Is it a coincidence that my oldest daughter will return from her session in South Africa this week plus a fresh batch of credit-card offers addressed to her has just arrived in my mail box? I think not!
The card companies just don't quit. Actually, they're on something of a bender. Charge card solicitations are way up, as are enticements to sign in the dotted line. Now is a particularly great time for card businesses to reach university students who might be thinking forward to the fast approaching college year and at home getting cash from a summer work.
Ordinarily, I summarily chuck any credit-card offers to my young-adult kids, adolescent and, gulp. Both have a bank account using a linked debit card, that is the safest and cheapest way while enjoying the ease of plastic I've discovered for them to have access to their own money.
But my oldest entering her senior year and you will be is almost 22. It is time for her to begin creating a credit account (more on this in my subsequent post), along with the right credit card may be the greatest approach to take about this. So for the very first time in four years I am really holding onto to 1 of the offerings, which I'll tell her and discuss the moment she gets home.
How come presently time for her to begin taking a charge card? She is managed her finances well, maybe not ideal, but well enough the past couple of years and is cozy shopping in shops and on-line with her bank card, restricting and monitoring her spending and reducing ATM fees. Living off-campus she has also become comfortable with regular bills like electrical and cable. So she is prepared to manage a card that creates a statement every month.
Which card can I propose she apply for? For a few intelligent choices I spoke with Mike Stevens, owner of Credit Flare, a credit & finance resource site. He proposed three:
Among a number of other appealing features, this card does not have any annual fee, a 0% opening rate on purchases for 7 months, 5% cash back on purchases for the very first 6 months, 2% cash back when investing in particular classes, and fraud and security protections.
This card features no annual fee, a 0% opening rate on purchases for the first six months, 5% cash back in particular classes, boundless 1% cash back on all purchases after spending $3,000 for the year, and 5% to 20% cash back while shopping online at the merchants at ShopDiscover.
Among this card's appealing characteristics aren't any annual fee, 1% cash back on all purchases, 25% reward to the cash back you make every month, and the capacity to redeem your cash rewards in the appearance of the check, statement credit or gift card and also to really get your own cash rewards anytime