College students under the age of 21 have found it increasingly difficult to get approved for student credit cards on their own. This is primarily due to new federal laws that require young adults under 21 to either have an adult co-signer or sufficient income to support their new credit limit.
While it's clear what an "adult co-signer" is, what exactly is "sufficient income" in this regard? Unfortunately, the law itself doesn't describe what a "sufficient income" is, so no one really knows for sure. This has led to many students receiving declinations from credit card issuers because their part-time jobs just aren't enough to qualify them on their own. Don't let this happen to you.
If you plan to apply for a student credit card, take the safest route and always apply with an adult co-signer. A responsible parent, sibling, or close friend will likely be your best option, and your chance of approval will increase dramatically.
