If you’re in the market to get a student credit card today, there are a few things that you need to look at before you hit that apply button. You have to realize that many students make the mistake of applying for the first card they see and you don’t want to be one of these people. Let’s take a look at what you should look at when applying for a card.
Look at the fees: The first thing I always look at is if the card has fees or not. The biggest one to look at is the annual fee. This is what you’ll have to pay annually regardless of how much you use your card. There’s a lot of great cards out there and I don’t recommend you pay an annual fee unless the card has some great benefits that are worth it.
Browse the rewards: The next step that you can take is by looking at the rewards. I don’t carry a card in my wallet that doesn’t have some sort of rewards. I want my credit card to work for me. There are so many rewards out there. From travel to getting cash back on gas. Make sure that you do your research on your spending so that you know where you can capitalize the most with your rewards.
Look for the major logo: When you apply for your first card, make sure that the card has a major logo. All major logos include those of MasterCard, Visa, American Express and Discover. If the card isn’t from one of these firms, you may find that it’s not going to be accepted anywhere and it may not report to your credit. In the end, it’s not really going to help with anything and you’re probably just wasting your time.
Look at the APR: The APR is important because this is the rate you’re going to have to pay on your unpaid balances. This is why it’s always important to pay the card off in full. As long as you can accomplish this, you won’t have to worry about the APR. If you can find a lower APR, that’s great but even if you can’t, pay the card off and you’ll be fine.
When it comes to look for a student credit card, make sure that you do your homework. There’s a lot to choose from. If you do your homework, I can promise you that you will find a great card for your wallet.