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While no one card is right for everyone, ratings can help you decide which ones you want to consider to begin with. According to the 2011 credit card satisfaction study completed by J.D. Power and Associates, the top 10 credit cards are:
- American Express
- Discover Card
- U.S. Bank
- Wells Fargo
- Bank of America
- Capital One
Most of the top credit card companies also charge lower interest rates and have numerous other options that can be extremely beneficial.
It is no real surprise with American Express leading the pack. This credit card company has spent years developing their customer service department to world-class level. American Express also surpasses other best rewards credit cards, terms and benefits. American Express cardholder’s enjoy super privileges.
Having Credit to Get a Credit Card
These days, it isn’t very difficult to obtain a credit card. In fact, you can look into few options. However, because you may not have a traditional credit history to on file with TransUnion, Experian, or Equifax, you may want to research secured credit cards for a while. Secured credit cards are an excellent option for people who are new to the world of credit cards because they help you build your credit history.
For example, the Capital One Secured MasterCard is available for people with very little or no credit. Using a secured credit card give you the ability to complete any task that a traditional credit card holder can complete. You can make purchases and even pay your bills too.
The only downside to secured credit cards can be the fees. Having new credit means that you are considered a risk. The financial institutions have no idea if you will be able to pay your debts. That means they must charge you certain rates until you have proven yourself dependable.
Secured credit cards generally charge an annual fee and have a higher APR than standard cards. This means it will take you longer to repay the balance. Make sure you keep your spending to a minimum to ensure complete and timely payments. This helps reduce your APR over time.
Companies that Offer Student Cards
There are approximately three credit card companies that cater to college students. In fact, Discover, Capital One, and Citibank all offer student credit cards, which have exciting benefits that include, cash back on purchases and rewards galore. They even guarantee no annual fees. One of the most popular student credit cards is the Journey Student Rewards card issued by Capital One.
This card was uniquely designed specifically with the college student in mind. It allows students to establish good credit by providing special resources that will teach students the dangers of credit cards and how to use and respect the credit card system.
Many students run into trouble financially because they are not able to manage their credit card debt. This card can prevent disaster before it strikes. Since almost every college student relies on some sort of technology, this card also has the ability to send updates and alerts to email and cell phones. If the credit card is lost or stolen, there is also coverage available.
Deciding Which Card to Pick
One of the best ways to decide on your credit card selection is to make a list of reasons why you want or need one in the first place. Credit cards are a luxury item that many take for granted. If you are not honest with yourself, you may choose a credit card that will not be beneficial for you. Here are some questions to ask yourself:
- Do you need a credit card for home repairs?
- If so, do you have the ability to repay the credit card balance in full?
- Is your credit card going to be used for occasional shopping sprees?
- Are you planning on using your credit card for emergency situations only?
These are only some of the questions you really need to ask before you begin your research.
Once you have an idea of what the credit card will be used for, you can start looking at interest rates, introductory offers and other options. Bear in mind that your credit score will ultimately dictate what you qualify for so don’t be surprised to see how many choices you have.
Credit cards are a great way to make purchases when you find yourself without cash. They should be used carefully and managed with care to avoid financial problems down the road.
Use the credit card finder above to locate details on online credit cards.
- American Express Blue for Students
- Loyola University New Orleans Credit Card
- Capital One JourneySM Student Rewards Credit Card
- American Savings Bank Student Secured Visa Review
- What are good options for starter credit cards?
- Capital One Secured MasterCard Credit Card
- American Express Centurion Bank American Express PRAmex Credit Card