Student credit card. Student credit cards are useful for purchases of books, computers, food and other necessities. Some of these cards pay rewards for their use, but the best way to get student credit is to start making an early credit history. With good entries in your history, you will enjoy good credit after college. This will help you get a mortgage or a car loan in the future.
The best credit cards for students
Following are the 2 (two) best student credit cards that are most recommended for students. We also present tips for choosing credit cards for university students in their shopping activities for their educational needs.
Discover It for Students
The Discover card is accepted in many commercial establishments, as are Visa and Master Card. This card offers you your credit score, FICO, free every month on your statement. Does not charge annual fee. The card promotes 0% on purchases, the first 6 months.
If you have trouble paying on time, this card does NOT increase interest. Do not charge penalties for paying late, for the first time only. Offer an attractive 5% cash-back bonus or cash bonus with your purchases on various product categories. Rewards can be used on Amazon.com to make your purchases.
Citi Forward for Students
This is a card that rewards the person who makes their payments on time. The reward is the reduction of the interest rate every 3 months. To obtain this bonus, all payments must be made on time and not use the entire approved credit line.
Citi makes a reduction of .025 every 3 months to a maximum of 2%. This card does not charge annual fee and has a 0% interest promotion for purchases for the first 7 months. Bonus – you can accumulate 2,500 bonus points, after spending $ 500 during the first three months as a member. In addition, you can earn 1,200 bonus points if you pay on time and do not use the maximum credit approved.
Other student credit cards – These are some of the other card options for college students. However, I did not consider them among the best because some charge high interest and others do not have a 0% promotion for the initial period or any other use incentive. But, if you don’t qualify for one of the most attractive cards, you may want to request one of these. Banco Popular Visa ICON, Capital One Journey Student Rewards Credit Card, Bank Americard for Students, US Bank College Visa Card.
Tips when applying for a card for University Students
When requesting a credit card it is important to review the terms and conditions of each option. So you can choose the one that best suits you according to your economic situation.
Some student cards charge 0% interest for an initial period. It is important to understand that this is only for a limited time and you should know what the new interest rate will be at the end of this period. This is very important if you are going to keep a balance (if you are not going to pay the full debt every month).
Bonus and incentive cards can be a good option because you get paid to use them. But, care must be taken because some of these charge high interests.
Rewards vs. Low interest – When considering the benefits of a student credit card, what is your preference? Get rewards or pay a low interest rate ? The low interest card is recommended, if you are going to keep a balance in the account. If you are going to settle the debt every month, a reward card is a better option.