Choosing the Right Student Credit Card
View PDF | Print View
by: Admin
Total views: 10
Word Count: 453
Before you even take your first class, it is a certainty that you will be receiving credit card offers from all directions. If you are going to school away from home, these student credit cards can be a valuable tool for your day to day expenses and traveling home for visits alike.
A credit card can also help with the costs of redecorating your dorm room to something a little more you. Finding the student credit card which is perfect for you all start with completing an application.
Companies who offer credit cards are in fierce competition for your business – they may even approach you as you stroll around your campus. Some companies offer perks like clothing and food if you'll just fill out one of their applications.
Needless to say, you shouldn't decide on a credit card because of free pizza or a ballcap. Everyone loves getting something for nothing; but this is an important decision. You should decide based on the features of the card and nothing else.
Above all, don't just go for the first offer you get. Compare at least three offers first – or better yet, take your comparison shopping online.
There may be many different companies who want to extend you credit. They might even each offer the same credit limit. How do you choose the right student credit card for you? The first step is to determine how much this card is going to cost you to use.
Some cards come with an annual fee. The other cost to think about is the APR (the interest rate). A card with no annual fee is what you should look for. If you don't have to pay an annual fee, avoid it. You can find one if you look around.
The interest rates you are likely to find will be somewhere between 12 and 18 percent. Besides the interest rate, you might find some other things which might influence your decision.
There affinity cards; such as ones featuring your school's logo. There are also cards for environmental and political groups.
Some credit cards offer you reward points which you can trade in for rewards such as travel. You earn points by keeping up your payments and not spending over your credit limit.
Some stories also points in conjunction with these cards; meaning you'll get more for your money when you shop here with a rewards card. Some even offer cash back; of course, not every purchase will qualify for these rewards.
Of course, you can also sit back and enjoy the free snacks while listening to the campus credit card reps pitch – just keep in mind that these representatives will probably not give you the information you need to make a wise decision about student credit cards.
About the Author
Best Credit Cards A Free consumer Credit Card comparison web site keeps students informed of the best Student Credit Cards while avoiding high interest rates, charges, and fees.
Rating: Not yet rated