Student Credit Card
A student credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to student users of the system. A student credit card is different from a debit card in that the student credit card issuer lends the consumer money rather than having the money removed from an account. A student credit card is also different from a charge card (though this name is often used to describe student credit cards by the public) in that charge cards do not extend the user credit -- the charges must be paid each month in full. In contrast, a student credit card allows the consumer to 'revolve' their balance, at the cost of having interest charged. Most student credit cards are the same shape and size, as specified by the ISO 7810 standard.
As well as convenient, accessible credit, the student credit cards offer consumers an easy way to track expenses, which is necessary both for monitoring personal expenditures and the tracking of work-related expenses for taxation and reimbursement purposes. Student credit cards have now spread worldwide, and are offered in a huge variety of permutations with differing credit limits, repayment arrangements (some student credit cards offer interest-free periods, while others do not but compensate with much lower interest rates), and other perks (such as rewards schemes in which points "earned" for purchasing goods with the student credit card can be reclaimed for further goods and services).
Some countries such as the United States limit the amount that a consumer can be held liable for due to fraudulent transactions as a result of a consumer's student credit card being lost or buy n.