Students are the section of society which is just starting out on the financial front. Most of the students hence are highly unlikely to have a good credit score or a credit history at the first place. But in a place where everything is driven by the credit history, students too need to check on ways to improve their credit score and build a credit history gradually. Many students add to their credit scores with the help of co-signers or having their parents or guardians mentioning them on their credit card. This way, students can simply make use of someone else’s good credit history.
Student life is bound to have some shopping and mostly a few things more than others. There are many good student credit cards, which students can now apply for and improve their credit history. A very good example is the Citi forward card which has a regular APR as low as 13%. Most normal credit cards have an interest rate so low and unless the student overspends or misses the monthly payment, the APR doesn’t even come into picture. What is good about this card is 100 points that you get for each payment you make on time, which you can redeem later for cash.
Another card called Citi Dividend too is very competitive. This card is specially designed for students by the looks of it. That is because it offers 5% cash back on purchases in drug stores, gasoline stores, supermarkets, utilities and convenience stores. Although, the percentage drops to 2% after 6 months, one has the added advantage of getting 1% cash back for every purchase made with the card. The annual fee of this credit card is zero, which is another factor worth feeling good about.
If a student doesn’t have a good credit but has a fair credit, he or she can go for the discover card which has a slightly higher APR of 13%. However, the card has some brilliant offers including a double cash back bonus for expenses at restaurants and gas stations, two places students are likely to visit the most. One can also get cash back of up to 20% at the online shopping mall and a 1% unlimited cash back on all purchases. Imagine getting some money back after you buy those massively expensive text books. For those thinking of a balance transfer, this card offers a 0% APR in the initial period.