I was looking at different colleges and
states to reside in such as Ogden Utah, Las Vegas and Phoenix at the
time. I had some long meetings with my guidance counselor to discuss
scholarships, housing and student loans. Yet when the time came to start
college I didn't realize how much extra cash I would need for the small
things such as school supplies, books and even food. Plus guidance
counselors don't discuss getting started on your own and building credit
scores so that it's easier to purchase homes and cars once I had
graduated. That's when I did some research and found some good credit
cards for students.
So what features do you look at when looking
for good credit cards for students? Many offer different incentives and
have a lot of details attached to them.
Fees: All credit cards
have fees of some kind but some offer less than others such as an annual
fee. You don't want to have to pay an annual fee to use a credit card
because this is just extra money that the company takes in for using
their card. There are also late fees, cash advance fees and over the
limit fees. So find the one with the least amount of fees because in the
end it will help you especially if you run into any emergencies.
Reward
points: Many of these cards will offer rewards such as 1% cash back on
all purchases. This is cash back into your wallet which is a good thing
for students and can be used for those school supplies and books. Look
at all of the limitations and what kinds of reward points are offered
back on different purchases.
APR: APR is the annual percentage
rate; this is the rate that is charged to your account for the amount of
cash you currently have charged to the card. Many companies will offer
an incentives zero percent interest rate for the first so many months.
After that your APR is decided by your credit score and worthiness and
usually has a range you can fall between. You will want to make sure to
find the best APR that you can since the smaller the APR the less cash
you pay out.
Protection: Any good credit cards for students will
offer fraud protection. This is important if you ever lose your card or
your identity because the company will pay anything that you have not
charged to the card yourself. Many cards also offer travel assistance
and free insurance on car rentals.
You will want to make sure to
find the right loans for you as a student and what will work with you
now and possibly in the future. Read through all the fine print and find
the best credit cards for students.
Thursday, May 16, 2013
Best Credit Cards for Students
11:42 AM
Unknown
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