Friday, 15 May 2020

Best Credit Card For College Students

In this article, I am going to be sharing with you what the best credit card is for college students. If you are not in college, you are just getting into credit cards this is still going to be applicable to you, but if you are a college student, congratulation on finding this article. If you know any other college students or if you have any family members or friends that are in college and don't know anything about credit. Make sure you send then this article because it will help them out. What I am going to do in this article is to go over some of the most fundamental basics that you need to know about credit

  • Overview
  1. Fundamental Rules Of Credit
  2. Why You Need To Get Into Credit?
  3. Which Credit Card Is The Best And Why

Let's get started

Fundamental Rules Of Credit

When I was a college student I was trying so hard, back in the day trying to figure out what the best credit card for me would be like and I had a lot of trouble finding that. If you just go on google and type in the best credit card for college students, you never just get one direct answer. There are so many different answers and even at that time I did not even know what credit cards were about, I did not even know how to use it and I had this bad stigma from my parents that credit cards were just inherently bad for you so there is just a lot of things that prevented me from getting this credit card. But if you are someone who might have been someone like me in my situation right now. What you need to know is that. Credit cards are not evil. Make sure you just pay off your credit cards in full. If you utilize the credit cards correctly, you will be able to come out on top by getting free money, and on top of that, you can travel the world completely for free and you get many more benefits that I will share with you more on this article.

Some of the common mistakes that I personally made when I was first getting into credit was thinking that every credit card I got would be okay and that every credit card I got I would get accepted for. You need to understand if you are first starting out and getting into a credit card games, you are limited on the cards you can get accepted for, and the reason why is because you have no history. Credit cards work on the basis that you are going to be borrowing money from a bank in the hopes that you repay them. If you can't repay them in that 30-day period or every month, you have to pay interest on that credit card and that is where you begin to lose a lot of money.

One of the most important and staple rules for anyone getting into the credit card game is the fact that you must pay off your credit cards every month in full. that is literally all you have to do. Just don't carry a balance, paid off in full and you will come out on top. The card that I am going to mention to you in this article has no annual fee, you don't have to pay a single dime to hold this card as long as you pay it off in full.

Why You Need To Get Into Credit?

Here is something you need to know. Why should you get into credit or like I just mention if you get into credit you are going to eventually have to get your own house, you are going to eventually have to get an apartment lease or you are going to have to get your own vehicle at some point in your life. And if you get your credit card now you develop your credit score, as long as you have your credit card and do the most simple thing where you just pay it off in full every month with automatic payments where you do not even have to do anything it will do it automatically. That will build your score and when the time comes where you want to get a mortgage, loan, or whatever it is in the future. Your credit score would work for you.

Which Credit Card Is The Best And Why

The best credit card for a college student is going to be;

Discover Card For Student

The main two reasons why I believe this is the best credit card is because 
  1. No Annual Fee
  2. First Year Cash Back Match Program. That means a decent welcome bonus.

They have a lot of benefits with the discovery card. First of all, like I mention the discover it has no annual fee that means you don't have to pay a single dime just by holding the card. Just make sure you paid off in full every month it will build your credit score. On top of that, discovered offer some applicable cashback categories

Credit cards offer a good amount of protection. So if you are someone that always uses a debit or uses cash. If someone picks up your debit card or they take the cash off of you, you are screwed. That cash is gone, it is incredibly hard getting that money back if someone withdraws money out of your bank account using that debit card. If you use your credit card, say you lose it at the club or you lose it at the bar, you are covered. I am not going to say you are covered 100% but you are covered 99%. If you lose your credit card all you have to do is call the credit card issuer to tell them to lock the card and if you see any unauthorized purchases let them know, call them up and they will usually waive it or get rid of it because it is a credit card company money they have their own department where they fight for their own money backs so losing your card, you will get a bit of protection.

A few more reasons why the discovered card is my favorite card compared to other cards is that they have a program called cashback match.
This is where in that first year all that cashback you get, they match it. If I am getting a 5% category cashback on any type of purchase that is essentially 10% back. That is like getting a discount at a retail store. You usually don't hear about people getting 10% back from a credit card but from the discover card that is what you can do. They also give you free access to your credit report so you don't have to worry about making another account anywhere. If you get your paper mail in the statement you will be able to access your free credit report they will tell on the right side of the statement just what the bar graph is and where your credit score is headed.

I think that is just a really neat little feature that comes especially with a beginner credit card.

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