As parents, have you ever considered giving your children what they can claim as their own student credit cards? You may be a bit frightened considering the fact that there are millions of cases of unpaid credit card debts and you may perceive that awarding your kids with student credit cards means a trouble set to a boil.
While this may be true, you can as well look at the brighter side of it. Student credit cards have their own advantages also. Most parents who have tried giving their children an access to student credit cards can tell you that they find such mode an effective way of tracking the expenses of their kids. You have to take note that with the thought of freely giving them student credit cards comes along your own imparting to them the lecture on the concepts of discipline and responsibility.
As you know, either your kids are in high school or in college; they can become successful in controlling their expenses. As you get hold of their student credit card bills, you are able to exercise the power to monitor whatever expenses they incur for several instances. To help you in deciding which student credit card to avail of, take a look at the following insights.
Types of Student Credit Cards
There is always the availability of the different student credit cards. The offers may vary and you may take time to scan whatever is in store for you. In this case, you may be rest assured that your choice is the best that you think it ought to be.
The Citibank platinum student credit card. This type of student credit card is most applicable for the demanding needs of most college students. In an easy light, the Citibank platinum student credit card contains 0% APR within the introductory phase covering a period of six months. Meaning, the purchases made in the first six months will earn zero interest rate. For balance transfers, the same offer may likely be available provided that no default in the terms and conditions has been accrued. The application is quite easy because no co-signer is demanded for.
The Discover clear student credit card. This type lets the cardholder avail of up to five percent cashback as a form of bonus. Such bonus may not expire at all so long that the feature is often used. Another form of bonus for this student credit card type is the gift cards and certificates which can be redeemed from the partners of the Discover student credit card. Sad to say, the offer does not cover balance transfers.
The Citibank MTV platinum visa. With this student credit card, the college student cardholder is automatically benefited with five points as a form of an expression of gratitude for every single dollar that is spent at the record shops, restaurants, video stores, bookstores, or in theaters.
The Citibank driver’s credit card. Again, the 0 APR applies for the first six months but luckily, the offer covers both the cash advance and the balance transfers. There are rebates available for new or used cars.
The flexible Chase student credit card. In this sort of student credit card, all transactions allow the cardholder to earn points that enable them to access gift certificates for free.
There is plenty of information available online about the kinds of student credit cards and the offers that come alongside them. Your wise choice matters. You have to clearly ensure though that you note the most essential things regarding their APRs, interest charges, and other hidden fees.