Going to college is an adventure and also a time when many young adults grow up and become more responsible. Part of that maturing process involves managing one’s finances. Students can build a credit history by having a credit card that provides them with rewards and benefits.
One of the most popular credit cards for college students is the Discover Student More Card. It has no annual fee, no introductory APR for balance transfers, and a zero percent purchase APR for the first six months. After the introductory period, the APR is a variable 13.99 to 20.99 percent.
Benefits include a five percent cash back bonus on changing products like groceries, gas, and restaurants. A five to twenty percent cash back bonus is provided for items purchased through the Discover online shopping mall. Cardholders automatically receive up to one percent unlimited cash back for everything else they purchase.
The Capital One Student Rewards Credit card also features a zero percent introductory purchase and balance transfer APR, with a 24.9% variable APR thereafter. This card has no annual fee and provides two percent cash back bonus on books, cell phone bills, entertainment, and restaurants. It offers one percent cash back on all other purchases. Cardholders can specify the method in which they would like to receive the cash back bonus, including automatic redemption.
The Citi mtvU Platinum Select Visa Card for College students does not require a cosigner and has no annual fee, introductory purchase APR, or introductory balance transfer APR. Regular variable APR is 12.99 to 21.99 percent. Card holders earn five ThankYou Points per dollar spent on specific purchases like movie tickets and one ThankYou Point per dollar spent on all other items. This card rewards students with up to 2,000 ThankYou Points two times per year if they have a good grade point average.
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