With the fall semester starting up, you have some big decisions to make. Where are you going to stay, who will your roommates be, and what classes will you take? You also have to decide if you will continue on the same financial path you’ve been on all this time, or if you’ll take the next step to building your credit score as high as possible by the time you graduate. If used responsibly, a student credit card can do just that. So, we’re going to show you one of the best options for student credit cards available today.
Student Credit Cards
Student credit cards work the same way regular credit cards do, except that they are only available to college students. The reason for this is because there is an approval process that goes into applying for a credit card, and most students do not have enough credit history to qualify. Student credit cards make this approval process a little easier and help college students get approved for a base level credit card that may come with some great tools and knowledge on how to use them responsibly to build and maintain an excellent credit score. Choosing which student credit card is right for you is a personal decision – you should make sure to choose the card that will work best with your financial situation. We will show you a great example of one of the best student credit cards available and the features that come with it, so you know what to look for when choosing for yourself.
Journey Student Credit Card from Capital One
The Capital One Journey Card is one of the best student credit cards available, for many reasons. Remember that the main objective for getting a student credit card is to build up and maintain your credit score. You will need the tools and education to know how to monitor your score, along with the process to follow in order to build your credit history as much as possible.
Capital One CreditWise
What makes the Journey Card one of the best options is that it comes with unlimited access to the Capital One CreditWise Program. This program allows all Capital One account members, and even anyone who doesn’t have a Capital One account, access to their personal credit score anytime and anywhere they have internet access. It will also let you know key factors that have an effect on your credit score, and simulate how future financial decisions may affect your score. The best part is that it is completely free! To complement the Capital One CreditWise program, you will also have access to Capital One’s Financial Education website to improve your knowledge even more.
Journey Card Benefits
Besides having unlimited free access to your credit score and insight into the effect spending with your credit card will have, there are even more benefits that come with the Journey Student Credit Card. First, after you make your first five payments on time, you could gain access to a higher credit limit. It is important to always stay well below your credit limit to give your credit score the best chance at improving. You can also enjoy extended warranties on the items you use your card to purchase, sign up for auto rental insurance and travel insurance, and eliminate foreign transaction fees. The best part is that you will earn rewards for every dollar that you spend.
What sets the Journey Card apart from many other student credit cards is that you have the ability to earn 1% cash back on all purchases you make. And, if you make your monthly payment on time, they will boost your cash back up to 1.25%. You’re pretty much getting paid to spend money that you had to spend anyways.
Excellent Credit Score
Now that you know one of your options for a student credit card, you can do your own comparisons to find the right one for you. A great place to start is the CardMatch Program. It’s free to use and can even tell you what student, or regular, credit cards you are already approved for. After you get your card, utilize any tools and credit knowledge centers that might be included to get the most out of it. That way by the time you graduate, you will have a diploma along with an excellent credit score to help you tackle whatever personal financial situations may come your way!
This article was contributed by guest author Matthew Coan.