Secured credit cards What the media say
The first tip is to ignore the huge, sparkly "0 percent interest" printed in bright red and gold letters on the front of the brochure. That is the introductory rate. After a set period, probably six months, it vanishes, and suddenly you owe the real interest rate. The interest rate on a student credit card is typically a little higher than the rate for an older person's credit card, and is currently around 13 to 20 percent. Student default rates zoom up to 25 to 31 percent if your payment is even a day overdue.