There are plenty of credit cards for college students to choose from. If you are a parent and your son or daughter is off to college, there are several tips that you can follow in order to find the best student credit cards in 2016 for him or her. Just make sure you explain all the necessary things to him/her in order to prevent possible misunderstandings.
1.Lookfor credit cards that offer reasonably low limits.
The first thing is to look for the most appropriate card – the best kind of student credit card that you can give to your child in 2016 is one that has low limits. Giving him or her a card with a high limit is a huge mistake—your son or daughter could max out on the card easily. Explain to him how he should properly use the credit card. Set a rule that it should only be used for important things such as school supplies, groceries, or emergencies. Explain why they should not buy games for Playstation or PC, so they understand the essence of the card.
2. Look for Credit Cards That Have Low Interest Rates
Another tip for finding the best student credit cards for 2013 is to look for those that have low interest. Most cards designed for student use offer zero percent APR for the first 6 months. This is a great promotion, so make sure that you inform your teenager to purchase all of the important things that he or she needs for school during this period.
3. Look for Credit Cards That Offer a Rewards Program
Almost all credit card companies offer some sort of rewards program. Since these programs vary, the key is to look for one that your son or your daughter will be able to benefit from such as point based programs that can later be turned into gift checks or certificates. The greater and the more useful the rewards will be, the better for him or her.
4. Look for Credit Cards That Offer an Online Option for Account Management
Another useful tip for finding the best student credit card for 2016 is to look for providers that offer an online option for account management. This is ideal for students who do not have the time to visit the bank just to keep abreast of their transactions. Online banking will also be a lot more convenient, especially if your son or daughter has a very busy schedule at school.
5. Look for Credit Cards That Have a Policy for Lost or Stolen Cards
Last, but not the least, look for those that implement a policy for lost or stolen cards. This policy is very important and useful, as it will protect your college son or daughter in the event that he or she will lose his or her wallet. Make sure that you go through the entire policy of the credit card company in order to determine whether or not the provider is implementing this kind of policy.