Look for These Features in a Student Credit Card

As a college student or parent of a college student, you’re faced with many important financial decisions.

At some point, you may begin to ponder the pros and cons of a student credit card.

While there are definite concerns about this opportunity, including getting in over your head, there are a variety of benefits as well.

The primary benefit is the ability to receive a financial education on how to use a credit card to improve your life. As long as you avoid the major mistakes along the way, this education will be well worth it in the long run.

Since no two student credit cards are identical, it’s imperative to learn more about the features that make the most sense for someone in your position.

Here are several features you can’t afford to overlook:

•    No annual fee. Do you really have the money to pay an annual fee for access to your credit card? As a student, you probably have other things to spend your money on. Fortunately, there are plenty of cards without an annual fee.
•    Reward program. If you’re going to use a student credit card, you might as well get the most out of every dollar you spend.
•    Protection. Are you concerned about safety and security? You need a card with a $0 fraud liability guarantee. This way, if something bad does happen, you aren’t on the hook for any unauthorized purchases.
•    Tools. Do you have access to a complimentary credit score once a year? How about automatic bill payment? What about online account access? Oftentimes it’s these extra tools that give you the best financial education.

As a student, you may not know much about applying for and using a credit card. Even so, everyone has to start somewhere. Finding a card with these features will improve the likelihood of getting exactly what you want from this experience.

Would you add any other features to this list? Share your thoughts in the comment section below.