Credit Card 101

As a college student, there are many credit card offers. Having a credit card is important for building credit. You can build credit by opening a credit card, making purchases, and paying the money owed on time. With good credit, companies and agencies will know that you are a good borrower and give you lower interest rates or even down payments on apartments, houses, and cars. Good credit also allows people to get lower insurance rates. Credit is built over time, and there are certain rewards associated with different cards. 

(Photo Courtesy of Philip Taylor at PT Money)

  • Discover It Card- This card is a good card for students who are starting out.​
    • It offers 5 percent cash back on different stores like Amazon or restaurants for a certain time.
    • There is 1 percent back on all other purchases.
    • Discover also has a twenty-dollar reward for earning good grades every year based on GPA.
    • They match all cash back earn after the first year, and there is no annual fee.
  • Capital One Journey MasterCard
    • This offers 1.25 percent cash back for users who pay on time.
    • There are no foreign transaction fees and no annual fees.
    • This card is useful for people who want to improve their credit score.

Travelers

  • VentureOne from Capital One
    • 1.25 miles for every dollar spent, 100 miles is a dollar in travel rewards
    • Spend 1,000 dollars in the first three months to get 20,000 bonus miles
    • Rewards do not expire
    • No Annual Fee
  • Venture from Capital One
    • This card is for the more serious traveler.
    • It has 2 miles for every dollar spent.
    • Spend 3,000 dollars to get 50,000 bonus miles within three months
    • Free for the first year, 95 dollars after that