For college and high school students, becoming independent is quite a challenge. In connection to being independent, acquiring a credit card is necessary to teach students depenency, and financial control so they are prepared for the real world.
These are the best credit cards for students this year, available now. The challenge now is how can students can build good credit? By having a good credit standing students will eventually benefit from this which will assist them in the future when they go to take a loan out, or buy a house, or purchase a vehicle.
The student’s credit score will also give future employers, lenders, and businesses, the perception of how responsible can he or she be when it comes to matters of finances or even as a person. It will show what and how your financial practices have taken shape and if you pay bills on time.
He or she could use his credit history as reference when they are seeking employment. Oftentimes, employers do background checks on credit scores of their applicants. A good credit score signifies that the applicant is a responsible person and can be a good addition to their company.
Likewise, the credit score can be a basis if the person is not a delinquent payer. In some cases of loans where there are interest rate concerns, having a good credit score will give the privilege of possibly receiving a low interest rate percentage.
Thus, the credit score shall determine whether a person can be eligible for better financing terms, if not for the best terms.
But before they concern themselves with credit building, the first step that they need to do is to find the best credit cards for them, as a student.
The following are the best credit cards for students in 2014.
In terms of rewards, the best credits cards for students in 2014 are below:
1.) Journey Student Rewards From Capital One For Students
Provides 1% cash rebate for every purchases; 25% rewards bonus every time you make payment on time and does not charge an annual fee.
2.) Bank of America Cash Rewards For Students
Provides $100 bonus rewards when they spend at least $500 in the first 90 days, 3% cash rebate on gas, 2% cash rebate on groceries, 1% cash rebate for other spending, 10% bonus rewards when cash rebate is redeemed into a Bank of America account, and does not charge an annual fee.
3.) Discover Open Road Card For Students
Provides .25% cash rebates for $3,000 spent in the first year and 1% cash rebate on the succeeding years, 2% cash rebates for the first $250 spent on gas, and restaurants every month, and does not charge an annual fee.
In terms of easy approval, the best credit cards for students in 2014 are:
1.) Capital One Cash Rewards For Newcomers
Provides 2% cash rebate on travel, 1% cash rebate on any purchases, and does not charge an annual fee.
2.) Harley-Davidson Secured Credit Card
A secured card which offers a $10 Harley-Davidson gift certificate upon initial spending, bonus rewards of 1 point for every dollar on all purchases. However, this card necessitates a minimum refundable security deposit of $300.
After choosing the credit card most suitable for you, keep in mind to spend wisely, and maintain a good standing to have a good credit score.