3 Best Credit Cards to Save Money for College 2022

The cost of higher education is rising fast and is an issue of concern for many students. They have to devise new ways to save for tuition and upkeep money. For many years, students have used credit cards to save money for college. A lot of families start 529 college savings plans to grow tax-free money for college tuition.

There are many ways to use your credit card to save money. No matter the way you choose to use it, it is necessary to develop a savings discipline. Some give cashback rewards which are credited as CollegeCounts 529 Rewards. A student needs to do research and establish the best credit card to use for savings.

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Do credit cards offer savings benefits?

There are many ways that you can use to save your college money. You may decide to cut several expenses within your budget for extra savings. A lot of financial institutions make using credit cards as a savings tool a seamless experience. You have several options that you can consider.

You can save money for college through your purchases. You also save time every time you choose to make payments with your card. If you have an essay or research paper to write, you can order your paper online and make your payment. You only need to connect with top writers, such as science help for college students by Ca. Edubirdie experts. The experts will write any type of paper, and you will not be required to leave your desk to go and make payments.

CollegeCounts 529 Rewards Visa Card

Credit Cards to Save Money for College
Source: CollegeCounts

Trust Company and Union Bank are the institutions that issue CollegeCounts 529 Rewards Visa cards. The companies conducted a survey and established that each family spends about $2,500 monthly. They allow families to accumulate savings through purchases. The family must register for the rewards to begin earning them.

Every time the family makes a purchase, it earns 1.529 in cash back. The rewards must be accumulated to $50 for it to be rolled into the CollegeCounts account. If a family spends $2000 monthly for shopping, it earns $30.58 monthly in rewards. In one year, the family will have saved $366.96 in rewards. All the money is credited into the beneficiary’s CollegeCounts 529 Rewards account.

Fidelity Rewards Visa Signature Card

Fidelity Rewards Visa Signature Card
Source: Fidelity.com

Fidelity Rewards Visa Signature Card is issued by Fidelity Bank. For every purchase using the bank’s Visa Card, the beneficiary receives 2% cashback. There is no limit as to how many times the beneficiary can receive rewards. Every time you earn a reward, it is automatically credited to your rewards account. If you make purchases worth $1,500 monthly, your rewards will be $30. In one year, you will accumulate $360.

Upromise Mastercard rewards

Upromise Mastercard Bonus
Source: Upromise

Upromise Mastercard rewards are issued by Barclays Bank. You must link your card with an eligible CollegeCounts 529 account. After successful registration, your account earns 1.529% cashback from purchases. You are allowed to round off your purchases to the nearest dollar to increase your rewards. Let’s say your total purchase is $10.70. You can round it off to $11 to earn more.

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How to accumulate rewards using your credit card

There are many more credit card reward programs that you may choose. Make sure you choose the best credit card with higher rewards or bonuses. The Citi Double Cash Card earns you 2% cashback on every purchase. The card is connected to your eligible 529 accounts and automatically credited there. The trick for earning savings with your credit card is simple. 

You could increase your chances of earning more rewards by applying to multiple cards. You may decide to apply for a Fidelity Bank reward card, Barclays, or MasterCard. Use them when shopping, dining, filling at the gas station, or even paying fees. 

Using cards with higher cashback rates

If you are using the higher lucrative credit cards, you still have the option to save college money. They earn more in terms of cashback, but you have to do a manual transfer. A credit card such as Discover Cashback is issued by Discover Bank. It offers 5% cashback on every purchase. Chase Freedom Flex from Chase Bank offers 5% too. That means if you spend $2,000 monthly, your cashback will be $100 monthly or $1,200 yearly. The Bank of America Customized Cash Rewards card gives 3% cashback. 

Conclusion 

There are no greater rewards than earning cash from your expenditure. This is the benefit you get when you register for a credit card cashback reward program. Different banks issue reward cards with different cashback percentages. Some give 1.529%, 2%, 3% and some 5%.

Also, there are several banks that offer bank bonuses for new customers who open account and fund minimum deposits, you may earn up to $1500.

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Brishabh Shukla

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