The Purdue Federal Credit Union realizes that young people need to be given a chance to build credit safely and responsibly. This student credit card has a much lower credit limit than the other credit cards Purdue FCU offers, as a way to prevent young adults from getting in over their heads with debt too quickly. This credit union also knows that, just because these students are young and have a limited credit history–if they have one at all–they should be able to have access to a great rewards program just like a more established adult.
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A student with the Purdue FCU Student Rewards credit card will earn one reward point for every dollar they spend. Those points can then be swapped for things like frequent flier miles they could use to plan a great Spring Break trip or electronics like computers to help with their class work.
No matter how they choose to use their rewards points, they should always remember the most important thing is to keep their balance low and avoid getting into debt.
The government sponsored My Money website has specific advice for young people that want to know how to control their finances.
Purdue Federal Credit Union Student Rewards Credit Card Rates
Unlike the other cards offered by this credit union, the Student Rewards card does not offer an interest rate range based on the cardholder’s creditworthiness. Since a person young enough to be eligible for this card will have a lower credit score, they will automatically be assigned a 17.5% fixed interest rate for purchases, cash advances, and balance transfers. While this is the higher end of the interest scale for the other Purdue credit cards, it is much less than the average student credit card with rewards.
Purdue Federal Credit Union Student Rewards Credit Card Fees
Students with this card will also have fewer fees to worry about than they would with another credit card. The main fees the student should worry about are the penalty fees for having a returned or late payment. Both of these fees cost $25 an occurrence.
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