Best Student Credit Cards
The features of the credit cards which are best for students are not very hard to describe. The reason is that college going student and high school student belongs to the segment who is generally not working anywhere. This segment has many needs which can be fulfilled by good student credit cards like latest mobile phones, books, food bill and the list is endless. This student segment is not disciplined and thus should have a credit card which should not put him in high debts. I have compiled a list of top seven features that best student credit cards should have.
1) Annual Fee : The student credit cards should have low annual fee and preferably these credit cards should have no annual fee. There are many cards available today which offer this feature.
2) Formalities : Ideally best student credit cards should have minimum possible formalities like requirement of co-signer and paper work. These formalities can take a student's precious time.
3) Easy To Apply : The student credit cards should be very simple and easy application feature. The student should be able to apply for credit cards online and at minimum cost.
4) High Grace Period: Ideally , the students should pay their credit cards bills well in advance or atleast on time but this rarely happens and credit card companies charge high interest rates for not paying in time. Thus , there should be grace period so that student can avoid interest charges.
5) Reward Options : Student credit cards can also be judged on the basis of reward these cards provide to students who do good amount of purchases through credit cards. The rewards should be relevant to the student segment like providing free movie tickets.
6) Credit History : Student credit cards should allow students to create credit history so that students can use these credit cards later in their carer when they require bigger loans.
7) Low Interest Rates : The student credit cards should offer low interest rates. 0% interest rates are desirable but most credit cards companies offer 0% interest rates for a short introductory period for ,say,six months .
Above list of desired features in student credit cards is by no means complete and may go on and on but if a student credit card has the above features it can certainly be called the best.
