How To Choose The Best College Student Credit Card
It can be difficult to choose the right college student credit card because of the many choices nowadays. You have to choose carefully so you can get the best deal and rates.
Realize that the interest rate is very important. Using a college credit card means you are borrowing money from the credit card issuer. If you won\’t pay in full every month, you\’ll have to pay a monthly interest rate on the loan. You should get a college credit card with the lowest annual percentage rate and the longest zero percent interest introductory period. The majority of college credit cards will be very similar in these two regards so the next point to consider is the rewards that you receive for using the credit card.
For many students, their college credit cards are their first credit cards, so they won\’t be familiar with the types of rewards that are better than the rest. The three main reward types that are most useful for students are,
Frequent flyer miles Cash back The free gas
Frequent flyer miles are the best rewards for college students who attend universities far from home. As you use your college credit card you accumulate frequent flyer miles that you can exchange for flights back home – or wherever you want to go. Unlike airline reward schemes, frequent flyer miles can be used on any participating airline, worldwide.
The cash back reward is a points system. When you spend money, you get points that can be exchanged for cash, gift certificates, or discount cards. The amount of cash back that a college credit card awards may seem small but every little helps and you will soon be racking it up.
Free gas when you use your college credit card is the best option for students who have their own car. With gas prices always rising, college students would gain a lot with the rebates and free gas rewards. These free gas college credit cards also offer discounts and points towards other motoring related items so it is worth comparing the different schemes available.
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