The high interest rate is necessary for the credit card company to maintain business. As a person with no credit, a student is a high risk candidate. This means that they have no idea whether you will pay back your balance or not, since you have no credit history for them to use as reference. Therefore, giving you a student credit card, which is essentially offering you a loan that you pay back on a monthly basis, is risky for companies like MBNA. So when you look at the MBNA credit card offer, be sure to read the fine print so that you know what you are agreeing to before you get caught in a cycle of high payments and increasing interest. Features

There are some features of the no credit credit card offered to students by MBNA that appeal directly to students. The biggest draw is perhaps the opportunity to get a credit card that pictures the students university on the front of the card. This personalization is very attractive to students and a fun aspect of the credit card offer.

When you go online to the MBNA website at http://www.mbna.com, you will find a link to see credit card offers. You can follow the links to the student credit card page and the first thing you see is a long list of illustrated cards showing all the schools available to be features on your new card. The schools include the following institutions:

Arizona State University
Auburn University
Clemson University
Trustees of Dartmouth
Florida State University
Georgetown University
Indiana University
Iowa State University
Loyola College in Maryland
Michigan State Alumni Association
Ohio State Association
Penn State Alumni Association
Purdue University
St. Johns University
University of Texas A&M
University of Arizona
University of California at Los Angeles
University of Delaware
University of Georgia
University of Illinois
University of Miami
University of Michigan
University of Missouri
University of North Carolina at Chapel Hill
University of Pennsylvania
University of Pittsburg
University of Southern California
University of Texas
University of Utah
University of Wisconsin
Villanova University

But once you choose your school and begin to fill out the MBNA credit card application, you may notice that the terms of service, including interest rates, penalties, and fees do not appear on this page. In fact, if you do not click the small link at the bottom of the page for terms, you will not see these throughout the entire application process.