Are you looking for the best student credit cards? This article will compare Bank of America's Discover it(r) Student Cash Back, Capital One's Journey Student Rewards, and Sallie Mae's Accelerate. Discover's match of 100% cashback will also be discussed. A student credit card can be a smart investment, regardless of your financial situation. You can save money, pay off the balance and travel with the money.
Bank of America's Discover It(r) Student Cashback
The Discover it(r), student cash back credit card offers a competitive reward rate and cash back. The card offers an introductory cashback match of up to 5 percent on purchases, and a variety of bonus categories. Each quarter, bonus categories change and you have to sign up in order for rewards. Reward points cannot be earned retroactively. A first-time cardholder can get a cash back match.
Discover it student cash back card offers higher cashback on purchases in bonus category. These categories change each quarter. Students who meet the requirements of each category earn a $20 statement credit. These categories are subjected to a $1.500 quarterly cap. It is best to limit your spending. A $200 bonus per year would be an excellent value if your card is to be kept for more than one calendar year.
Sallie Mae Accelerate
Sallie Mae student credit cards will help students pay off student loan debts. The card offers unlimited cashback of 1.25% on all purchases, and there is no limit on how much cash back you can get. It also offers a 25% bonus on cash back rewards for the first six months of use. The card's best feature is its student-friendly design that allows you to make timely payments.
Sallie Mae Accelerate student cards offer a range of useful tools to help you manage your account. Your account can be accessed from your smartphone. It makes it easy to pay bills, view your statements, set alerts, and much more. You can also pause your card right from the app. This credit card has many other perks that make it the ideal student credit.
Capital One's Student Rewards
The Benefits of Capital One's Journey Student Rewards Credit Card: If you're in college and are going abroad for the summer, you'll love this card! No foreign transaction fees! You won't have to worry again about 3% foreign transaction fee! Students who travel abroad or participate in exchange programs will appreciate this huge benefit. You can travel to Britain and spend money there without worrying about fees.
Negatives: The Capital One Student Rewards Annual Percentage Rate is high. It's also not the best card to balance transfer. If you intend to use the credit card only for purchases you will find the rewards not worth the high annual percent rate. It's worth the reward program and security that it offers, though, if it's your plan to use it as a travel credit card. However, there are also cards with lower annual percent rates. Before making a decision, you should carefully consider all options.
Discover our 100% cashback match
For the first year, Discover's 100% cashback match for student purchases is unlimited. You can use the bonus to redeem $20 in statement credits for each subsequent five years. You can also earn $20 in statement credits each year if you have good grades. Additionally, you will receive 5% cash back in rotating category and 1% cashback for all purchases. That's quite a good deal, and you'll soon start seeing some serious cash back in your account.
Cashback Match is the best feature of this card. You will receive a match for any cash earned during the first year. The cashback match period lasts for one year. You'll need to only make your first purchases during that time. After that, you can't expect a cashback reward for purchases made after the match period has expired. This is fantastic news for students living on a strict budget. But don't let this lure you into signing up for a card. It's worth trying the card before you make a purchase. You might need to buy furniture, appliances, lighting and other expensive items within your first year of life.