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Tag: college financial tips
First National Bank Secured Student Mastercard
First National Bank Secured Student Mastercard: A Comprehensive Overview
The First National Bank Secured Student Mastercard is specifically designed for students looking to build their credit while enjoying the benefits of a secured credit card. Issued by First National Bank, this card offers a range of features that cater to young adults embarking on their financial journey.
Card Type
This is a secured student credit card, which requires a cash collateral deposit that serves as your credit limit. It’s an ideal option for students who may not have an established credit history.
Annual Fee
The First National Bank Secured Student Mastercard comes with a moderate annual fee of $39. This relatively low cost is typical of secured cards, especially those tailored to students.
Rewards Program
This card provides an attractive rewards structure tailored for students. While primarily a secured card, it offers cashback rewards on every purchase. Cardholders can earn 1% cashback, giving them the opportunity to accumulate rewards on everyday spending. Cashback can be redeemed for statement credits, making it easy to utilize earned rewards.
Sign-Up Bonus
New cardholders can take advantage of a welcome bonus after meeting a certain spending requirement within the first three months of account opening. Typically, this may include earning a bonus $50 after spending $500. This promotional offer incentivizes students to use their card responsibly while accumulating rewards.
APR (Annual Percentage Rate)
The regular APR for the First National Bank Secured Student Mastercard is competitive at 24.99%. However, there may be an introductory offer of 0% APR on purchases for the first six months. This limited-time offer provides a cost-effective solution for students looking to finance their purchases without accruing interest.
Foreign Transaction Fees
Traveling abroad? The First National Bank Secured Student Mastercard does charge a foreign transaction fee of 3%. Cardholders should be aware of these charges when using the card for purchases outside the United States.
Balance Transfer Options
The card does not typically offer promotional balance transfer options. Students looking to consolidate debt on this secured card will need to check with customer service for any available offers.
Additional Fees
In addition to the annual fee, users should be aware of various additional fees. There is a late payment fee of up to $35 and a cash advance fee that ranges from 3% to 5%, depending on the amount. It’s crucial for cardholders to manage their payments effectively to avoid such charges.
Card Benefits and Perks
The First National Bank Secured Student Mastercard offers several benefits. Cardholders receive access to travel insurance, protection against unauthorized transactions, and benefits designed to assist students with their financial education. Additional perks may include discounts at partner retail stores and online shopping rewards.
Customer Protections and Insurance
One of the significant advantages of this card is its strong customer protections. Cardholders benefit from fraud liability protection, purchase protection on eligible items, and extended warranty coverage on purchases made with the card. Moreover, cardholders may also be eligible for rental car insurance when the card is used for the rental transaction.
Eligibility and Credit Score Requirements
The First National Bank Secured Student Mastercard is accessible to students with limited credit history. Approval may not require a high credit score; generally, a score of 580 or higher is recommended. As a secured card, the initial cash deposit can also help ease the pathway to approval.
Introductory Offers
New cardholders can take advantage of the introductory 0% APR on purchases for the first six months after opening the account. This offer allows students to make necessary purchases without incurring interest, making it a great financial strategy during college.
Special Features or Unique Selling Points
The most unique feature of the First National Bank Secured Student Mastercard is its commitment to helping students establish and build their credit history. Unlike many other credit cards, it sets a strong foundation for responsible credit management while rewarding cardholders with cashback benefits.
How to Apply
Applying for the First National Bank Secured Student Mastercard is straightforward and can be done online. Interested applicants can visit the ‘>official website or explore Financial Insights for more financial tips.
Chase Freedom Student
Chase Freedom Student Credit Card: Comprehensive Overview
The Chase Freedom Student credit card, issued by JPMorgan Chase, is an excellent choice designed specifically for students looking to build credit while earning rewards. This card is ideal for those new to credit and offers various benefits that cater to the student lifestyle.
Card Type
The Chase Freedom Student credit card falls within the category of cashback credit cards. It provides users with opportunities to earn cashback on their everyday purchases, making it more beneficial for students who wish to save money while managing their expenses.
Annual Fee
One of the standout features of the Chase Freedom Student credit card is that it comes with no annual fee. This makes it highly appealing for students who often have limited budgets and are looking to avoid any unnecessary costs associated with card ownership.
Rewards Program
The card offers a straightforward rewards program. Users earn 1% cashback on all purchases. Additionally, there are bonus categories which may change over time, allowing cardholders to earn 5% cashback on purchases in categories that rotate quarterly such as gas stations, grocery stores, and dining. Cashback rewards can be redeemed for statement credits or deposited into a bank account, offering flexible redemption options.
Sign-Up Bonus
New cardholders can take advantage of a generous welcome bonus. After spending $500 within the first three months of account opening, eligible users will earn a $50 bonus. This is a fantastic way for students to jumpstart their rewards journey.
APR (Annual Percentage Rate)
The Chase Freedom Student card has a regular APR of 16.49% to 25.24%, depending on creditworthiness. There is an introductory offer of 0% APR on purchases for the first 15 months, allowing students to make necessary purchases without accruing interest during that period.
Foreign Transaction Fees
This credit card offers a favorable benefit for those studying or traveling abroad, as it comes with no foreign transaction fees. This feature allows students to use their cards internationally without worrying about incurring extra costs on foreign purchases.
Balance Transfer Options
The Chase Freedom Student credit card does not currently offer specific balance transfer promotions, meaning cardholders should exercise caution when transferring balances, as standard APR rates will apply.
Additional Fees
Cardholders should be aware of potential fees that can accrue. Late payments may incur a late payment fee of up to $40, and the cash advance fee is either $10 or 5% of the amount of each transaction, whichever is greater.
Card Benefits and Perks
Besides earning cashback, the Chase Freedom Student credit card comes with additional perks. These include access to Chase’s Ultimate Rewards platform, where users can manage their rewards points, and potential discounts on services like rental cars and travel bookings.
Customer Protections and Insurance
Cardholders enjoy robust customer protections, including $0 liability fraud protection, which means users are not held accountable for unauthorized transactions. Furthermore, the card offers purchase protection for new purchases against theft or damage for a limited time, in addition to extended warranty protection for eligible items.
Eligibility and Credit Score Requirements
Applicants for the Chase Freedom Student card do not need an extensive credit history, making it more accessible for students. Generally, a credit score of fair to good (around 580+) is recommended for approval.
Introductory Offers
The introductory offer includes 0% APR on purchases for the first 15 months after account opening. This gives students a significant opportunity to manage expenses without interest playing a role in their financial plans.
Special Features or Unique Selling Points
One unique feature of the Chase Freedom Student card is its potential to help cardholders build their credit history, which is invaluable for students newly entering the credit system. Additionally, students learn valuable financial responsibility lessons while enjoying cashback incentives.
How to Apply
Students interested in applying for the Chase Freedom Student credit card can do so easily through ‘>Apply Here to explore the possibilities with this card. For more financial insights, visit UpCube.net.