The Freedom Credit Union Student Visa credit card with payWave technology is a great financial learning tool for college students. Because it is a student credit card, it does have some limitations on it that normal credit cards do not.
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Freedom Credit Union Student Visa Basics
Freedom Credit Union, or FCU, offers its members several different types of reward credit cards in which to choose. However, the Student Visa is different, mainly because it does not require any credit history in order to be eligible.
According the College Board, establishing good credit while students are in college can make life much easier after graduation when they are trying to purchase a car or find a place to live. However, sometimes it’s hard to establish credit when you don’t have any to begin with. That’s where credit cards for college students like FCU’s Student Visa comes in.
Your student can have a credit limit up to $1,000 and an 11.9% interest rate. Be prepared to be a co-signer with your student, though, as FCU will require it unless the student has enough income to pay the credit card limit on his own.
Students will also love the payWave technology built into the card. This free service allows the student simply to wave the card over the scanning device and be out the door.
Like the other Visa cards offered by Freedom Credit Union, the Student Visa has no annual fee, balance transfer fee, or cash advance fee.
FCU Membership Required for Student Visa
Membership in Freedom Credit Union is required before you can apply for a Student Visa, or any of the cards offered by FCU.
Freedom Credit Union is a non-profit organization servicing the people of Bucks, Chester, Delaware, Montgomery, or Philadelphia counties in Pennsylvania. So if you live, work, go to school, volunteer, or worship in these areas around Philadelphia, you can apply for membership. A deposit of $5 is required to set up your primary savings account. Once that is established, you can take advantage of any of the products FCU offers.
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