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Best Student Credit Cards for 2013

Every year in August, as students head back to school, Credit Card Approval Center reveals our list of choices for the Best Student Credit Cards.

Having a student credit card is not only extremely convenient for students as they discover they may have unexpected expenses, student credit cards are also an important stepping stone as young people begin to build their individual credit history.

Your credit history is something that will follow you throughout your lifetime. It is representative not only of your financial responsibility, but your overall personal responsibility as an adult. It is therefore extremely important that you learn to manage your credit responsibly and strive to maintain a good credit rating.

A damaged credit rating can take years to recover from, and would severly impact your ability to obtain any sort of credit. Therefore, it is important to get off on the right foot and stay on track.

Your credit rating may be considered by a prospective landlord when you are applying to rent an apartment, or by an employer as part of their hiring procedure. It will most definitely play a major part in your future ability to make a large purchase, such as that awesome car you have your eye on, or at some date in the future.. a dream home to begin your family.


Student Credit Cards

Special Offers Give Students a Chance to Earn 5% Cash Back on Purchases

Our Top Choices for Best Student Credit Cards of 2013:

 

3rd Place:
Citi® Dividend® Card for College Students:

The Citi® Dividend® Card for College Students offers 5% cash back in various categories that change quarterly. You will receive 1% cash back on all other purchases. At the end of each quarter you will be required to enroll for the next quarter's 5% cash back categories.

People always wonder why they have to enroll for each upcoming quarter's rewards. We think the reasoning behind this may be that the issuers want to prevent any confusion. They want to be sure you are aware that the current categories are expiring and confirm that you understand what the new categories will be for the upcoming quarter.

These categories can be movie theaters, department stores, travel and much more.

 

2nd Place:
Discover it® Cards for Students:

The Discover it® Cards for Students offer 5% cash back in categories which change at the beginning of each quarter. You will receive 1% cash back on all other purchases. At the end of each quarter you will be required to enroll for the next quarter's 5% cash back categories.

There are two Discover it® Cards for Students that you can apply for. One of them will give you $20 cash back when you make your first purchase within 3 months of opening your account. The cash back will be applied to yiour account as a credit.

The second option gives you 0% interest for 6 months. Depending on how you plan to use your card.. this will determine which card is right for your needs.

If you have one fairly large purchase you are intending to use the card for.. and would like to have 6 months to pay for that purchase with 0% interest.. then you should apply for the card which is offering the 0% introductory interest period.

Keep in mind, you should not use the card again during this 6 month period, or until such time that you have paid off your purchase. This will assure you do not wind up paying interest on your initial purchase, so long as you make all payments on time and pay off the balance within the 6 month interest free period.

However, if you only intend to use your card occasionally, and plan to pay it off each month when the statement arrives, then the interest rate won't be an issue. In this case the card offering the $20 cash back bonus would be the best card for you.

 

1st Place:
Citi Forward® Card for College Students:

The Citi Forward® Card for College Students offers you 1 ThankYou® Point for every $1 you spend. Plus, you can earn 2,500 bonus ThankYou® Points after spending $500 within the first 3 months of cardmembership.

Earn up to 2% Purchase APR reduction, when you make a purchase, stay below your credit limit and pay on time 3 billing periods in a row (0.25% each quarter 8X maximum). You can also earn up to 1,200 bonus ThankYou® Points for paying on time and staying under your credit limit

ThankYou Points can be redeemed for a large variety of rewards and experiences which include: tickets for events, movie ticket certificates, travel, gift certificates for many of your favorite stores and restaurants and much more. If you prefer cash, you can also redeem your ThankYou Points for a check in $50 or $100 denominations.

We have chosen this card as our favorite due to the fact it is very simple and straight forward, with no requirements to enroll for the rewards on a quarterly basis.

We know you have more important things on your mind than trying to remember exactly what your credit card rewards are for the current quarter.. and/or trying to remember to re-enroll every three months for the next quarter's rewards.

With the Citi Forward® Card for College Students you always know what your rewards are and can continue to save up your ThankYou Points for the rewards of your choice.

There are no annual fees for any of the above suggested student credit cards.


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