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Credit Cards for Students - Your First Step into the Financial World

Jun 4, 2013

If you are a college student, your requirements are different from that of your parents, thus the credit cards should also be different. Student credit cards are gaining increasing popularity with the youth. Whenever you are taking a student credit card you should take from a company which is a reputable source for easy loans. the best part of student loan is that they have amazing perks and rewards on the money that you will be spending. Also, if you have a student credit card, it will help you to start establishing a credit score from an early age. These student credit cards pays you back on common expenses for students such as textbooks, restaurants and music. Some of the best student credit cards that you can use are given below.

Discover Card for students

This card offers you some alluring prospects such as a 5% cash back on a variety of categories, up to $1500 spent a quarter and a 1% cash back in all other places for unlimited purchases. But this is not what is best of Discover cards. The paramount features of this card are that it doesn't have any penalty interest rate and also the first late payment fee that you incur will be waived off. also if you are travelling abroad to study you can take the Discover card as your companion as it doesn't have any foreign transaction fees. However, it is not accepted in all countries

Citi Forward card

This is more of a fun card! For every fun activity that you would like to do as a college student, you would get a perk with this card. You will be gathering 5 Thank You points for every $1 that you spent on entertainment and at restaurants. You will also get 1 Thank You point for every 1$ that you spent on other things. Also, along with these, you won't be charged any annual fee and an introductory APR of 0% for the first 7 months. This is mainly done so that you are not overwhelmed with your first steps into the world of finance. other perks include a reduction of 0.25% purchase APR every three months up to 2% if you make all your payments on time and stay below the credit limit. And for every year you act in accordance with this, you get additional 1200 points. However, there is a small downbeat about this card, that is a cap of 75,000 Thank You points.

Other than the above two, there are other student credit cards available too. However when you are choosing a student credit card you should know how to make the decision. If you take a rewards card, you have to make sure that you pay your bills on a regular basis. The interest rate is generally higher on these cards. However, if you spend smartly and in a responsible manner you can get advantages like cash back and points on your purchases. If you are the type who will carry a balance, then a low APR card is what you should get. Rewards cards would be of absolutely no use to you.

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