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Why you should choose the Right College Credit Card |
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Written by roys
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Sunday, 06 August 2006 |
We all use credit cards on a daily basis, but how important is for a college student to have its on College credit card and what guidelines should he follow to choose the right one.
There are so different credit cards being offered to students these days that it may be hard to choose the right college credit card. It is important to select carefully to make sure that you have the best deal accessible.
The interest rate that a college credit card charges is very important to take into account. The fact is that when you make a purchase on a college credit card you are, in result, borrowing money from the credit card issuer.
You should pay a monthly interest rate on this loan unless you pay your balance off in full every month. So, you want to have a college credit card with the least annual percentage rate and the longest 0% interest opening period. The mass of college credit cards will be very like in these two regards so the next point to consider is the rewards that you receive for using the credit card.
For most students, their college credit cards are the first proper credit cards that they will have had and they will not be well-known with the types of rewards that are the best. The three main reward types that are most useful for students are:
* Frequent flyer miles
* Cash back
* Free gas
Frequent flyer miles are the best rewards to possess with a college credit card for students who are attending a college a long distance from home. As you use your college credit card you collect frequent flyer miles that you can trade for flights back home %uFFFD or wherever you want to go. Different airline reward schemes, frequent flyer miles can be used on any participating airline, worldwide.
Cash back on a college credit card is really a points system. As you spend money these points accumulate against your college credit card and they can be exchanged for cash, gift certificates or particular discounts at popular outlets and stores. The total of cash back that a college credit card awards may seem small but every little helps and you will soon be racking it up.
Free gas when you use your college credit card is the best option for students who have their own car. Gas prices are getting higher and some college credit cards offer rewards to help with the rising cost of motoring with rebates against gas station purchases.
These free gas college credit cards also propose discounts and points towards other motoring related items so it is worth comparing the different schemes available.
So that's the information I have on that subject. I hope it was helpful and you were able to get something out of it.
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Last Updated ( Friday, 25 August 2006 )
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