STUDENT CREDIT CARDS
The process of applying for your first ever credit card could prove to be an exciting and fun time. It would be like your first step into adulthood. If you think of credit cards, you might be thinking that it could just lead into trouble. This is because a lot of Americans have little or no idea on how to effectively manage their money to avoid severe debt.
Student Credit Cards could prove to be great and convenient ways to help you manage your finances. This would of course depend on you and how you are planning to use your student credit card. If you would be able to manage your money and carefully stay away from debt, then credit cards would be a fantastic resource. However, if you feel that you might fall into accumulating debt, them it might be advisable to not use credit cards for now. It would probably be better to just get one once you have a stable job.
If you do opt to get a credit card for yourself, here are some of the types of student credit cards.
1. Point Rewards System
Most of the cards that you would be coming across with would be offering some kind of point-reward system. For instance, Citibank's popular reward system offers that for each dollar that you would be spending, you would be receiving a point. After such time that you have been able to accumulate enough points, you could then exchange it for a rewards item that you choose from a wide selection they offer.
2. Cash-back Bonus
Similar to the point-reward system, cash-back bonus systems would also give you something for every dollar you spend. But instead of points to be exchanged for rewards, it would be rebates. Different cards offer different percentages.
3. Airline Miles
This kind of rewards program is rare but is available on some student credit cards in the market. Though it is not that popular with college students, as not many fly, it could be rewarding if you are a student who likes to travel. This system would be like a dollar for each mile deal. For each dollar that you would be spending, you would get an airline mile.
4. Auto Rewards
This would probably be the rewards program that a lot of college students could make use of. This rewards program would offer rebates on auto maintenance, gasoline, and a lot more.
