The Best Credit Cards for College Students, Winter 2012

Now that fall has turned into winter, and the frenzy of the back-to-school season has subsided, most college students are most likely studying for final exams. As soon as these exams are over, however, many college students will find themselves with several weeks of free time over their holiday breaks. One great use of this extra free time is taking fifteen minutes to research credit cards geared towards college students to see how you can benefit from owning a student credit card. Whether you already own a credit card, or are applying for your first credit card and hoping to build your credit score for the real world, there are a number of excellent student credit cards currently available.

These are the top 3 best credit cards for college students:

1. Citi Forward Card – The Citi Forward card is a great choice for college students looking for their first credit card for several reasons. First off, the rewards offered by the Citi Forward card are excellent. Cardholders earn 5 ThankYou points each dollar spent on dining, books, and entertainment (including concerts, music, and movies.) In addition, cardholders also earn 1 ThankYou point for any dollar spent on any other purchases. Aside from the rewards offered by the Citi Forward card, the card also features no annual fee, an introductory APR of 0% for the first 7 months, and incentives that lower your purchase APR by a quarter of a percent when you stay within your credit limit every 3 months. Lastly, Citi will also reward you with a 1,200 bonus ThankYou points for each year that you successfully stay under your credit limit and pay off your balance.

2. Discover Student More Card – The Discover Student More credit card is another solid choice for college students looking for a credit card. With the Discover Student More card, cardholders receive 5% cash back for purchases in categories that rotate throughout the year such as gas, grocery store purchases, department stores, travel, and more. The Discover Student More card also offers a 0% introductory APR on purchases for 9 months, no annual fee, and a choice of card designs. In addition, cardholders receive 1% cash back on all purchases that do not fall into one of the rotating categories. If you’re a college student looking for a cash back card, there’s no better choice than the Discover Student More card.

3. Journey Student Rewards Card – For students with limited credit history that are in the market for a credit card, the Journey Student Rewards card is a great choice because it’s geared towards helping students build their credit. The card offers an online interface to track your credit score by month, as well as a tool that recommends how you should use your card in order to optimally improve your credit score. In terms of rewards, the Journey Student Rewards card offers 1% cash back on all purchases, no annual fee, and an extra 25% cash back on the cash back you’ve already earned when you pay off your balance at the end of each
month.

As a college student with limited or no credit history, many credit card companies will not approve you for their regular credit cards. If you read over the aforementioned credit card offers, however, you will quickly realize that these student credit cards offer comparable rewards when compared with regular non-student cards. Just make sure you stay under your credit limit, and pay off your balance each month once your introductory APR period is over, and you will be well on your way to establishing good credit.

This post was written by Logan Abbott. Logan is the editor of MyRatePlan.com

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