Best College Student Credit Cards of 2020
Credit card is the payment cards which are issued by the bank to its account holders, these are a postpaid balance card issued to the customers by the means of which cardholders can borrow money from the bank in advance, for which they need to pay according to their spending on the next month and the bank also charges an interest on the debt. Find Credit Cards for students - easy approval from Mastercard, VisaCard etc. Compare credit cards from our partners, view offers and apply online for the card that is the best fit for you.
More about Credit cards
A credit card is a plastic card that is similar looking to an ATM debit card and it has a bank credit card number printed or embossed on it, furthermore, they may have the name of cardholder and date of expiration on the front of it. Credit has a magnetic strip at the back for the purpose of swiping in ATM’s and other payment kiosks, nowadays credit card also comes with a computerized chip for hassle-free payment without swiping and other security purposes.
Benefits of using Credit cards
Credit cards not only allow cardholders to make payments in advance but also have other numbers of advantages like cashback, reward points and multiple other benefits which are explained below:
Cardholders are provided extra sign-up bonuses when their credit card is newly issued, these are small bonus amounts given to the cardholders as a welcome reward which they can spend, these amounts vary on different types of credit card provided by different banks, these amounts are provided only on credit cards and whereas there are no such bonus rewards awarded to the customers on any kind of standard ATM debit cards.
Multiple credit cards have a reward point system where cardholders are awarded reward points after spending a certain amount like a cardholder might get a point awarded each time he spends an amount of 100 Rupees. These points are often doubled if a cardholder makes payments on certain merchants, banks also run promotional periods when spending in a certain category will result in double points for the cardholders. These points can then be cashed out and the cardholders can spend them as well.
Certain credit cards also reward cardholders with cashback if they spend money on certain categories, cashback is when some percentage of the amount which the cardholders spend in refunded back as a reward for the user. Credit cards are very beneficial in online shopping. Online shopping websites run offers where they offer large cashback and discounts on the credit cards of certain banks. These offers vary on different websites and these website run offers for credit cards of different banks for different time periods.
Credit cards allow the users to buy products on EMI’s. Cardholders can buy products without paying a full price for their purchase the amount is divided into multiple monthly instalment which is automatically added in credit card expenditure if they have credit card, user can avail such an option on online shopping sites or even offline. Using a credit card for spending is a very secure way of payment it makes payment easy hassle-free and reduces chances for fraud and theft. Credit cards are very efficient means of payment and one can simply opt for them by reaching out to their bank.