Gas-Station Affiliated Cards vs. General Gas Rebate Cards
Basically, every gas card falls under one of two categories; a credit card which only gives a discount at an affiliated station, or a general purpose card which gives a discount at every gas station. Each of these has their pros and cons. For example, the Exxon Mobil credit card gives a 5% rebate, but that only applies to purchases at Exxon Mobil stations. Meanwhile, the American Express Gold Card gives only two points per dollar spent on gas, but the difference is that it can be used at any station. Which type will benefit you the most? Well, that depends on where you buy gas. If always buy from the same company, then it might make sense to go with their affiliated card. If you don’t, then it’s probably better to get an American Express, Discover, etc. that can be used anywhere.

Annual Fee vs. No Annual Fee
Some gas rebate cards charge an annual fee… will that make sense for you? For example, the American Express Gold Card (Premier version) charges $175 per year; if you’re not a big spender, this probably won’t be a smart decision. There are others which don’t charge an annual fee (like the Discover More card) but the drawback is there are limits and restrictions on its gas rewards program. Some of the gas station affiliated cards are almost always a bad deal, such as the Chevron credit card. Their “premium” charge card doesn’t offer rewards on gas, except for a short promotional period after you apply. Their Visa version does offer a rebate, but it’s only 10 cents per gallon and only applicable at Chevron stations.

Making The Final Decision
If you’re considering the Exxon Mobil card, Discover More card, or any of the others mentioned, it’s important to realize that there are literally dozens of others to choose from. Make sure you consider each and every one before making your final decision. What’s best for one person may not necessarily be the right choice for you.

Here are five alternatives that can be used for credit cards:

Online Payment Systems
Online payment systems like Paypal allow the consumer to use these online payment systems to shop online and complete payment, while providing a viable alternative to credit cards. These payment systems are safe and secure and money can be added directly from the bank account to fund these purchases. There are over one million websites that allow the consumer to shop on the internet using their account, without ever requiring a credit card number.

Prepaid Credit Cards
Prepaid credit cards can be obtained from a variety of financial stores and shops. They can also be obtained on the internet to be given as gifts. These credit cards are loaded with a certain amount of money and can be replaced when this money has been spent. Prepaid credit cards allow the shopper to stay within a certain budget, and require no credit rating. They come with high fees, but can be instantly loaded and used after loading.

Secured Credit Cards
Secured credit cards are great for those consumers that have not been approved for a traditional credit card in which the credit limit is granted based on the credit score. Secured credit cards require a deposit which is equal to or less than the credit limit that is being provided and can be a great way to gain access to a credit card as well as developing and building the credit rating. Secured credit cards can be used just like a normal credit card, only the deposit is returned once the account has been in good standing or the account has been closed for an account that is non-secured.

Debit or Check Cards
Debit or check cards can be used like credit cards, but draw the money from the checking account rather than allowing a credit line which should be repaid at the end of the month. These are a great way to get credit card debt under control – and are a great alternative for those that find themselves easily attracted to the lures of credit use.

Temporary Credit Card Numbers
Many financial companies and online payment systems offer temporary credit card numbers which can be used to shop online at stores that do not accept the online payment systems.

The consequences of student credit cards however, only become apparent when the person enters professional life. Most teenagers and even some college students, continue to live on allowances from their parents even if they have part time jobs, because part time jobs cannot sustain them. A student credit card, in such a scenario, is a recipe for disaster since it instills the motto of buy-now-pay-later at a highly impressionable and immature age. The individual starts to believe that buying is a habit which needs to be fulfilled even if one’s allowance does not allow it. The resulting debt incurred, is seen as a temporary impediment, one which can be easily ignored.

Most college surveys reveal that student credit cards are no longer a novelty. Most students confess to having multiple credit cards maxed out, referring to having reached their limit. By the time these student reach their professional life, their debt amounts to thousands of dollars already and the cycle of debt persists for ever more.

It has also been seen that students remain unaware of the consequences of their debt. Most students continue to believe that once they enter professional lives, their jobs shall take care of their debt. They remain oblivious of the fact that the transition to professional lives has a high cost as well, and to sustain a standard of living to which they have become accustomed to by using their student credit cards, requires a lot more financial support than their start-up jobs can offer. Credit card companies are savvy enough to hide all these details, but student credit cards are usually the first step towards bad credit. As time wears on and students become professionals, keeping up with the debt payments can sometimes become increasingly difficult and as a result, debt default occurs.

Colleges should therefore take it upon themselves to start advising on how to deal with student credit cards. Like all aspects of life, this as well is a very important part and a necessary skill to learn when facing life choices.