Finding Credit Cards For Students
Finding Credit Cards For Students
If you have just started college, or if you are a returning student, one of the most important things you can do is start establishing good credit. Credit cards for students allow you to establish a history of on time payments and make purchases online and in stores. They also allow you to choose the rewards that you would like to be rewarded with and you can even use your card to make airline travel bookings. By using these cards wisely, you can build good credit and discover rewards that you never thought possible.
Before you apply, decide what types of cards you want. If you have been out of school for quite some time, your credit may be in a mess. It is not uncommon for people who have been out of school for many years to still have very high interest rates and penalties on their credit cards. This is due to the fact that credit agencies view students as high risk. They assume that the people who will most likely to default on their cards are older people with histories of bounced checks and late payments. If you have had a history of late payments, missing payments and other financial problems, you are probably already a high risk customer and will need to get a low interest and a low APR balance in order to get accepted.
One of the first things you must do when applying for credit cards for students is to pay off any outstanding loans that you might have. If you have had some financial trouble in the past, lenders will look at any outstanding loans and expect repayment of this debt prior to offering you any new credit cards. This means you must pay off any loans that you might have before you apply for any new ones.
When you are looking for student credit cards, make sure you look for those with no annual fee. You will typically not have to pay an annual fee on these cards, but you will have to pay an annual maintenance fee. Most people do not pay this fee, but if you are paying on time and making all your monthly payments, you should consider this. The higher your credit history, the better the interest rates, so it would be wise to pay your credit cards off every month and keep a good 3% to 6% balance ratio on them. If you pay off these cards, you will show lenders that you can be trusted.
Credit Cards for Students
There are many different credit card offers for students including gas credit cards, airline reward cards, retail store card offers, restaurant credit cards and student cards that give cash back and bonus points. If you are a student, you want to choose one of these cards that give the most perks so you can save the most money. It is a good idea to compare each offer to find out which one gives the most for your money. You can discover how to get the best credit card deals by reading the terms and conditions of the different cards.
If you want to build credit, one of the best credit cards for students is the card that requires no annual fee. There are several offers of no annual fee credit cards for students that you should check out. Some of the no annual fee offer cards come with rewards and rebates and other benefits. This means you can save money each month on purchases or any combination thereof. You should read the terms of the offer very carefully to find out if there are any annual fee charges. If there are, find out how much you will have to pay and what kind of benefit you are getting with the no annual fee offer.
How to Find Best Credit Card for Students?
If you plan to travel a lot, you may want to find credit cards that offer cash back or travel rewards credit cards. These cash back cards come in a variety of forms such as cash, gift cards, gas rebates and others. They are perfect for students, because they give the student credit card rewards that last, just like the traditional cards. Travel rewards credit cards usually offer air miles, rental cars and hotel rooms at discounted prices when used at a participating hotel or travel agency. Some cards also offer frequent flyer miles.
If you are in college and you are looking for credit cards that offer cash back or airline miles, you may want to check into student chrome. The credit cards for students with this logo are great because they have a low interest rate, low monthly payment and some of them do not require annual fees. You will be able to discover all the different ways to use these student credit cards that you can discover using the internet. You can choose between the different credit cards that are offered and discover which one has the features that you need. Finding credit cards that offer cash back or airline miles is not that hard to do when you use the internet.