As parents, have you ever thought about giving your kids their own credit cards that they can use for school? You might be a little worried about giving your kids credit cards because there are millions of people with unpaid credit card debts and you might think that giving your kids credit cards is a recipe for trouble.
Even if this is true, you can also look at the good things about it. There are also some good things about credit cards for students. Most parents who have tried giving their kids student credit cards can say that this is a good way for them to keep track of what their kids are spending. You have to keep in mind that if you want to give them free student credit cards, you will also have to teach them about discipline and responsibility.
Your kids are either in high school or college, and you know that they can learn to handle their money well. As soon as you get their student credit card bills, you'll be able to keep track of all the money they spend in a number of ways. Take a look at the following tips to help you decide which student credit card to get.
Types of Credit Cards for Students
There are always different student credit cards to choose from. The deals may be different, and you may want to take some time to see what's on offer. In this case, you can be sure that the choice you made is the best one you can think of.
The Citibank platinum card for students. This type of credit card for students fits the needs of most college students the best. In an easy way to look at it, the Citibank Platinum Student Credit Card has an introductory period of six months with an APR of 0%. This means that there will be no interest on purchases made in the first six months. The same offer may also be available for balance transfers, as long as the terms and conditions have not been broken. There is no need for a co-signer, so the application is pretty easy.
The Discover clear card for students. With this type of card, the cardholder can get a bonus of up to 5% cash back. Such a bonus might never end at all if the feature is used a lot. Gift cards and certificates from partners of the Discover student credit card are another type of bonus for this type of student credit card. The offer doesn't cover balance transfers, which is a shame.
The MTV platinum visa from Citibank. With this student credit card, the college student who has it gets five points for every dollar spent at record stores, restaurants, video stores, bookstores, or theatres. This is a way for the credit card company to say thank you.
The Citibank credit card of the driver. Again, the 0% APR is only for the first six months, but the offer is good for both cash advances and balance transfers, which is good news. Rebates can be used on both new and used cars.
The Chase student credit card has a lot of options. With this type of student credit card, the cardholder can earn points with every purchase. These points can be used to get free gift certificates.
Online, you can find a lot of information about the different types of student credit cards and the deals that come with them. Your smart choice is important. You do need to make sure that you write down the most important information about their APRs, interest rates, and other hidden fees.
