Cash Back - Student Rewards Card - Credit Card Points
Student Credit Card Types, Rewards, Points and benefits by: StudentCreditCards.com
The cash back and or reward earnings on student credit cards vary from 1% to as high as 10% for different types of purchases. To compare college student credit cards, read through the terms and conditions to determine which college student credit card will give you the highest rewards on your most frequent expenditures. Some college student credit cards even reward you points for maintaining a good GPA and paying on time.
Points can be redeemed for a variety of rewards, including a straight cash back, plane tickets, concert tickets, gift cards, and in some cases exclusive mtvU Rewards, like VIP passes to Spring Break, Studio Tours, and more. Again, to compare credit card offers, look for the card that offers the rewards that most fit your likes and needs.
Most college student credit cards come with a 0% introductory interest rate for six months. Depending on the credit card, this rate may apply only to purchases, but in some cases it also applies to balance transfers and cash advances. In short, if you will be using your college student credit card for cash advances or balance transfers in addition to purchases, look for a credit card that offers a 0% introductory rate on these services.
However, it is also very important to be aware that this 0% introductory rate may only be good for 6 months. What happens after that 6 months ends? Well, the rate could jump up real high. Once again, it is very important to read the terms and conditions very completely.
College credit cards offer great advantages if you pay the balance in full every month. It is best, however, to avoid using your card as a supplemental student loan. Once the introductory rate expires, college student credit cards charge a fairly high APR, from 16.99% and up.
So, what is the benefits of a college student credit card? It can help you build your credit. You have something to help you out in an emergency. You also have a way to just have fun every once in a while. The important thing is to remember it can also hurt you. If you do not behave maturely and have self-control, this student credit card can hurt you in the future.
What I mean by hurting you in the future is your credit rating and history. You credit rating is very important once you get out there in the world. You want to be able to buy a car to start with, but also a home one day. If you have missed payments or defaulted on a student credit card or two. You have just messed up your credit worthiness for at least the next seven years. Trust me when I say you do not want to do that. So, be responsible. Read the fine print and make the right choices for your financial situation. Your future will reward you if you take your time and educate yourself before entering the world of credit cards.
To learn more about credit or to compare major card issuers visit our homepage at: Student credit cards.com
Student credit cards.com @ April 9, 2008