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Best Credit Card Offers For Students

By: EconomyWatch Content Team Date: 21 January 2010

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For college students starting the freshman year or returning as an upper classman, a credit card can be beneficial. It is important for students to understand that credit cards of any type should only be used for necessary purchases. To help, parents can provide their children with some counseling on how to properly manage a credit card and then together, begin searching for the best credit card offers specifically designed for college students.

One option instead of looking for the best credit card offers involving a card for the student would be for the parent to get a secondary card off his or her own credit card account. In this case, the parent could choose to keep only a $500 available balance on the second card and have the opportunity to monitor spending and payments. If the parent were to find a payment was due but the student had not yet made it, then the parent could make the payment and settle things with his or her child later.

If students want to look for the best credit card offers specific to a card they would hold, they need to understand that the type of card is going to rely heavily on the credit report. The FICO score would show the issuing company how responsible the individual is, which would help determine not just card type, but also the interest rate, and other terms.

For the best credit card offers for students to secure on their own, it is essential that students be very careful in that card companies and even banks will use all types of marketing strategies that tell only partial truths. Because of this, students need to read the terms and conditions before submitting the application. This would tell them the amount of interest being charged, all applicable fees, grace period, and more.

Although students can search for the best credit card offers by searching the internet, we wanted to provide some specific options that are considered to be among the best.

· Citi mtvU Platinum Visa – This is one of the best credit card offers for students, designed to provide a 5% cash back reward as a thank you for choosing the card. The rewards would be for purchases made at coffee shops, restaurants, music stores, theaters, bookstores, and even video rental companies. Additionally, this card provides one point on all other purchases and it starts with a 0% APR during the six-month introductory period.

· Discover Student Card – Another of the best credit card offers is from Discover that allows students to earn 5% unlimited cash back for a variety of categories to include restaurants, gas stations, clothing stores, etc. This too has a six-month 0% APR introductory.

· Capital One No Hassle Cash Rewards – Although Capital One has several student cards, this is considered one of the best credit card offers. In this case, students would earn 1% cash back on all purchases regardless of where the money is spent. This also includes a 25% bonus paid annually for the cash back rewards.

Capital One No Hassle Cash Rewards is a trademark of Capital One http://www.capitalone.com/

Discover Student Card is a product of Discover Card http://discovercard.com/

Citi mtvU Platinum Visa is provided by Citi Cards https://www.citicards.com/cards/wv/home.do