It’s not an easy task to select your first college student credit cards because you have many options you want as cash rebate on rentals, airlines, gas station, bookstores, movie, and on and on. Maybe you are the king of student who will save money on your college student credit cards to use a gift cards and at least double the value of your savings for a very specific offers. Who knows? This is what we call cash rewards. Citi card are well-known, mtvu too but do you know if it fits your real needs. You should also take into account protection against card fraud and why not card debt.
Here’s what you have to look for about college student credit cards:
If you're applying for a college student credit card, chances are it's going to be your very first credit card you apply for. Like anything we do in life, when it comes to doing something for the first time, it's going to be completely foreign to you. To help make the situation better, I will try to explain how they work and how you can find the best one that can suit your needs.
A college credit card is no different than a regular card. The only difference you'll find that these cards are designed for college students. You'll also find that these cards are generally issued with a lower credit limit and a higher APR (annual percentage rate). As you build your credit over time, these rates and limits can improve. In the meantime, you'll have to live with the higher rates.
As I mentioned above, you'll realize that you're not going to get the greatest benefits but keep in mind that these cards do generally offer rewards. These rewards can vary from getting gas rewards to shopping rewards, so just because you sign up for your first CC, it doesn't mean you're going be shorthanded and not get anything at all.
What to look for when applying
When applying you're going to have to keep a few terms in mind and it will help if you write these three key words in. These terms are rewards, APR, and annual fee. I'll explain what each one will mean to you and how you can find the best rate.
Out of the three I listed above, rewards will probably be the least of your concerns but it should be something you keep in the back of your head. You'll be surprised on how many people use a credit card just for the rewards. Remember if you pay them off in full each month, you can really reap the rewards of the card. In order to find what reward will work best for you, simply look around at what's being offered and see what will best suit your needs.
When it comes down to applying, the APR otherwise known as annual percentage rate is probably the most important term when it comes to your college student credit cards. This is the rate that will be charged to your unpaid balance monthly. Remember, if you pay your bill off on time in full, you won't have to worry about this rate. But, if you think you're not going to be able to pay this bill, make sure you find the lowest rate possible.
Our last term mentioned is the annual fee. With credit cards for college student, you're probably not going to find many cards with an annual fee but this is something you'll have to look out for when you apply for a card. Try and avoid a card that has an annual fee. There are so many cards on the market that don't have you pay an annual fee.
When you're looking for your first money card, be sure to compare the cards and keep the terms I mentioned above in your game plan. If you can do this, you'll be on the right path to a perfect choice.
I personally hope you have more knowledge and more decisive information to identify and select your college student credit cards. Yes, it’s difficult to make a choice but what you need during your university period is cashback. You cannot jump on the first “opportunity” without knowing what you have just learned in this college student credit cards article. Look at a full choice from Capital one, bank of America, discover, mastercard, American express, visa, Citibank and theirs citicards, chase. Again, the logo on your card is a second option... and options without annual fee are your critical option. That’s the way it is to make no mistake on your college student credit cards.
All the best.
Author box: M. Kevin offers expert advice and great tips regarding all aspects concerning student CC.