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Visa College Card The Visa college card provides the flexibility of having emergency cash when need arises. Students can use their Visa College card for anything from books and tuition to rent and car repairs. The Visa college card is an extra layer of protection in todays uncertain world.
In addition to having emergency funds available the Visa college card allows a student to begin to build a credit history which will be important in the years to come. The key though is to use the Visa college card in such a way that they have "good" credit as opposed to bad credit.
In order to begin building a good credit history with the Visa college card the student needs to make their payments on time, pay the balance off every month and not exceed the Visa college card limit. The Visa college card is a useful tool in building credit history. Using the Visa college card irresponsibly can result in bad credit that takes could take years to repair. Poor credit could affect a persons ability to obtain loans, jobs, insurance and rent housing.
Visa college cards are not all alike in regards to specific terms. You should pay close attention to interest rate terms. Some Visa college cards award points for paying on time and a good GPA. Visa college card points can be redeemed for things like cash, airline tickets, card concert tickets and much more.
Many Visa college card start with an introductory rate of 0% for the first 6 months on purchases or balances transferred. In some instances the 0% rate applies to cash advances. Read the terms of the Visa college card you are thinking about applying for to see what the rate is after the intro rate expires. Rates on the Visa college card can be quite high so paying off the card balance every month will be important to avoid paying finance charges on your purchases.
The Visa college card is issued by a dozen or more different lenders. Under legislation currently proposed by Obama administration it will be more much difficult for students to obtain a Visa college card. The main change proposed is to increase the required age to 21 to even apply for a Visa college card. Following are a few Visa College cards that you may want to look at.
The first Visa college card on the list is the Citi Forward Visa college card. This particular Visa college card gives reward of up to 2% purchase interest rate reduction on a purchase if the card user stays under the credit limit and pays the bill on time 3 consecutive months. In addition the Citi Forward Visa college card gives the student 6000 bonus points after $50 in purchases are made within the first three months. 5000 bonus points are awarded by Citi Forward visa college card when the student signs up for paperless statements within the first three months. Five points are awarded for every $1 spent on food, books, movies and music purchased with the Visa college card. One bonus point is awarded for every $1 spent on other purchases. The Citi Forward Visa college card has introductory rate of 0% for first six months on purchases and transfers to the Visa college card.
SECU Credit Union of Maryland Visa college card has no annual fee. A fixed rate of 13.4%. SECU Visa college card has a credit line of $300-$500. Automobile rental insurance worldwide if the rental is paid for with the Visa college card. Free travel accident Visa insurance up to $500k is also provided.
The Citi MTVU Platinum Select Visa college card gives a student "Thank You" points for getting good grades, making payments on time and staying under credit limit. Points are awarded for purchases of books, restaurants and more, when using Visa college card. The Citi mtvU Visa college card has no annual fee. It has a 0% interest rate on purchases and balance transfers to Visa college card for the first 6 months. The Citi Dividend Platinum Select Visa college card for college students is another card available. Students can earn 5% cash back for the first 6 on supermarket, drugstore, gasoline, convenience store and utility purchases. Students using the Visa college card receive 1% cash back on all other items purchased with this visa college card. The introductory card rate is 0% for first six months on purchases and balance transfers to the Visa college card. This particular visa college card has no annual fee.
The Pelican State CU student Visa College Card has no upfront fees and has a credit limit up to $5k. Students can earn reward points for every dollar spent on the Pelican State Visa college card.
The State Farm Student Visa college card has no annual fee and an APR of 11.99-18.24% for purchases with this Visa college card. The APR on cash advances is 20.24%. Transaction fees are 3% of cash advance with a minimum fee of $10. The State Farm Visa college card fees for balance transfers is 3% of the transaction amount with a $10 minimum and $150 maximum for transfers to Visa college card.
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