Today, credit cards are widely used among college students with lots of new plans call Student Credit Cards. How do students choose which credit card offer suits them the most? What are the pros and cons there?
First is the Capital One® Standard Platinum for Students especially for those students who are looking to build up their credit history and aren't looking for any rewards. The pros for this card are they won't be punished for losing the card (students do this quite often) and students can build their credit history early with zero annual fee. But, there will be no rewards program.
Besides that, Citi® Platinum Select® Visa® Card for College Students is the most favorable because this is a real Rewards card. You can collect points from almost everything with this card, ranging from purchases at restaurants, cinemas, bookstores, video rentals and music stores to maintaining a good GPA twice a year. The points are redeemable for goods. There is no annual fee charged. But, you need to establish credit history to apply fro this card.
Third is the Capital One® No Hassle Cash(SM) Rewards for Students. This card offers no Hassle Cash Rewards card which is meant for students with a limited credit history looking to take advantage of a rewards program. The benefit of this card is user will get cash back from all purchases and 25% annual bonus. However, the bad side of this offer is an annual fee is charged even if you're not using the card.
Other than that, Discover® Student Card, a monogram collection card, allow holders to choose from three different designs and the choice to put their initials on the card's background. This card is great for multitude of reward and rebate opportunities; which certainly appealing for certain people. No annual fee is charged. But using this card, the full 1% rebate is only applicable once you go above $3000. The other rewards don't stack, either, which means that if one applies the other doesn't.
Another type is Citi® Dividend Platinum Select® Card for College Students more or less similar to the standard Platinum Select mentioned above. For this card, we will be able to enjoy cash back on purchases at places that students frequent. No cosigner and minimum income constraint definitely helpful for students living away from home. Nevertheless, the APR is a bit higher than the Standard Platinum. It is not quite as useful if you're studying close to home.
So there you have it folks! The 5 Top Credit cards for College Students. Always be sure of which plan to use and pay your debts, to have a happy college life!
