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Student Credit Card After Graduation/What Happens?

What happens to my Student Credit Card After Graduation? Life after graduation from college can be very challenging especially when it has to do with money and credit. Students loans come with clear instructions on what to do as soon as you graduate from college. But, that’s not the same with a credit card. You may be thinking, now that you are done with graduation, what happens with using your student credit card or do have to replace it with a Normal credit card.

Student credit card after Graduation

What Happens To My Student Credit Card After Graduation: Still keeping it Depends.

Keeping your credit card after graduation depends on your credit card issuer. Many lenders allow graduates to keep the same cards they had while in college. With complete perks, including benefits and rewards. However, you should find out from your credit card issuer. Some card issuers like Discover will allow you to continue with the student card after graduation. The only changes after notifying them will be that Discover’s System will classify your account – the “Student “.

Do Not Cancel Your Student Card After Graduation

It is advisable not to cancel your credit card, after graduation without exploring your options first. If your student card is the oldest card that you have, cancelling it could reduce the length of your credit history, which is a factor in your total credit score.

What Happens To My Student Credit Card After Graduation? Increase in credit limit.

As a graduate, do I qualify for a higher credit limit? Receiving an increase in your credit limits will largely depend on your income. Students credit card are usually issued with a lower credit limit that reflects the high-risk students with no income or low income can bring to credit card issuers.

After graduation it is a good period to increase your credit limit  Your credit card will be updated, adding additional information from you such as your new income, and expenses, date of graduation, contact information, housing information (such as mortgage payments or rent, income, etc. Updating your information enables your card issuers to consider you for an increase since your ability to pay has increased with a higher income. This can be done online or on your smartphone.

What Happens to Perks already earned

If as a student you have not redeemed your perks earned, some credit card companies allow you to transfer them to other cards. Contact your issuer for enquiry on this.

But with some credit card like Discover it®, Chrome for students card, Cashback bonus you earn never expires, and you can redeem them in various ways. And if you don’t use the card for 18 months, or if it’s closed, your account will simply be credited with your Cashback bonus balance.

Other Credit Card options

There’s bound to be a change after graduation. There are lots of other credit cards after graduation that you can explore. There might be another card to suit your post-graduate lifestyle and needs. Contact your credit card issuer to assist you in getting a good option for you. Thus could mean converting your student card or getting a similar or totally different card.

Finally, using a credit card as a student responsibly should be a habit to carry on into your new life of post-graduate. This will help build your credit. Continue to make payments in full and on time, such as payment when due.

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