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Features of The Best Credit Cards for College Students

While college students should avoid getting into any additional debt, having a credit card at their disposal can be very important to establishing a solid credit rating. While someone who has established credit may already know what features to look for in a new credit card, college students should pay particular attention to the following features:

Cash-Back Rewards

Blog Features of The Best Credit Cards for College Students

Because college students tend to use credit cards for everyday expenses including books, having a card that offers cash-back can be beneficial. Before applying for these types of cards, it is important to review any limitations on cash-back and determine how the rewards may be used and how they accumulate. Compare credit cards to find the most beneficial with cash-back rewards, low introductory rate officers and is best for college students.

Travel Rewards Cards

If a college student lives far from home and flies home for holidays and vacations, a travel rewards card may be helpful. Not only do many of these cards offer a decent interest rate but in many cases, the rewards add up for free flights, discounted hotels and even discounts on meals. A Member Financial Representative at Oklahoma Central Credit Union may be able to help you identify the right card to meet your needs if you are interested in travel rewards.

When College Students Get Rejected for a Credit Card

In some cases, a student may have insufficient work experience to qualify for a credit card on their own. Parents still have options if they wish to help their college student build their own credit record. One option is to find a credit card that allows a co-signor. Another option may be to suggest a secured credit card. Secured credit cards allow the student to open an ancillary savings account and their credit line is based on the amount of the deposit. Using the card and payments on the card are reported to credit bureaus in the same manner as any other credit card.

College students will have to start their own financial planning and will have to establish their own credit in order to later qualify for home loans and automobile loans. Understanding what options are available for credit cards for college students is important to help students become more financially independent.

If your college student is ready to start considering building their credit by getting a credit card on their own, talk to a Member Financial Representative at Oklahoma Central Credit Union by calling them today at 918-664-6000, select option 8, to learn more about what types of credit cards are available and to determine what features are available with each type of card.

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