There are great credit cards for everyone, no matter if you are looking to establish credit or are in the process of rebuilding your credit. Some cards can be used for those with poor credit, while others may be suitable for those with better credit. Some cards are secured, which means you have to make a refundable security deposit before being approved. There are also student credit card options.
Bank of America's Travel Rewards Credit Cards for Students
If you are a student looking to build credit, consider using the Bank of America Travel Rewards Credit Card for Students. It has no annual fee and offers unlimited 1.5 points per dollar on purchases. There are no blackouts and no restrictions on airlines or baggage fees. Additionally, you will be eligible for a $250 sign-up bonus of 25,000.
Students who apply for this credit card can also check their credit score online. You can learn the factors that impact your credit score. You can also track your score and compare it against national averages. This is particularly useful for those who are transitioning from college life to post-grad life. Your chances of getting approved to rent your first apartment or scoring the best credit cards will be higher if you have a better credit score.
Students need to be aware of foreign transaction charges. These fees can quickly add-up, especially if you're studying abroad. The $200 sign-up bonus is still available to students if they purchase $1,000 within the first 90 days. You have the option to choose how you want your rewards. You can select a different category to receive cash back once per month. You can earn 1.5 points for every dollar you spend on gas, groceries, dining and home improvements.
Discover it Secured credit card
Secured credit cards are a good way to improve credit. This card provides a great cash-back program as well as a generous bonus. After seven months, the card can be easily converted to an unsecured card. This will allow you to continue building your credit, while still being able to pay your bills in full.
For the Discover it Security card to be opened, you'll need to provide a $200 security deposit. This amount is about the average range for secured credit card cards. The balance transfer fee can be up to five per cent of the transfer amount. This applies after six month. This fee, however, is relatively low compared with the benefits this card offers.
The Discover it Secured card also comes with a generous welcome bonus. You will get up to $200 cash back from Discover it Secured in your first year. This is great as it will increase your credit score if every month you pay your bill on-time.
Petal 2 Visa Credit Card
Although the Petal 2 Visa Credit Card is not the best card to build credit, it is a great choice if you are looking for a card with zero fees and rewards for purchases. The card is free of annual fees and gives you 1.5% cashback on eligible purchases. This card is for people with poor credit to fair credit.
The Petal 2 Visa Credit Card will require you to have a credit check. This will be based upon your digital financial records as well as your banking history. An applicant with poor credit history will most likely be turned down. To avoid interest charges, you will need to pay the entire balance off before the due date.
Petal 2 Visa Credit Card is a great way to build long-term credit. It offers features such as budgeting and credit monitoring. This card is a great choice for first cards and people who are trying to build credit.