One of the best kept secrets among college-bound first-time credit card holders are those who might be working part-time or taking a break from earning money at work to go back to school are student credit cards. Student credit cards are primarily for students attending college or technical school, and can provide huge cash-saving benefits while you’re in school and not earning a full-time salary.
Student credit cards are designed to assist students in learning how to manage credit safely. Most students have little to no credit history, and therefore are often considered higher credit risks. Student credit cards are issued at a higher interest rate, so it is to your advantage to convert it over to a regular credit card once you have established a good credit rating.
Some of the better student credit cards offer perks, cash back, and sometimes additional rewards for maintaining a good GPA. Here are some of the best credit card deals for students:
Discover It Student Cash Back Card is one of the best cards currently available. It has zero interest for the first six months you have it and zero yearly fees. You have matching unlimited cash back for the first year you have the card. This means that whatever cash back you are eligible for, Discover matches it, essentially doubling your reward. Refer a friend and the company gives you $50 for each person who is approved for the card. Get $20 if you keep your yearly GPA at a 3.0 or higher (up to five years). Any student expenses, such as books or housing and you get another $100 yearly.
Wells Fargo Cash Back College Card is another very good student credit card. Students earn 3% cashback on routine items such as groceries, gas and prescriptions. Wells Fargo offers zero interest on those purchases, or on balance transfers from other higher interest cards.
American Express offers a student account as well. The student account is not a credit card but rather a savings account with options. This is not a bad idea if you are looking to build credit.
The Apple Card does not charge penalties for late payments and there is no yearly fee to use it. It offers 3% cash back on Apple Computer products, Uber transactions, or on purchases you make at a Walgreens store. If you already own an Apple product, such as an iPhone or iPad, or you shop at Walgreens and use Uber, then this is a great little card to have.
Do you have a big balance on a credit card you are having trouble paying off?
By Admin –