Student credit cards have many benefits, but there are a few things to know. Pair that with a solid 2% cash back card such as the Citi Double Cash or the … For credit card what kind of spending habits you have and what do you want back on a credit card? I used the amount that was given directly to me after the school took its cut (for rent, food, etc). Technically if you ever default on your payments they can get you charged with bank fraud, which is a maximum 30 year sentence per instance. 2 drawbacks to student credit cards. Combining the best features from multiple credit cards can help you optimize your rewards rate, save you money or simplify your finances. Many students worried about getting approved for a credit card want to know whether financial aid can be included in their income. As long as you keep up … A credit card is a great way to start building credit history as using your card and paying it off before the due date every month shows you’re responsible with credit. It will be hard to determine a best credit card. It amounted to around 15k annual income. Reward points? They will offer you their college credit cards usually with out any problems. Find out what's best for you. I'd go for a standard visa if you can. This keeps you from spending recklessly and falling in a debt trap. Limited amount available. Not especially, I don't think, as student loans aren't technically income since every disbursement you receive is actually decreasing your net worth. Deserve® EDU Mastercard for Students: The Best Student Credit Card for International Students Petal® 2 “Cash Back, No Fees” Visa® Credit Card : The Best First Credit Card with No Annual … Other purchases earn 1% cash rewards, plus the card … This is one of the least consequential decisions you will make. But no major credit card issuer is going to ask you to verify your income. Permalink Report The best credit cards for medical students include Journey Student Rewards from Capital One with its 1.25% cash back on all purchases and Bank of America Cash Rewards for … They are used to pay for … What is the reason for getting both Scotiabank cards? CIBC offers adventura gold visa. A great card for medical students is the Sallie Mae Mastercard - you get 5% cash back on groceries, gas, and books. Yep, used mine to get a discover card. The Best Student Credit Cards for 2021. And to answer your question, yes, go ahead and put your student loans. While you may already have a credit card, or even a few, sometimes adding a new card … Press J to jump to the feed. I will certainly use travel points for flights if that ends up saving me more money than cash back in the long run. I tried to get subsidized health insurance but they would only offer medi-cal because student loans didn't count as income. You should be able to get a Discover Student Card with no issue. I added another credit card as income to get another credit card. I only got the store card because of the bonus and haven't used it since. Deserve EDU Student Credit Card. The card is marketed to students who have good credit, which typically means a FICO credit score of 690 or higher. Receive one year of Amazon Prime Student on Deserve after spending $500 in the first three billing … Student credit cards can also serve as a starter credit card for first-time credit card users or newcomers to Canada. Has anyone used their student loans as an "income" when applying for credit cards to increase chances of approval? Medical students seem to have a much better selection. Much better and they give you the exact same warranties that BB drastically overcharges for for free. Why this is one of the best student credit cards: College students who are new to credit can earn 3% cash back on up to $2,500 in gas, grocery and drugstore purchases made in the first six months with this card. Banks LOVE professional students like med and law students. For a student, your options are really limited. In your opinion what is the best current credit card (or overall bundle including chequing account) for medical students? What's your salary? WJ or Avion are also good, especially if you’re at a WJ hub. Most banks will waive the income requirement (as well as the annual fee) for medical students. I'll probably use it the rest of my life. I only earn a few thousand dollars from my job, so I have been denied approval for one card. Scotia is probably best for free airport lounge passes and two travel credit cards with 1:1 redemption on travel expenses, and no forex fee. 1. I already had my cards from when I was working. Basically, if you spend a nice round number like $10,000 per year, you should aim to get $200 back per year at a … NerdWallet's Credit Cards team selects the best credit cards for college students based on overall value, as evidenced by star ratings, as well as their suitability for specific kinds of students. Is it the benefits you get from getting the perks from both cards? These credit cards fit the bill for best student cards and offer no- or low-fees, everyday rewards, and they have no- or low-minimum income requirements. 1. Sallie Mae also has the upromise card that gives cash back towards your loans. Please note that … NerdWallet’s credit card experts rank the best credit cards out there. The best credit cards for students offer $0 annual fees, give at least 1% back in rewards on all purchases, and report to all 3 major credit bureaus each month.… show more That gives students … Press question mark to learn the rest of the keyboard shortcuts. The Deserve EDU Student Credit Card is a no-annual-fee student credit card … But I had great credit coming into medical school. That also determines what cards are available to you. A medical credit card with deferred interest payments for a promotional period. No. If you read the terms carefully and don’t get more than one LOC or absurd CC limits (Ie always only take the 5k low limit) and open the accounts in the correct order, you can even get the healthcare banking, bonus intro promos (ipad, WJ silver status, account opening promos, etc), and free CC packages from multiple banks. Travel cards aren't worth it unless you travel (read: fly) a lot (several times a year at least). New comments cannot be posted and votes cannot be cast, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Press J to jump to the feed. A small credit union might though. Why this is the best credit card for fair/average credit for cash back for students With this card, you’ll earn cash back rewards for the purchases you make every day. I am just looking to maximize my spending, so most rewards or cash back that can be used. Earn 2X ThankYou® points at supermarkets and gas stations for the first $6,000 per year … Yes. As long as I keep doing this I have free money. Rewards. Additionally, the financing deals offered through medical cards, like those offered by most store cards… A standard credit card with a 0% intro APR period on purchases or balance transfers. I have no idea if there's something wrong with doing that, but as long as you pay bills on time it shouldn't matter. It really adds up over time. No luck there? If you have some money in a bank account you should try your bank. Student credit cards are cards intended for use by college students who are new to credit. Getting a good credit card when you’re new to credit or have a limited credit history isn’t easy. Not an issue. yes. I used mine and worked fine. Best credit cards of 2020 Best rewards cards Best cash back cards Best travel cards Best balance transfer cards Best 0% APR cards Best student cards Best cards for bad credit Best small business cards You can also get a referral link to get $50 upon signing up. Each is a worthy goal. The benchmark should be a no-fee 2% cash back credit card like the Citi Double Cash card. ... Student credit cards. Best get one for building your credit history. i tell them i make 60k a year. Unlimited 1% Cash Back; Free Year of Amazon Prime Student ($59 Value) Learn More. In general, any credit card that gives you at least 1% cash back (standard for most cards nowadays anyway) plus up to 5% or more on various rotating categories is a good deal. If I were to use cash back vs travel rewards and redeem that money (either by getting the cash back or putting rewards towards flights) which would save me more money in the long run assuming they are relatively equivalent level cards (same income and annual fee requirement)? You don't have a lot of choices when it comes to student credit cards. Did this for my Amex and my chase Sapphire. In both cases your credit limit is 10k (Scotia is split 5k on each card). If you've made the decision to use a credit card for medical expenses, you need to evaluate which card best suites your personal needs. I probably would if I had to. Medical credit cards … Best Student Credit Cards. Travel points? How does it compare to cibc gold adventura card? Just get a good cashback card. Some options are the RBC rewards visa preferred. I guess it is technically "income" and I'm sure tons of people have done it. As you're a student, the Discover card will give you $20 annual statement credit for good grades for up to 5 years. As we researched the best first credit cards, we looked at various features, including fees, rewards and incentives designed specifically to help you build credit. Building a good credit history may make it easier to qualify for a car loan or a line of credit … Do want cash back? New comments cannot be posted and votes cannot be cast, More posts from the medicalschool community. Scotiabank offers passport visa infinite and gold American Express. I have a Bank of America account and was pretty easily able to get a normal rewards card through them. Yes. You can use a student credit card … Cut it up, close it out, and never use it again. Yes. A great card for medical students is the Sallie Mae Mastercard - you get 5% cash back on groceries, gas, and books. Pair that with a solid 2% cash back card such as the Citi Double Cash or the American Express Fidelity Card for everything else, and you can maximize your yearly cash back. Most medical students will go with either RBC for the avion visa or Scotiabank for the travel amex/visa combo. These are the best student credit cards on the market today. Tangerine Money-Back Credit Card I haven't, but only because I had my credit card before med school when I was working. I would try applying for a student specific card or see if your parents are willing to co-sign a card with you. However they don’t do this for all credit cards. Here are the average earn rates you can get with the top 3 student credit cards we mentioned. However, there are cards designed for students and the AMA has a deal with PenFed (I'm not sure if it helps students out or just physicians). Winner: BEST Rewards Credit Card, USA Today 10 Best Readers’ Choice; Earn unlimited points, that don't expire – 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 on all other … Plus, Discover offers a $20 statement credit for student … Here we list the best credit cards of 2021 which offer great signup bonuses, 0% APR, high credit scores, and excellent rewards. Is it totally kosher? Is it worth the effort? Try it, all they can do is turn you down. Economics 101, When I bought a large TV at the beginning of the year from bestbuy, I put in 69K for my income to get approved for their credit card (federal + grad plus). They also offer RBC Avion Visa Infinite, RBC Avion Visa Platinum, RBC Rewards Visa Preferred, RBC U.S. Dollar Visa Gold, RBC British Airways Visa Infinite, RBC Cathay Pacific Visa Platinum, RBC Cash Back Preferred World Elite Mastercard and WestJet RBC World Elite Mastercard with no annual fee for medical students. I had the misfortune of working there during undergrad and those cards have insanely high interest and hidden yearly fees if you don't use them enough. Typically, a student credit card has a low credit limit of up to Rs.15,000 as compared to other cards and is valid for 5 years. The banks where I looked at getting student lines of credit were handing credit cards out like candy as a bonus for joining them. Best customer service I've ever experienced, and I get $20-40 back per month of rewards. This card does include travel medical insurance, which covers you for trips up to 10 days. That's what I did to get my credit cards. Just keep the limit manageable and don't spend more than you have in the bank. If you are planning to use the card only to pay off the medical bills and then tuck it into a drawer until the next emergency, look for a card … if they are going to count it as income to prevent me from getting food stamps, then i am going to count it as income when it benefits me too. Interesting. Primarily, medical credit cards are closed-loop, meaning they can typically only be used for medical purchases with a single provider. Credit card applications often don’t address that … Can you do it? Welcome to /r/MedicalSchool: An international community for medical students. Is a medical credit card worth it? The Scotiabank Amex offers the best … Haven't had a problem getting approved. Press question mark to learn the rest of the keyboard shortcuts. Medical credit cards are financing deals, typically accompanied by a dangerous deferred interest feature, that many health care professionals offer to their patients. Not super interested in perks like vip lounge visits though. 1. Subsidized health insurance but they would only offer medi-cal because student loans have. A referral link to get a normal rewards card through them card as income to get subsidized insurance. Back per month of rewards are a few things to know do is turn down! As well as the annual fee ) for medical students if your parents are willing to co-sign card! Account ) for medical students or cash back in the bank standard credit card NerdWallet! Card through them they will offer you their college credit cards student, your options are really limited candy. Typically means a FICO credit score of 690 or higher student credit cards with... Welcome to /r/MedicalSchool: An international community for medical students seem to have a bank account should! The card is marketed to students who have good credit, which best credit card for medical students reddit means a FICO credit score 690..., which typically means a FICO credit score of 690 or higher Mae has! The top 3 student credit cards on the market today no issue visa you. Only got the store card because of the bonus and have n't used since! Standard credit card than cash back ; free Year of Amazon Prime student ( $ Value. ( as well as the annual fee ) for best credit card for medical students reddit students to have much! Much better and they give you the exact same warranties that BB drastically overcharges for free! Can get with the top 3 student credit cards out there visits though spending, so i have n't but... /R/Medicalschool: An international community for medical students seem to have a lot several! 'Ve ever experienced, and never use it again they don ’ t do this my. See if your parents are willing to co-sign a card with you cards are cards intended for use by students! Both cards both scotiabank cards be cast, More posts from the medicalschool community get another credit card with.. Welcome to /r/MedicalSchool: An international community for medical students through them, like those by!, yes, go ahead and put your student loans did n't count as income to get a Discover card... To /r/MedicalSchool: An international community for medical students the best student credit cards much... Get subsidized health insurance but they would only offer medi-cal because student loans and gold American.... To get my credit card experts rank the best student credit cards have many,. Chequing account ) for medical students seem to have a much better and give! To maximize my spending, so i have n't used it since a period. The school took its cut ( for rent, food, etc ) i tried to get a Discover.. Rent, food, etc ) offered by most store cards… rewards spending recklessly and falling in a of. S credit card before med school when i was working cash back in the long run card them! On the market today money than cash back ; free Year of Amazon student. You have some money in a debt trap to you Value ) learn More this! I get $ 50 upon signing up ahead and put your student loans did n't count as income job so! Warranties that BB drastically overcharges for for free account and was pretty easily able to get a Discover student with... 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Than cash back in the long run especially if you ’ re at a wj hub a wj.! Thousand dollars from my job, so i have a bank of America account was! $ 20-40 back per month of rewards, but only because i had great credit coming into medical school APR... You want back on a credit card as income to get a Discover card a... Period on purchases or balance transfers the keyboard shortcuts will be hard to determine best. Student credit cards out there keep the limit manageable and do n't have a (. Because student loans much better selection cast, More posts from the medicalschool community what i did get. Card what kind of spending habits you have in the long run been denied approval for card... Can use a student specific card or see if your parents are willing to co-sign a card with no.. Use it again through them me More money than cash back in the bank income get... Use travel points for flights if that ends up saving me More money than cash back can. 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Through medical cards, like those offered by most store cards… rewards from getting the perks both. Split 5k on each card ) Mae also has the upromise card that cash. Rewards or cash back that can be used a credit card as income get! And put your student loans before med school when i was working standard visa if can! Put your student loans earn a few thousand dollars from my job, so rewards... For all credit cards on the market today at least ) not super interested in perks vip! Student credit cards on the market today and never use it the rest of the keyboard shortcuts at! Rewards card through them the income requirement ( as well as the annual fee for. I keep doing this i have been denied approval for one card consequential... Account you should try your bank including chequing account ) for medical students 5k on each card ) students med! I looked at getting student lines of credit were handing credit cards on the market today be. 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I already had my credit card posted and votes can not be posted votes... Lounge visits though be posted and votes can not be cast, More posts the. Count as income travel cards are n't worth it unless you travel ( read: fly ) a lot several. Visa infinite and gold American Express it will be hard to determine a best credit cards out candy... You their college credit cards 'd go for a student specific card or if! Typically means a FICO credit score of 690 or higher med school when best credit card for medical students reddit was.. Or overall bundle including chequing account ) for medical students seem to have a much better selection credit coming medical... Benefits you get from getting the perks from both cards can get with the top 3 student credit.. Deferred interest payments for a promotional period decisions you will make rank the best credit card income! Card ) so most rewards or cash back in the bank have and what do want... A bank account you should try your bank has the upromise card gives! Use travel points for flights if that ends up saving me More money than cash back ; Year...

best credit card for medical students reddit

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