Types Of Student Credit Cards

Types Of Student Credit Cards
By: Tom Tessin

If youre new to the credit card world and you just started up college or youre just looking for that particular credit card, you may think at first that youre going to get a boring credit card that offers nothing for you. What youre going to find out is that there are a lot of credit cards out there designed for students that offer a lot of rewards and options.

Like most credit cards, credit card companies dont rip off the student crowd. From gas rewards to cash rewards, youll be able to find cards that fit your needs. A few differences you may see in the credit card are the slightly higher interest rate and low credit limit. This of course can be improved over time when you prove to the credit card companies that youre a responsible candidate. This is the purpose of a credit score.

Before you apply for your credit card, you should know what kind of cards that are out there that caters to college students.

Point Rewards System

A majority of the cards youll probably look at offer a point reward system. A popular reward system if Citi Banks Thank You Network. The concept is fairly simple. Every dollar you spend, youll receive a point. These points then can be turned in at Citi Banks online store. At this virtual store, youll be able to purchase just about anything. From gift cards to TVs, they have it all. If youre going to apply for a credit card, you will definitely want a card that offers something similar to this so you get something for your money.

Cash back Bonus

Like the point system, a cash back system is a little different because youll receive money back instead of points. This is a nice system if you would rather just receive a rebate instead of getting points and having to spend them later. A cash back system is very simple. Depending on the card, you will receive a particular percentage. If your rate is 1% cash back, youll receive 1% of your total bill back as a refund.

Airline Miles

This type of reward is very rate but there are student credit cards out there that offer this type of reward. Even though its not that popular among college students because not that many students fly, it can be rewarding if you do travel a lot. This system is basically a dollar per mile deal. Every dollar you spend, you will receive an airline mile. Most credit cards that focus on airlines are tied up with an airliner. This means that those miles will only be good on that airline.

Auto Rewards

This is probably a reward that many college students could use. This type of reward offers rebates on gasoline fillips, auto maintenance, and more. On the market today, Citi Bank offers a credit card that will actually reward you for every mile driven. This can be great if you tend to travel a lot.

As you can see from the above list, there are a lot of rewards available out there. If youre going to apply for a credit card, most people will recommend that you apply for a card that gives you rewards. Its always better to get something instead of nothing.


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About the Author:
Tom Tessin runs and operates that focuses on student credit cards.