Student Cash Back Credit Cards

Every year, hundreds of credit card companies flock campuses to offer “the best” deals to students
 
    
With a few strategies like a free mp3 player or iPod, it’s quite easy for a student to accept credit card offers without really thinking hard about it and studying the terms and conditions attached. What students don’t know is that there are actually a lot of benefits that can be obtained from choosing the right credit card. One of these is the cash back or cash rebate offer. There are a lot of student cash back credit cards available and you don’t really need to look too far for them. Here is a list of the top student cash back credit cards from Discover.

The top two student cash back credit cards from Discover are the Discover® Student Card and the Discover® Open RoadSM Card for Students. Both are cash back credit cards that offer as much as 20% cash back on all purchases made through Discover’s online mall and up to 1% cash back on others. The only difference between these two student cash back credit cards is the type of rewards they offer. The Discover® Student Card offers 5% cash back on purchases made from one of these categories: travel, gas, groceries, restaurants and more. Rotated every month, one of them gives 5% cash back while the others stay at a meager 1%. The Discover® Open RoadSM Card for Students, on the other hand, gives two times the cash back on the first $250 charged at gas stations and restaurants. These cash back bonuses can be exchanged not only for cash but also for rewards such as gift certificates from partner brands.

Both student cash back credit cards also offer a zero annual fee and an introductory purchase APR of 0% for the first six billing cycles. This APR will revert back to the variable 14.99% to 19.99% after such period depending on the cardholder’s credit history. Unfortunately, balance transfers are not allowed for both student cash back credit cards.

For cash advances, the rate for both student cash back credit cards is a variable 23.99%. However, under certain circumstances, a default rate between 19.99%* to 24.99% may be applied for purchases and a rate of up to 28.99% may be given for cash advances. Other fees include a foreign transaction fee of 2% of the amount in U.S. dollars, a minimum finance charge of $0.50, and a cash advance transaction fee of 5% of the amount or $10 (whichever is greater). Penalty fees for both student cash back credit cards include a late payment fee of $19 for balances from $250 and below and $39 for balances that are beyond $250.

Both student cash back credit cards also come in over 100 unique designs but are only open for students who are 18 years and older with at least a fair credit rating. Most student cash back credit cards like these do not accept applicants with bad credit rating.


  

Source: Credit Cards For People With Bad Credit Rating


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