There are many types of credit cards, and finding the best one for you depends completely on your lifestyle. So to give the best options for everyone’s lifestyle, we’re starting a series of posts to give advice on choosing the best credit card that fits you.
Now credit cards can certainly be ranked by a vague list of all the offers presented, but the relative value of each really depends on who’s using them. For example, someone with excellent credit who travels frequently will require a different card than a student looking to avoid interest on a large upcoming expense. Whatever your goals, finding the right card offers can help you in a number of ways, from lowering your interest expenses to free flight/hotel upgrades with your vacations this year.
Week 1- Student Cards
The 2009 Credit Card Act does indeed contain language that makes it harder for the under-21 crowd to open credit cards, but doesn’t make it impossible. Basically a co-signer must indicate that you have the assets or income to independently make minimum payments on a credit card. Considering that minimum payments on a starter credit card are usually around $15 per month (3% of the available credit), this shouldn’t be too high of a hurdle to jump.
Citi Dividend Card for College Students – The card sports a 0% intro APR on purchases for seven months, only requires good credit to be approved and carries no annual fee. As with all Citibank student credit cards, the Citi Dividend Card for College Students does NOT require a cosigner. Also, cardholders earn bonus cash back each quarter on new must-have categories like department stores, travel and more, with enrollment. 1% cash back can be earned on ALL other purchases and if you’re unable to pay off your credit card in full each month, the after intro APR is a respectable 13.99% – 23.99% variable.
Discover it for Students – Discover has always offered top-notch rewards. This card offers up to five-percent cash back rewards on some purchases and has no annual fee with a zero-percent introductory APR. This card also has features such as fraud protection and travel assistance, to help students enjoy the benefits of a credit card without getting into financial trouble.
Capital One Journey Student Rewards Credit Card – With low fees, good benefits and excellent rewards, this is a good card for students who want to start building their credit. Cardholders receive 1% cash back on all purchases, and a 25% bonus each month when they pay their bill on time. Other benefits include an extended warranty program, auto rental insurance and 24-hour travel assistance service. The standard interest rate is 19.8% and there is no annual fee for this card and no foreign transaction fees.
Have any cards you’re curious on how they rank? Feel free to also let us know below of any types of cards that do fit your lifestyle!