Harris Student MasterCard Credit Card | CreditShout

Harris Student MasterCard Credit Card

By Dan Rafter / February 2, 2011

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Verdict: With the Harris Student MasterCard, full- or part-time college students can build their credit histories. And they can do it with a card that comes with a reasonable purchase interest rate. Once college students build a strong credit history, they can then apply for credit cards that come with mroe perks, such as rewards program, cash-back bonuses and the ability to earn free airline miles.

Overview: Many college students, whether they are applying four-year or two-year universities, lack a long credit history. Many traditional credit cards — at least those with reasonable purchase interest rates and generous reward programs — require consumers to have the strong credit scores that many college students lack. The Student MasterCard credit card from Harris Bank provides college students with a credit option.

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How This Card Works: This is a basic credit card. Students won’t be able to earn rewards points or free airline miles by using this card. However, the Student MasterCard isn’t supposed to be one loaded with perks. Its main purpose is to allow college students with limited or no credit to build credit histories. By paying their bills on time, and by not running up large amounts of credit card debt, students will steadily improve their credit scores.

Travel and Shopping Benefits: This card doesn’t come with many perks. But students can manage their accounts online through a dedicated Web site. They also receive free protection from fraudulent purchases if their cards are lost or stolen. Students can also elect to receive their statements by e-mail, eliminating paper and clutter.

Fees: The purchase interest rate attached to this card stands at an industry reasonable 14.24 percent. There is no annual fee with this card. Cash advances cost either $10 or 3 percent of the advance amount, whichever figure is hgher. The card’s late-fee payment can reach as high as $35, while the returned-payment fee stands at $25.

Pros:

  • No annual fee.
  • Reasonable purchase interest rate.
  • Free fraudulent purchase protection.

Cons:

  • No rewards program.
  • Few perks.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

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