US Bank College Visa Review | CreditShout

US Bank College Visa Review

By Dan Rafter / December 10, 2010
US Bank College Visa Review

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Verdict:

The U.S. Bank College Credit Card is designed for college students with no to little credit history.

By using this card wisely — by paying their bills each month and not running up huge amounts of credit card debt — college students can gradually build a strong credit history.

They can then apply for credit cards that come with more perks.

Overview:

This card, because it is a basic one for younger cardholders, doesn’t come with many perks.

However, it does give college students the chance to prove to lenders and other credit card issuers that they can responsibly handle credit.

How This Card Works:

The U.S. Bank College Credit Card can come with low interest rates, depending upon the credit rating of applicants. It also has no annual fee, making this a good card for often cash-strapped college students.

Travel and Shopping Benefits:

Again, this card is a basic credit card, so it comes with no rewards, miles or cash-back bonus programs. However, it does allow users to manage their account online.

Cardholders can also protect themselves with Visa Zero Liability, which protects cardholders against fraudulent purchases.

Fees:

Cardholders will qualify for a purchase interest rate of 11.99 percent to 20.99 percent, depending on their credit scores.

There is no annual fee with this card.

Other fees are within industry standards. Cash-advance fees are either $10 or 4 percent of the advance amount, whichever is larger.

The fees for returned payments, late payments and for going over the limit can run up to $35.

Pros

  • No annual fee.
  • With good credit score, cardholders qualify for low purchase interest rate.
  • Chance to build credit.

Cons:

  • Few perks.
  • No rewards, cash-back or miles programs.
  • Late and returned payment fees run up to $35.
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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