also worth noting is how some options are more lenient than others. For example, while some insist that the minimum age of applicants should be 21, some are very willing to go as low as 18.


Of course, this was passively discussed above. However, it is worth noting that there is a general minimum age requirement for applicants; which is set at 18 years. In other words, applicants younger than this minimum age will be declined.

This is quite ironic seeing how some students are below this age. It simply means that they would have to wait till they clock the minimum age limit, at least. By the way, some issuers have higher age requirements than the general minimum age requirement. As a result, it is possible for people who have turned 18 to still be turned down by certain issuers on grounds of their age.

However, there are proven ways to make up for the age trouble that some people may be experiencing. For example, there is the possibility of being an authorized user of another person’s credit card. More often than not, this is usually parents.

The advantage is that the card is seen as the student’s own to a large extent. This is to the point of building credit history with such.


This is where it often gets tricky for students applying for it. Normally, income status is a major requirement before applicants are granted credit cards.

For the most part, the income requirement is earning no less than 100,000 Norwegian Kroner annually. By the way, this is usually for small-scale credit lines as large-scale kinds will usually require more than this.

As mentioned early on, these kinds of applicants are unique in this regard. As a result, a lot of them do not earn even as much as 100,000 Norwegian Kroner.

Fortunately, some issuers are very lenient; making it possible for students to still get their credit cards. Some of these issuers would accept scholarships, grants, student loans, and even parental support.

Account Information

Those that will be granted must have basic account information to be considered. One such for Norwegians is personnummer, which is the personal identification number.

Residency Status

There are students in Norway who are not Norwegians by nationality. A common question is if they are entitled to have this payment solution. That depends on their residency status. The minimum requirement in this regard is to have lived in the country for one year.

Some issuers may expect such applicants to have lived in the country for much longer. The whole essence is to be certain about certain information. This includes information about the applicant’s address, financial situation over a prolonged period, and confirmed identity.

These residency requirements are part of the reasons some foreigners may not be eligible for it. So, they may have to wait longer to meet the eligibility criteria as it concerns residency.

Credit History

Credit cards are loans. They fall under the category of unsecured loans. This means that they are granted to the borrower simply based on the borrower’s creditworthiness. In other words, no form of collateral is offered to the lender.

This means that issuers take a significant risk in offering such to applicants. As a result, they have to ascertain that the applicant is worthy enough to be granted the card in the first place. This is why credit checks are run. The application of those who are not considered creditworthy enough will be declined as a result.

General Facts about Student Credit Cards

For the record, a lot of the facts discussed below also apply to other kinds of credit cards. So, it is not just with the student kind. Having made this clear, some of the things to know about it include the following:

Credit Limits

There is a maximum amount that can be borrowed using it. The fixed maximum amount is based on the agreement between the cardholder and the issuer (majorly the issuer).

But regardless of the set maximum amount, it is not a wise financial practice to spend anywhere close to the maximum amount. For one, doing so would hurt your score. Financial experts recommend not spending beyond 30 percent of the entire balance.

Payment Deadline

The amount borrowed using this payment solution has to be repaid to the issuer. There is usually a payment deadline and grace period. Failure to repay the borrowed amount before the due date is not good financial practice.

For starters, it significantly increases the cost of using this payment solution. This is given how late payment would trigger late repayment fees and incur interest rates, which may be massive. Secondly, it does not do your credit profile any good.

It suggests that you are not a creditworthy individual. So, you should do all in your capacity to repay the borrowed amount before the set deadline.

More often than not, there is a set minimum repayment amount. This means that the various penalties will not kick in if you pay the minimum amount rather than the full amount that you borrowed. However, it is a lot better to avoid the debt trap by paying all that you borrowed (if you can).

Cash Advances Are More Expenses

A cash advance is withdrawing cash with your credit card as you would with debit cards. It is not seen as a regular kind of transaction using credit cards. This is why it is more expensive to use credit cards for cash advances.

This is whether it is with an ATM, bank, or POS (point of sale) terminal. So, you should take this into serious consideration before deciding to use credit cards for this purpose.

Credit Card Mistakes that Students Should Avoid

These are not only mistakes made by students. However, they are very common among them. Some of the mistakes in question include the following:

Using Multiple Credit Cards

Using several options seems like a great deal given that it increases your credit lines. However, it can be a terrible idea as managing and servicing several credit lines can prove very difficult.

As a result, you should stick with one. It should be two at most and you must be well able to manage both of them.

Unbudgeted Spending

It takes a great deal of discipline to use this payment solution. This is given how they can tempt cardholders to spend more than they should ideally spend. So, make sure you spend according to your budget.

For one, this is to stay within the ideal limit of your balance. It is also to avoid difficulties in repaying what you borrowed.

Forgetting to Make Your Payment

Do not forget to make your monthly payment. This is to avoid the penalties that late payment triggers, as well s the bad look it has on your credit score.


There are credit cards that you can secure as a student. You should explore your options and choose the right one. Using student credit card comparison tools will also help. You can visit for more information about this.

Responsible use of this payment solution is essential. This is regardless of the kind that you secure. So, make sure you understand what it means to responsibly use them and act in that light.