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3 Things Any First Timers Credit Card Should Have

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Getting approved for a credit card for the first time can be an exhilarating experience that opens up doors for a wealth of future credit opportunities. Many banks send offers to students, so your possibilities of obtaining a card will be great. As someone who is new to the credit world, you will want to select the cards that offer you the greatest amount of benefits.

The following are three features that you should seek in a student credit card.

Interest-free Period

One of the best offers a bank can make is one that involves a free interest period. A 0% interest period will allow you to try the card without worrying over additional fees. The interest-free period can last anywhere from 90 days to 180 days, e.g. this card has 0% for 19 months on purchases and 0% on balance transfers for 12 months. Using a comparison site can help you to choose the student card that is best for you.

Cash Back

Student credit cards that offer cash back on purchases can be beneficial to you in many ways. The money that you can earn could help you pay for school supplies and necessities while you are gaining your education. Cash back cards give you a certain percentage of a return on you purchases. For example, you may earn 1.5% cash back on your fuel purchases. You can find a wide variety of cash back student cards on a directory or comparison site.

Bonus cash back tip: do your shopping via TopCashback or Quidco to earn additional cash back, on top of the cash back via your card.

No Annual Fee

A good student credit card should have a £0 annual fee. As a struggling student, you will want a credit card that does not cause you additional stress. An annual fee adds a small portion of worry to your monthly fees. A multitude of banks offer cards with no annual fees. You should take your time to search for one.

Fraud Prevention

Since you are new to the world of credit, you will want to protect yourself as much as possible. Before you apply for any credit card, carefully review your finances and make sure that you can actually qualify for the card. You must remember that a poor payment history can negate your credit profile for years to come. Additionally, you must remember to keep your spending at a minimum. Your spending practices can affect you in the future. A good practice is to avoid spending more than 50% of your available balance at any given time.


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1 Comment

  1. December 9, 2014 / 9:08 pm

    Some great tips becky. I have never had one, but will keep this in mind just in case 😉

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