The Best Credit Cards In Their Class
September 7, 2007
Aleksandra Todorova from Smart Money magazine put together a list of the top credit cards for students, rewards programs, cash or gas rebates, financial rewards, and low rates. He provides a thorough comparison of the cards considered and explains the benefits of each card recommended. Here are the highlights:
Student Cards
The Citi mtvU Platinum Select Visa Card for College Students offers bonus points for a good GPA, staying current on your bill, staying within your credit limit, and money spent on textbooks.
Rewards Programs
American Express Membership Rewards – “the oldest and remains one of the most comprehensive programs around.”
Citi ThankYou Network – “offers innovative ways of accumulating points and nearly all of Citibank’s rewards cards are fee-free.”
Cash or Gas Rebates
American Express Blue Cash for aggressive spenders – “5% cash back on purchases at gas stations, supermarkets and drug stores and 1.5% on everything else, once you spend $6,500 in a given year”. Am Ex Blue Cash is the card that we use for almost all our purchases.
The Platinum Discover Gas card is the runner-up, “a favorite among lighter spenders.”
Financial Rewards
Fidelity Investments 529 College Rewards card – “has the most generous rebate rate — 1.5% of all purchases will be deposited into a 529 Plan”.
There were two runners up, Fidelity Investment Rewards Card, which “converts MBNA’s rewards program points into investment dollars at a generous 1.5% rate” and One from American Express, “1% of your purchases are contributed to a high-yield savings account, which currently earns 5%. The drawback: The annual $35 fee.”
Low Rates
For those that carry a balance it makes sense to go with the lowest rate you can on a card. The winner was Simmons First Visa Platinum “with a 7.25% fixed APR” and the runner-up the Capital One Platinum Prestige card, “7.89% APR, reserved for people with excellent credit”.
There you have it, a card for every need. Of course, if you can’t be responsible with a credit card you probably shouldn’t own one but used correctly a credit card can be a great financial tool.


All posts by Ben Edwards
For rewards cards, it might be best to carry more than one. The Discover Gas card can have a lower APR and you definitely get your 5% on gas. To really make cash on the Amex blue card, you gotta spend a lot of cash.
Wow1 I have found various types of credit card and their benefits. I think credit card are very useful for students as they get bonus points and other rewards.
My opinion is to provide constant and lowest percentage rates regarding credits but not with varying or adjustable percentage rates in high,So that every one can have a card with good add-ons.