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The Verdict: Overall, the College Rewards Visa is a good option for college students that don’t have a lot of credit history yet. The card has a reasonable rate for an individual with limited history and provides rewards with no annual fee. Although there are high transaction fees for balance transfers and cash advances, this card can help college students establish their credit history with responsible decisions and on-time payments. Overview: Located in Colorado, the Ent Credit Union offers members in the Denver area four credit card options among their financial services. The Ent College Rewards Visa card is designed for college students with limited credit history who are ready to establish their credit while earning rewards. The card has no annual fee and comes with a 1,000 point bonus when the card is used for the first time. How These Cards Work: The College Rewards Visa is accepted virtually everywhere and is designed to be easy to use. One reward point is earned for every $1 spent and these points can be redeemed starting at 1,500 points. Reward points can be redeemed for merchandise, travel, gift cards and even cash through the Choose Your Own Rewards program. The maximum on points earned each year is 3,000. The due date is between 24 and 30 days after the closing of the billing cycle and cardholders can avoid interest charges by paying off their balance in full by the due date.
Travel & Shopping Benefits: This card from Ent comes with many standard travel benefits, including auto rental insurance and travel assistance in case of lost tickets. Free credit card checks are available, and purchases with the card qualify for extended warranties. The College Rewards Visa also earns 1 point for every dollar spent, allowing cardholders to choose their own rewards and earn cash back, travel miles or merchandise. Cardholders receive 1,000 bonus points when the card is used for the first time. Fees: The College Rewards Visa has no annual fee and the standard APR is between 11.99% and 17.99%, depending on credit worthiness. This APR applies to purchases, balance transfers and cash advances. The interest charge, when incurred, is $2.00 minimum. This card does have a high transaction fee of 4%, or $10 minimum, which applies to balance transfers, cash advances, overdraft protection and convenience check cash advances. Foreign transactions have a 2% fee if the transaction is in U.S. currency and 3% if the transaction is in foreign currency. Late fees, returned payment fees and over limit fees are all up to $35. Pros:
No annual fee
Designed for college students with limited credit history
Earns rewards points on every purchase
1,000 bonus points
Must be a member of the Ent Credit Union to apply
Very high transaction fee of 4% for transfers and cash advances
Fees up to $35 for late payments and going over the credit limit
Credit Shout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt.