Student Credit Cards Interview with Bloomberg Radio
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Saturday, August 29, 2015 with Daria Albinger of ABC News Radio about the August 2015 Student Credit Cards survey. The interview and transcript are below.
Michael McKee: Until recently college students were being warned about getting credit cards when they arrived at school, but CreditCards.com recently took a new look at campus cards. Senior Industry Analyst Matt Schulz.
Matt Schulz: These cards used to have really high interest rates and very few perks, but things have changed for the better. Today’s student cards tend to have more competitive rates, more rewards.
McKee: None of the cards reviewed charges an annual fee.
Schulz: It’s really good because most college students don’t have a whole lot of extra money laying around.
McKee: Schulz says doing a good job of managing a campus card will help a student build a solid credit history.
Schulz: Job number one for anyone with a credit card is to pay your balance off at the end of every month. And if you can’t do that, you have to absolutely make sure that you pay more than the minimum.
McKee: Two-thirds of the campus cards offer some reward. Schulz says the perks are relatively modest, but if the cards are managed properly students will one day qualify for better rewards.