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Guide To Finding The Best Student Credit Card Offers Online

By On June 9, 2015 Under Uncategorized

If you are a college student, now is the time to start thinking about your financial future. Part of that financial future is thinking about building up your credit history and your credit score. Your time spent in college is the perfect time to slowly build up your credit score. A good credit score will open up as many doors to you as your higher education will. These cards can some with perks such as rewards or cash back tied to common student costs such as textbook purchases or entertainment.

When selecting the right credit card there are some features you should look for in a credit card. For example lets face it college life is very busy, so you should look for a credit card that offers email or text alerts when your statement is due, lest you forget to pay your credit card bill. If you miss a payment you will face penalty interest rates as well as hurting your credit score. A missed payment can be a steep hit to your budding credit score. Another feature that comes in handy is text alerts when your spending has hit a certain threshold, to avoid over spending.

If you are a college student under 21, to obtain a credit card you need to do one of two things in order to receive a credit card. The two things depend on if you have if income or not. If you do have income you must be able to show proof of this income in order to be approved. If you do not have income you can still receive a credit card, but in this case you will need to get a co-signer for your new credit card. Many college students find a friend who also needs a credit card and co-sign for each others cards.

Part of college life for most people is having a limited income, so for this reason you should avoid applying for more than 2 credit cards. Ideally one credit card should be enough. Your goal with a credit card should be to learn how to manage credit and build up your credit score slowly over time. Having more than 2 cards could lead you into debt that you cannot pay off, resulting in long term damage to your credit score. A credit score may not seem very important right now, but down the road you will need a good credit score, for things such as an auto loan to a mortgage for your future home. Also applying for multiple credit cards at one time can damage your credit score, due to the inquiries that result. If you are trying to build credit up then slow and steady wins the race.

During this time you must resist the temptation to go on spending spree’s with your credit card. Many college students blow of their responsibility of paying off their credit card statements each month, which leads to credit score damage that can take years to undo. If you manage your credit responsibly, you will be setting yourself up for a bright financial future.

Below is our top rated credit card pick geared towards college students:

Citi ThankYou® Preferred Card for College Students
This is our top pick for college students. This card features a zero percent introductory APR for 7 months on new purchases. It requires excellent credit or a co-signer, so you will likely need a co-signer for this card. The interest rates range from 13.99% -23.99%*, depending on your credit score. Unlike many credit cards geared towards students, this card has a rewards program, called ThankYou points, and a sign up bonus of 2,500 ThankYou points after you spend $500 in purchases within 3 months of opening the account. This card also features EMV chip technology for enhanced security.

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