If you are or used to be a student, you may be familiar with credit cards, which is a valuable way to be in control of your finance status. With a credit card, it will be easier for students to set up their own credit. More precisely, they will find it more convenient to buy and make payment their purchases on time and there are also other functions such as sending alerts when they miss to pay something.
In terms of credit card benefits, it can be listed as financial education, online resources such as applications; assistance in building good habits for students as they will receive reminders for their credit card problems and so on. Even they can receive money back to their account as well as other rewards which may be attractive and useful.
Another thing to take into consideration is that lenders would grant lower limits as well as interest rates to users so that they are able to set up their own credit history.
According to the marketing director of Discover, it is really necessary for students to build their credits while attending colleges when it comes to making a good credit foundation. He also reminded that some cards also come with more wonderful benefits such as rewards for purchases or having dinner and so on.
1. The benefits that students can receive from credit cards
First of all, it is the Rewards. Thanks to such cards as Discover it Chrome for Students, students can receive a lot of different rewards such as receiving cash back on their purchases and rewards due to getting good grades.
Secondly, security and protection may be some of the most valuable benefits. Card members will not have to authorize purchases on their card by themselves as credit card companies may provide them with a lot of interesting features.
In terms of supportive tools, users can get to know their credit cards through various tools such as Spend Analyzer and Automatic Bill Payment, which are so helpful in terms of budgeting and paying automatically.
The most priority that you may want to know clearly may be security of credit cards and customer service as well.
When you make use of credit cards, you may receive alerts to inform you about whether your social security number may be on any dangerous or black websites. You are also able to get free alerts for such actions as new credit card, loans as well as others that may turn up on your credit report.
In case students can not find their card available, they can move to turn on other security features through their mobile applications or websites in order to avoid any fake purchases. In other words, those purchases will not be accepted to carry out. When they find their cards already, they can remove that function.
3. Customer services
For instance, customer service through phones from Discover is offered by all representatives in the United States. They can also get customer service whenever they want via websites and mobile applications. With the credit card category, the mobile application from Discover is also regarded as the most satisfactory one according to a satisfaction studies in the United States.
With a lot of decisions that you may make when you were still a student, you had better be clear about options offered. It is a must for students to make sure they know all about the rewards and advantages so that they can go for the most suitable card. Here are some offerings from Discover:
a. New card members will receive Good Grade Reward if they are attending colleges or they have their accounts opened when this offering is required. Students with GPA at least 3.0 are offered to register a 20 dollar credit. This will be confirmed to their account in only 7 business days. Each account is provided with one Good Grade reward every school year and up to five years since the date that the account is activated.
b. 2 percent of Cash back for students
First and foremost, purchases at gas stations and restaurants are made at the stores such as gas stations as well as full coffee shops, food stores, cafeterias and other places. Other purchases in other categories which are not in this list will not be qualified. Those categories are clubs, discount stores and so on. Also, other purchases such as third – party payment accounts, wireless card readers, online wallets and some similar technologies are not eligible.
c. What is more, Discover Bank also provides students with the option called Discover Identity Alerts without charge and this option is available online. This offering includes such services as control of your credit report every day and an alert as soon as a new account is turned up on your report. Moreover, your account will receive notifications as there is a leak of your individual details due to its ability to control a lot of dangerous websites such as your security number is found on the website. The option is aimed at primary credit card members whose accounts are open with good standing and they have already had an email address on Discovery file. Also, they need to confirm online that they will receive alerts in terms of identity issues. You should clarify the differences between Experian information and data and data at other credit providers. Your credit score is also not affected by your credit report. Discover Bank, actually, is not a credit repair company.
d. Last but not least, when you close your account temporarily for any reason, Discover will not authorize any purchases, cash issues or money transfers. Nevertheless, some other activities will keep on running such as bills that stores mark as returns, credits, payments or recurring.
To sum up, all of students need to be prepare and guarantee that they have already had a clear knowledge for these above issues in order to make the process smooth.