In today’s competitive world, everyone from school teacher to Fortune 500 CEO must be aware of the importance of credit and debt in order to function efficiently. Learning credit in early time of life may lead to lifetime success. On the other hand, poor beginning in the world of credit and debit may result in financial hard times and years of struggle. A customer’s credit history will impact his ability to buy a home or get any kind of loan. An ideal way for student to get a good start in financial world is by availing student credit card. Here is the comparison of features and charges associated with student credit cards of different companies-
• Journey Student Rewards from Capital One: This card is specially designed for students to help them in building good credit history, by using it more responsibly. Customer can avail cash back of 1% on purchases and cash rewards which never get expire. Card holder can redeem his reward points anytime or even opt for facility of auto-redemption. On paying credit card monthly bills in time, customer can avail 25% bonus every month. Student can access their monthly credit score and avail tracking tool to track their daily credit limit.
• Discover Student Card: Customer can avail cash back bonus of $25, when he makes his first purchase within 3 months. It will charge intro APR of 0% for initial six months but after that variable APR of 13.99 to 20.99 will be applied on standard purchases. If customer shops through online mode, he can get cash back bonus of 20%. Discover student card holder can avail several rewards without any redemption and annual fee.
• Studentawards WorldPoints MasterCard: It is one of the unique students credit cards that provide cash access from more than 4,30,000 ATMs internationally. Card holder can avail one reward point for purchase made of $2. It will not only provide an access to your online credit account but also offer around-the-clock fraud protection facility. Company offers 24/7 service to their clients and charges 0% for intro APR as well as annual fee.
The major difference between a regular credit card and student credit card is that the latter have higher interest rates attached to it. Because a credit card to young person with negligible credit history means higher risk for a Credit Card Company and that’s the reason why student credit card needs to be operated with extreme diligence.