Many college students get by with their education by acquiring student loans. However, there is another tool that can provide that needed financial support for students in college. Yes, credit cards for college students can be a big help. All it takes is wise credit card use and a student can benefit from a student credit card. This article talks about credit cards for college with reward programs. How can a credit card with rewards contribute to your studies?
Student Reward Credit Cards – Are they For You?
Credit card companies introduced reward credit cards to give its cardholders the opportunity to get more out of their spending. Owning the right type of student reward credit card can help you stretch your budget.
Let’s take for example, college credit cards with gas rewards. If you’re a student who drives a car everyday to school, charging your gas expenses to your credit card can give you more savings than you can imagine. Credit cards with gas rebates are ideal for people who spend a lot on gasoline purchases. Aside from rebates, gas cardholders are eligible for discounts from car repair costs and store outlets at gas stations.
Another type of reward credit card is the Frequent Flyer student card. This type of card is ideal for students who study abroad and often travel by plane to get home. By using your card on airline purchases and other travel costs, you can collect miles points and get the chance to fly for free after gathering enough points in your account.
On the other hand, cash back student reward credit cards are the simplest reward card that you can get. Use it to purchase your books, school supplies, groceries or pay your bills and automatically get points in your account. Points can be exchanged for cash, check, or as available credit to your account.
Understandably, a student needs to exercise self-discipline and discretion in using the credit card for spending. As a cardholder, it is a must to pay attention to your payment schedule. Submitting payments on time is the key to avoid additional costs such as late fees or overdue charges.
There are a couple of student rewards credit card choices in the market. You’ll want to find the student credit card with the most reasonable APR. Before signing up for your chosen card, understand the rules of the reward program. Make sure that there are no hidden costs or vague conditions in your contract.
Be responsible with the use of your student credit card. Use it only for important purchases that can help you with your studies. Don’t use your credit card for personal whims or splurges. Remember, your goal in getting a student reward credit card is to be rewarded and save from your expenses.
About the Author
Samantha Wilson is a consultant for credit cards for students. For years she has written student credit cards articles that would help build student credit.