Friday, 16 March 2012

Guaranteed Student Credit Cards

List of High-Limit Guaranteed Credit Cards for Students:

Discover Student Card

This card has a 0 percent interest rate for any purchases made in the first nine months. There is also a free fraud liability guarantee, which means if your card has unauthorized or fraudulent charges, you're not held responsible. If the card is used for travel, department store purchases, gas, groceries or restaurants, you receive a 5 percent cashback bonus. Shop at the exclusive Discover Online Shopping mall and the bonus goes up to 20 percent. All other purchases will yield a 1 percent bonus. After the first nine months, the interest level varies from 12.99 percent to 19.99 percent. No balance transfers are allowed on this card.

Capital One Journey Student Rewards Card

Watch out for the big average APR of 19 percent from the beginning with this card. Though balance transfers are allowed, the high interest rate would eliminate most motivation to do so. The card has no annual fee, which means it's easier to keep the balance under control. This student rewards card keeps cardholders informed of their spending via free texts and e-mail alerts. The card offers auto rental insurance, which covers the damage or collision of the qualified vehicle you're renting as long as you use the card to pay for your auto rental in full. Note that this insurance does not cover expensive vehicles such as Ferrari or Porsche, or antique vehicles that are more than 20 years old. If you pay for your travel tickets in full with this Visa Platinum card, you will be covered automatically up to $100,000 in the event of death or dismemberment.

Citi Platinum Select Mastercard

The Platinum Select Card, though only for those with good credit, offers no interest for 12 months on purchases and no interest on balance transfers for 18 months. After that, there is a low interest rate of 9.99 percent. There's no annual fee and the online account management is free. Manufacturers' warranties are extended an additional year on most items purchased with the card. Citi has a discount program for everything from travel to merchandise that comes free of charge. The limit will be $500, unless you have exceptional credit.

Citi Forward Card for Students

This card is designed to reward customers who use their credit wisely with redeemable points. Things like paying on time, staying below the credit limit, and applying for paperless statements will all help accumulate more points that can be used for rewards. The program offers five times the points for spending on music, books, movies, and restaurants. During the first seven months, there is no interest on purchases, and no interest for the first 12 months on balance transfers. Though the starting APR is 12.99 to 19.99 percent, there is up to a 2 percent interest-rate reduction for paying on time.

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