College Student Cards

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A lot of people are critical of them, but the truth of the matter is that student credit cards are one of the best ways for young adults to establish their credit. Building a solid credit history will make it easier to borrow money down the road… whether it be for a car, a home, or graduate school. Plus, good credit often makes it possible to borrow at lower interest rates.

The top 3 myths about credit cards for college students:
  • Myth #1: Student cards are out to get you. As with any type of credit, if used recklessly it will lead to problems. But the bottom line is that if you pay your balance in full each month, there won’t be any interest to pay.
  • Myth #2: You need to carry a balance to build up your credit. What’s reported to the credit bureaus is your card’s balance at the end of a billing cycle (when the bill is issued). That means you do not need to carry a balance to build up your credit history. The amount due on the bill will still be reported whether you pay it in full or not. So pay your balance in full and avoid interest altogether.
  • Myth #3: They don’t offer rewards or worthwhile benefits. It's true that most do not, but the best credit cards for college students will give great rewards as well as other valuable benefits.
2011 Best Student Cards (sponsored)
Discover Student Card
  • What's so unique about this is that it's the student version of the popular Discover More card. It gives you the same popular rewards but unlike the original, students with little to no credit may qualify.
  • You get 5% in categories which change throughout the year. Examples include gas stations, grocery stores, clothing stores, restaurants, fast food and more. On all other spending you earn 0.25% to 1.00%.
  • Best of all you earn 5% to 20% cash back at the top online stores through ShopDiscover. There are almost 200 online retailers participating such as Urban Outfitters, Walmart, iTunes, Apple Store, Target, Foot Locker, Groupon, American Eagle, Gap, Eastbay and tons of others.
  • Choose from dozens of designs, including the sweet vintage mix tape pictured above
  • No annual fee
Check out the Discover student card now

Citi Forward (Student Version)
  • No annual fee and no cosigner required
  • Very high rewards on food and entertainment: 5x points on restaurants, fast food, music stores, movies (both theaters and rental stores), and bookstores. 1x points on everything else.
  • Free cell phone insurance of up to $250 in coverage (definitely useful being that AT&T doesn’t offer coverage on iPhones!)
  • You can get rewarded with extra points for simply paying on-time, not going past your credit limit, and enrolling in paperless statements.
  • Other free benefits include retail purchase protection, extended warranty coverage, travel accident insurance, collision damage waiver for eligible car rentals, and decent interest rates for being a student credit card.
Learn more about the Citi Forward and its promotional offer

Citi mtvU Platinum Select
  • This is one of the most popular credit cards for college students because it’s associated with mtvU and can score you access to their exclusive events. Get VIP status at the mtvU Spring Break, free tickets to their college concerts and Woodie Awards, plus a 10% discount at the online MTV store.
  • Just like the other Citi card, you get the 5x points at restaurants, bookstores, movies and music stores, plus 1x on all other spending.
  • You get rewarded with up to 2,000 extra points twice per year for having a good GPA; 2.50 to 2.99 = 250 pts, 3.00 to 3.49 = 500 pts, 3.50 to 3.99 = 750 pts, 4.0 = 2,000 pts. You also get 25 extra points every month you pay on time and don’t cross your credit limit.
  • There’s no annual fee and you don’t need a cosigner
Find out more about the mtvU card from Citi

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