The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • Submit an Article
  • Books
  • Categories
  • Coaching
  • Book Lynnette
  • Money Coach University™
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • Submit an Article
No Result
View All Result
The Money Coach
No Result
View All Result

The 3 Best Credit Cards for Students

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Credit Cards
Reading Time: 3 mins read
best_student_credit_cards
10
SHARES
161
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

 

I can still remember when I got my first credit card. It was the 1986-1987 school year and I was a freshman at the University of California, Irvine.

What I recall most is walking into my dorm room for the first time, and finding applications for credit cards lying right there on my dorm bed. The mattress was completely bare, except for those credit card offers emblazoned with Visa and MasterCard logos.

To me, they were like formal invitations to adulthood. And sure enough, I later felt so grown up – “I’m officially an adult!” I thought – when I got approved for one, and then another and yet another of those nice, shiny pieces of plastic.

Too bad nobody taught me how to use credit wisely, how to budget, or even how to know when – and when not – to use those darned cards. (One good rule: emergency use of credit cards is OK; everyday use for pizza or clothes shopping, not so much).

These days, college kids have it somewhat better. Thanks to Credit Card Reform Act of 2009, credit card firms face restrictions in marketing credit cards to students.

If you’re 21 or under, a must parent co-sign your credit card application; otherwise, you have to show enough income to be able to repay any credit card debt you incur.

It’s OK to Have Credit Cards While in College

Despite the push to regulate credit cards for young adults, you shouldn’t buy into the concept that credit cards are evil or always bad for college students.

On the contrary, when you’re in the college phase of your life, and are preparing for the real world, a student credit card could be a key tool to help you start learning important financial concepts: things like budgeting, managing cash flow, and delayed gratification.

If you can get off to a good start with credit as a college student, hopefully you’ll learn positive fiscal habits that will last a lifetime.

So if you (or your child) are looking for a good student credit card, here are the 3 best credit cards for students that I’d recommend:

The BankAmericard for Students touts a rare find among student cards – a 0% Annual Percentage Rate for both purchases and balance transfers made during the first 15 months (balance transfers are subject to a 3% transfer fee).

So this is an especially good option if you need extra time to pay off expenses like tuition, books or college fees. The regular APR for this card is variable and ranges from 10.99% to 20.99%.

The Capital One Journey Student Rewards Card features a 19.8% variable rate, no annual fee, a 1.25% cash back bonus, plus special credit-building features for those with fair or limited credit.

Those features include access to your monthly credit score, an online credit-monitoring tool, and text and email alerts to help make sure you don’t overspend or miss a payment.

Finally, the Discover It Student Card offers a 0% Annual Percentage Rate on purchases for the first six months and 1% cash back on all purchases. The card’s regular APR is variable and ranges from 12.99% to 18.99%.

What’s more, this card has no over-the-limit fee, and Discover gives cardholders 5% cash back on purchases for dining out, movies, gas, and more (the categories rotate every three months).

If you’re searching for a good student credit card, you really can’t go wrong with any of these three options.

Previous Post

Identity Theft Explained

Next Post

3 Ways Tax Fraud By Prisoners Impacts You

Lynnette Khalfani-Cox, The Money Coach

Lynnette Khalfani-Cox, The Money Coach

Lynnette Khalfani-Cox, The Money Coach, is a renowned financial expert, author, speaker, and media personality, empowering people to achieve financial success.

Related Posts

Photo of the American express credit card and coffee cup

Top Benefits of an American Express Credit Card

by AskTheMoneyCoach

Discover the unparalleled benefits and exclusive access that come with owning an American Express credit card. Learn more now!

Visa credit card sitting on top of laptop computer.

Secrets to Selecting the Best Credit Cards

by AskTheMoneyCoach

Discover the top secrets for choosing the best credit cards to maximize rewards, benefits, and financial security for your personal spending habits.

financial anxiety

How to Deal with Financial Anxiety Now

by Lynnette Khalfani-Cox, The Money Coach

Here are five situations that might cause you to suffer from financial anxiety. Credit card bills to pay. Student loans outstanding. A big mortgage or car note. Sky-high medical bills. Family members that seem to always need loans or cash gifts. Does any of this seem familiar?  First, understand that you're...

AskTheMoneyCoach

The Split-Second Shopping Decision That Could Save You Hundreds of Dollars

by Lynnette Khalfani-Cox, The Money Coach

I have a financial confession to make. Even though I had $100,000 in credit card debt back in the early 2000s, I still use credit cards a lot, for everything from online shopping and utility payments to gas for my car and meal-delivery services. Why would someone with a history...

pay credit card balance in full

3 Items to Buy With a Credit Card During COVID-19

by Lynnette Khalfani-Cox, The Money Coach

Uncertain if you should spend cash or use a credit card during the COVID-19 pandemic? Here are 3 items you should buy with a credit card.

coronavirus credit card debt

Coronavirus and Credit Card Debt: What Lenders Want You to Know and Do During COVID-19

by Lynnette Khalfani-Cox, The Money Coach

If the coronavirus outbreak has affected your income – through a COVID-19 layoff or reduced work hours – paying your credit card debt and other bills may be a struggle. Most Americans have housing payments (either a mortgage or rent), plus obligations like car notes, student loans, insurance and utilities...

Rewards credit cards holiday spending strategy

5 Strategies for Using Rewards Credit Cards When Holiday Shopping

by Guest Blogger

While the goal is to avoid racking up debt, you can use rewards credit cards to your advantage during the holiday season. With some intentional thought and strategy, these cards can help you spend wisely and take advantage of a variety of perks during this time of year.  However, there...

Load More

Popular Posts

  • Car repair

    What to Do If You Can’t Afford a Car Repair Bill

    1534 shares
    Share 614 Tweet 384
  • What to Do if Your Spouse Stole Money From You

    1316 shares
    Share 526 Tweet 329
  • What to Do If You Can’t Afford to Leave Your Spouse

    1283 shares
    Share 513 Tweet 321
  • Here’s Why I Pay My Kids For Good Grades (And Maybe You Should Too)

    1134 shares
    Share 453 Tweet 283
  • What Do All Those Strange Codes In My Credit Report Mean?

    904 shares
    Share 362 Tweet 226
  • Which Credit Report is More Important: Equifax, Experian or TransUnion?

    876 shares
    Share 350 Tweet 219
  • Do This Now If Your Wages Were Not Reported

    857 shares
    Share 342 Tweet 214

Categories

  • Bankruptcy
  • Budgeting
  • Building Wealth
  • Careers
  • Couples and Money
  • Coupons and Deals
  • Covid-19
  • Covid-19 Video
  • Credit Cards
  • Credit Reports
  • Credit Scores
  • Crypto
  • Debt
  • Entrepreneurship
  • Family Finances
  • Featured
  • Identity Theft
  • Insurance
  • Investing
  • Loans
  • Paying for College
  • Personal Finance
  • Press Releases
  • Real Estate
  • Retirement
  • Saving Money
  • Scams
  • Student Loans
  • Taxes
  • Uncategorized

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2023 TheMoneyCoach.net, LLC. All Rights Reserved.

RSS / Sitemap /Submit an Article / Privacy Policy / LynnetteKhalfaniCox.com

No Result
View All Result
  • Books
  • Categories
  • Contact Lynnette
  • Get Coaching
  • Book Lynnette
  • Money Coach University™
  • Home
  • Subscribe to Newsletter
  • Submit an Article

©2009-2023 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist