Establishing a good credit history is important while you are young, and college students should definitely add this to their list of priorities, somewhere above partying and ranking the best pizza places in town. Fortunately, there are a few credit cards that are currently available which are geared toward helping college students build up their credit, allowing them to move on with their financial lives—like buying a car or a home—once they finally graduate.
Build Credit While You are Young!
Too many people wait until they are wanting to make a big purchase, like a home or car, before they ever even consider what their credit score is. This can be a huge mistake, as having good credit is often a prerequisite for being able to do these things. With that said, starting to build your credit while you are young is extremely important, and taking advantage of some of the great student credit cards that are available can be a step in the right direction. By the time you graduate, you will be well set up to rent a great apartment, buy a car, or maybe even purchase a home of your own!
Get Great Perks and Added Incentives
Using a student credit card to pay for your everyday expenses can also get you many perks in the form of cash back or rewards points—two things that all students are going to enjoy. Some of the student credit cards that are available now even offer bonus points or rewards for paying your monthly bill on time or getting good grades!
Here are a few of the top student credit cards that are available currently, take a look and see if any of them are going to be perfect for you!
Citi Dividend Card for College Students
With a great benefit of earning 5% bonus cash quarterly from Citibank, this card is well worth a closer look. Each quarter, different categories of spending are selected for the 5% bonus. With this added incentive, you can earn up to $300 cash back in one year! This will pay for a lot of pizzas!
If that is not enough to turn your head, then consider the fact that this card will offer you 0% APR on your purchases and balance transfers for the first seven months that you have the card, and then charge you a variable rate of 13.99-23.99% for interest after the introductory period ends.
There are no annual fees and most college students are going to qualify for this card without having to find a cosigner. Build your credit quickly with the Citi Dividend Card for College Students!
Discover It for Students
It’s not easy for students to find good deals on cash back cards. But, the Discover It Student Card can get you 5% cash back on categories that rotate quarterly. For example, some quarters may offer 5% on gas purchases, others 5% on dining, etc. Use your earnings instantly with Amazon checkout!
A new feature we love on this card is the free FICO credit score you’ll get with your monthly statement. A great benefit for college students who are building their credit!
There is no annual fee for this card, and you will pay 0% APR during the first six months, with 12.99-21.99% APR after that period ends. And don’t worry, paying late won’t raise your APR. In addition, you won’t be charged a fee the first time you make a late payment. Choose a customized design from the many templates available, or upload your own favorite photo to truly make your card your own!
Discover it® for Students
Discover it® for Students with $20 Cashback Bonus
Citi Forward Card for College Students
With an added incentive of earning 2500 bonus points when you spend only $500 during the first 90 days that you have the card, this credit card deserves a close look. You can accumulate tons of points by using this card as an everyday spending card, and you can earn bonus points by using it for dining, books, movies, and videos, as well—many things that students spend their money on!
For every month that you remain within your credit limit, you will earn an additional 100 bonus points. Plus, there is no annual fee, and you will enjoy a 0% APR for a full seven months. After that, your interest rate will be between 13.99-23.99%, based on your credit score.
Finding the Right Perks is Important
As a college student, every dollar counts! This is why getting a credit card that charges no annual fee but offers substantial perks in the form of cash back or rewards points is so important! Each of these credit cards offers slightly different benefits, but all are going to keep as much cash in your pocket as possible.
Whether you find that rotating bonus categories helps or getting bonuses for having a great GPA, you are building credit and securing your future! Don’t jeopardize your financial future with foolish spending. Be responsible and make sure that you are paying your bills on time and staying within your credit limit. There is more to a good college life than getting good grades and finding the best pizza. Your adult self will thank your college student self in the long run!