Banks and unions advertise student cards with bonus points on entertainment and dining. With many issuers, cosigner is not required. Consumers use student cards to pay for meals, tickets, books, and textbooks.
Choosing from Different Cards
There are many benefits to using a student card, including access to cash at any time and up to the limit. Some issuers offer cards with different fees, however, including transaction and processing fees. A prepaid card is one alternative, and the main benefit is that interest is not assessed.
A department store credit card is another option for students, but many issuers offer high interest rates. A regular student card is a good option, whether Visa or MasterCard, with multiple benefits such as cash back, no caps or restrictions, high limits for making timely payments, and others. There are banks that feature student cards with cashback on department store and online purchases. Issuers offer cards to students with fair credit, but applicants with a score below 600 usually require a cosigner. Many issuers advertise student cards with no annual fees and points to be redeemed for cash, media and books, goods, electronics, and other items. Students are also offered points that can be deposited in savings accounts. Together with participating retailers, issuers offer presale tickets, VIP packages, travel rewards, and other perks.
Students are offered credit cards with easy transfer and cash withdrawal options. Those who study in the U.S. may want to apply for an U.S. dollar credit card which helps avoid transaction and other fees. U.S. dollar credit cards are ideal for making reservations and purchases in U.S. dollars. Using a student credit card is one way to meet unexpected expenses, including gifts, car repairs, electronics repairs, and so on. Students use cards to pay insurance, parking tickets, and other costs. Student credit cards are usually offered to consumers who are enrolled in accredited institutions. Students who are employed or have additional income have better chances to qualify. Credit rating, assets, and loan balances are the main factors banks look into. Financial institutions also inquire about serious delinquencies and bankruptcies. Some banks also require account and sort code number, permanent address during the past three years, and other details. To get approved, students are asked to present proof of residence and valid ID.