A Look At The Types Of Student Credit Cards
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
Exploring the Different Types of Student Credit Cards
Introduction
As a parent, you might wonder if giving your children student credit cards is a wise decision. Concerns about mounting credit card debt are valid, but there are significant benefits to consider.
Advantages of Student Credit Cards
Student credit cards offer several advantages. Parents who have provided their children with these cards often find them an effective tool for tracking expenses. Additionally, they provide an opportunity to teach young adults about discipline and financial responsibility. Whether your kids are in high school or college, they can learn to manage their spending effectively. By reviewing their credit card bills, you can monitor their expenses.
Types of Student Credit Cards
Here are some popular options to help you decide on the right student credit card:
Citibank Platinum Student Credit Card
Ideal for college students with demanding needs, this card offers a 0% APR during the introductory phase of six months. Purchases made within this period incur no interest, and balance transfers may also qualify if terms are met. The application process is straightforward, as no co-signer is needed.
Discover Clear Student Credit Card
This card offers up to 5% cashback as a bonus, which doesn’t expire as long as the feature is used regularly. Additional perks include gift cards and certificates redeemable with Discover’s partners. However, balance transfers are not included in the offer.
Citibank MTV Platinum Visa
Holders of this card earn five points for every dollar spent at record shops, restaurants, video stores, bookstores, or theaters. It's a great choice for students with varied spending habits.
Citibank Driver's Credit Card
Offering a 0% APR for the first six months, this card covers both cash advances and balance transfers. It also provides rebates for new or used car purchases.
Chase Flexible Student Credit Card
Every transaction with this card earns points that can be redeemed for free gift certificates, adding value to everyday spending.
Conclusion
With plenty of information available online, choosing the right student credit card requires careful consideration. Pay attention to APRs, interest charges, and any hidden fees. Your choice matters significantly in instilling financial responsibility in your children.
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