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[S1101]Student Prepaid Credit Card

by Tom Tessin, Tom

When you go to college the first day you find many opportunities to sign up for a student credit card. Most young people are wide eyed and very naïve when it comes to credit cards. That is why many of the credit card companies are able to take advantage by issuing the student a credit card that has high interest rate, monthly fees and an annual membership fee. It is wise to know what you want in a credit card and expect to get it. The agents are eager to get you and possibly your parent to sign on the bottom line explaining how important it is for you to have the ability to get those things that you might need. The truth is that they make a hearty commission if they are able to sell you a high end credit card.

You should not take the credit card because they are being pushy or trying to get you to take the card now. They might not be coming back but that does not mean you cannot get a card. You can go online after you're settled into your room and find a much better deal. You should try to get a credit card that offers you 0% interest for the first year, no annual fees and at least thirty days grace period in case you need it. You don't want to find that you are paying more out for credit than you are for the items you need.

Instead of getting taking advantage by the mainstream companies, there are some things that you can do in order to find the card that fits your wallet the right way and here's how you do it:

Look at the card inside and out – The first thing you want to do is research the card. You're going to want to look at how it's going to benefit you and what you're going to get out of it. Does it look like something you can take advantage of every time you make a purchase?

Look at the fees – Every card has some sort of fees but you want to make sure you're looking at annual fees as well since this generally the highest fee that you're going to pay regardless of the card. If the card has an annual fee, you're going to have to pay that no matter what. This is why it's important that you look for a card without a fee and I'm sure you can find it.

Look for the major logo – When you do apply for a card, make sure you find a card that has a major logo. This way you'll know if it'll be accepted at all the stores nationwide. If you find yourself getting a card without a major logo, you may find it won't be accepted and it may not build your credit as well.

It's always best to do your research first before you apply at a booth because I guarantee you that you'll be able to find a card that suits your needs.

Most credit cards would make it a prerequisite for applicants to have a credit history before their application can be approved. With this, students may find their choices of credit cards rather limited. However, the Citi Platinum Select Card for College Students is designed specially to meet the needs of students.

There are no annual fees incurred for this card, although the APR is higher than most other credit cards. Furthermore, the APR is based on a variable rate with the figure tied to the Prime Rate. Nonetheless, there is always the 6-months 0% APR (for balance transfers, cash advances and purchases) and a cashback reward program to fall back on.

Apart from that, the cash rebate program rewards students with up to 5% of the amount spent on purchases charged to the card. Purchases made with the Citi Student credit card at supermarkets, drugstores and participating merchant partners are eligible for a 5% cash return. Nevertheless, lower cash rebates of 1% are applicable for cash advances and check transactions.

The downside to this is that cash rebates will be issued through $50 checks with rebates for general purchases limited to $300 a year. Other attributes of the card include a 20-day interest-free grace period each month, and a minimum credit limit of $500.

Interest charges are calculated based on an average daily balance method but as always, it may not be advisable for consumers to make late payments. Accounts can be managed online and customers are given the choice to pay their bills automatically. As a safety feature, the Citi Student credit card provides an option for the card holder’s photo to be printed on the card to prevent identity theft occurrences. Ultimately, this card serves as their stepping stone for students towards building a strong credit history, which is vital for their future financial dealings. Concurrently, this would also be a great card to instill spending habits discipline in young adults.

Article Source : The Student Loan People

About Author

Both Tom Tessin & Eric Wasselman are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Tom Tessin has sinced written about articles on various topics from Mileage and Fuel, Education and Finances. Find the best as well as more of Tom's work all at FINDcollegecards.. Tom Tessin's top article generates over 673000 views. to your Favourites.

Eric Wasselman has sinced written about articles on various topics from Airline Credit Cards, Visa Credit Cards and Credit Cards. For more information or to apply for the Citi Student Credit Card, Eric Wasselman recommends Find Credit Cards. See. Eric Wasselman's top article generates over 246000 views. to your Favourites.