A credit card has become a necessity to many for transactions of money, such as booking a hotel or rent a car. Obtaining a credit card without a job is risky, if you are not getting any income. However you do not require a job to get a credit card but a steady income.
Students have no credit history and they have limited experience with any type of credit loan. Student want to build credit score should look for those cards which timely inform the payments to one or more consumer credit reporting bureaus and keep on doing this practice till the end. This is the positive way of building a credit score of a student.
Credit cards help students build healthy spending habits and teach them to manage their finances sensibly. This will help them in upcoming years after graduation.
Credit card offers for students have low interest rates, reasonable APRs and rewards particularly to attract collage students. Some credit cards give cash back programs and discounts, on the purchases of gas, groceries, dining out and other routine items. Some credit card companies give discounts on getting good grades in collages.
You can compare different credit cards for college and university student finances, available in the market.
Some credit cards do not require any annual fee and give 1% cash back on every purchase. This card comes with one year complimentary subscription to Amazon Prime. They do not require APR, but offer some perks on the purchase of different items. The cash back, gift cards and merchandise can be redeemed into cash but redemption value may vary.
Some credit cards offer points on purchase of gas and groceries and sign-up bonus too. They do not require APR until 7 months after opening account.
There is a secured credit card where you need to deposit some amount before start using it. By additional deposit your credit limit will be raised. Timely payments will allow you raise in credit limit from the company as reward. You have to purchase APR but it is manageable. This credit card is ideal for students want to build good credit score.
Another secured credit card, need deposit before start using credit. But after timely paying credit loan for 18 months, your deposit will be return to you and use credit card as usual. The credit company reports your payment pattern to 3 major consumer credit reporting bureaus, help build credit score. They do not offer any rewards and sign up bonus. There is no annual fee and introductory APR but cost 3% transaction fees.
A student friendly credit card allow you many cash back rewards on purchasing of gas, groceries, drugstore and many eligible items for six months after opening the account. For twelve months you will enjoy 0% APR on eligible purchases. No sign-up bonus and annual fee.
The ideal credit card for student; means more rewards and fewer fees. They are new adults, entering a new world of responsibilities and our task is to make it easy for them.