The Capital One student credit card from American Express is an interesting card offer. It has some good perks and bad perks for the student body coming into college for the first time. If you are going to be in college for a little bit longer than most, you may find that this card can help you out a lot.
The Capital One credit card for students offers you a credit limit of eight hundred dollars with no annual fee and a one time application fee of only fifteen dollars. This seems like a pretty good deal on top of the fact that it allows you to build your credit score. Also, if you have no credit at all, you will still be able to get a card even without a co-signer.
On the other hand, this card is not ideal for students who already have credit cards with decent limits and rewards. This is because this card is not as flexible as the others. You can only spend what you have in your bank account, which means you won't be able to get very high limits or any reward apart from cash back.
If you are a student who has just graduated from college, it may be a little bit harder for you to qualify for a Capital One credit card. However, if you can qualify, this card offers you a solid benefits package which includes an emergency prepaid debit card and three thousand miles for traveling. Additionally, you get free protection against fraud and theft, a dedicated customer service advisor, and twenty-four hour online banking. The advisor will help you manage your payments as well as manage your spending. Finally, if you find that you are constantly denied for a credit card, you can always cancel it and transfer your money to an ordinary one.
This card has one clear advantage over all the other student credit cards. Capital One has a zero percent introductory rate which means even if you don't use the card, it will still be less than you'd pay with any other card. Furthermore, since you won't pay any interest charges while you are enrolled in college, there isn't any money left on the card for expenses. This means you can use the money you save with the card to pay for tuition, books, and living expenses. Since it does not offer any cash back or rewards programs, you do have to be sure to use the card regularly if you want to earn any rewards or interest discounts.
Before applying for this credit card, make sure you read the terms and conditions carefully. Capital One Student Credit Card is good for college students only and not for anyone who doesn't have a stable income. Make sure you don't have any overdue debts that are taking up your credit card's interest payments. Also make sure you don't own too many credit cards so that you won't be declined.