Students, this is most often the part of the population that has problems with finances. They have to spend money on everything, food, parties, accommodation and much more. Also, students often have problems with writing academic papers, and they pay a huge price to classmates for this. If you also encounter a similar problem, it is best to contact the writing service for College Students for help and do not overpay. However, the most annoying thing is that when making banking operations, the bank itself takes a considerable amount in the form of a commission. To avoid such unpleasant surprises, we have made you a selection of the best bank accounts for students with a description of their main advantages.
Choose the Amount of Debt
The main parameter for poor students living from one student loan to another is, of course, a generous interest-free overdraft that will help to stay afloat in the most hungry times. The size of the overdraft may depend not only on the chosen bank but also on the year of study: some banks offer freshmen a small overdraft, gradually increasing it every year or semester. The size of the overdraft will also depend on the personal circumstances of each student, so it is not always worth counting on the maximum amount.
Capital One
Capital One is a banking company that issues credit cards, provides loans for homes and cars, and accepts savings deposits. The bank has 512 branches, 2000 ATMs, its cafeterias and other infrastructure. In 2015, 61% of profits came from credit cards. The company is considered one of the largest issuers (the one that issues cards) in America.
Like any giant, Capital One is characterized by harsh service conditions. From time to time, the company is scolded for poor customer service, low credit limits that have not been growing for years, but nevertheless they offer a lot of cards for different purposes, and their credit cards are in great demand.
Capital One Venture Card
The card accumulates 2 points for every dollar spent. This is a good card for those who spend a lot of money and do not really need points but do not mind getting them as a bonus. 100 points are then transformed into 1 dollar, that is, the card just saves you 2% of the cost, like any cashback card.
Capital One Quicksilver One Cash Rewards Credit Card
1.5% cashback, in the initial 9 months a zero yearly rate, and afterward 23.24%. In the first 9 months, there is also no commission for transferring the balance. The yearly fee is 39 dollars. The limit is expanded following 5 months of auspicious payments. As a bonus, insurance against card fraud.
This is an attractive offer with average cashback, a regular bonus and no commissions for the first time. This card does not have any special privileges, but there are no risks. Along these lines, it is appropriate for day by day payments.
BankAmericard Cash Rewards Credit Card
Another common card. 1% cashback on each purchase, 2% at grocery stores and 3% on gasoline for the first $ 2,500 spent in stores and gas stations for each quarter of the year. The card does not have an annual fee, at the beginning a low-interest rate: starting from scratch. In the first 60 days, you do not have to pay for the transfer of money between accounts. Then the annual rate rises from 13.24% to 23.24%, and you pay 3% (minimum 10 dollars) for the transfer of funds.
There are bonuses: for the first 500 dollars spent for 3 months from the opening of the card, you will be returned 100 dollars.
Shop Cards
Some major stores offer their own credit cards, which can only be used within the store. For instance, Amazon.com.
Amazon Store Card and Amazon Prime Store Card are two credit cards. The first for all registered customers, the second for people with a premium account. The card allows you to pay for goods on credit without interest. Launches Synchrony Bank. The card gives 6 months of credit for purchases with a price of $ 149 or more. It can be a year of lending for purchases more expensive than $ 599 and two years of lending for selected goods.
The premium card has more bonuses, it has a cashback of 5%, is protected from fraud, but has a high-interest rate, about 25%.
Using store cards is convenient, in particular on Amazon, where you actually can pay only with a credit card, and with its cards, you divide the amount into parts and pay less at a time. But if you do not buy in a large store often, paying a percentage is very unprofitable.
In Few Words…
I want to give short advice for all cases. Firstly, you must understand that there is no ideal bank card and you just have to choose the one that is more beneficial for you than the rest. Choose those credit cards where you pay the bank less than you receive in the form of cashback, bonuses, and opportunities. This will be the smartest choice.