APR for Purchase:  

Every person can have a different APR. Yours will be based on your previous credit history and standing with Chase. For those in good standing you can expect to pay 13.24 percent, while those who’ve not done as well could pay up to 18.24 percent. Student MasterCard also has an introductory period of 3 billing cycles where you’ll pay no APR.

Points for Card Use:  

Chase+1 Student MasterCard has an interesting version of a point system that isn’t quite up to par with our top rated products. This being said, we’ll acknowledge Chase’s ability to tap in to the young adult age group by making points available through Facebook, a popular social network.

Karma points, the point system used by Chase and Facebook, can be earned through maintaining good standing with Chase and through usage of the card. They can also be traded on Facebook or donated to charities. Karma points can be collected and then exchanged at the Chase+1 store for prizes which range from books to movies to outdoor accessories. Points appear to of equal value to the U.S. dollar, so they are not given out as generously as points through other Student Credit Cards.

You’ll earn 20 points after your first use of the card. You’ll then earn 2 Karma Points for each month your account is in good standing and you pay on time. If after six months your account is still in good standing you’ll be awarded 8 bonus points. Chase also awards Karma Points for various reason of their choosing throughout the year.

We are not fond of this method mainly because points are so hard to ear, and they do not seem to be correlated with actually using the card.

Who it is for:  

The only stipulation listed to be a Student MasterCard holder is that you must be 18 years of age or older. It does not state that you should be enrolled in any sort of university, college or trade school.

Additional Features:  

Student MasterCard has some of the features we’d expect from a good Student Credit Card, but not all. Their credit education system is decent, but again, not up to par with our top rated products. It offers a quiz, some articles, and an explanation of credit. It also has an email alert system to notify students if they are approaching their credit limit. With this card you will also be able to donate your Karma points to charity.

Fees/Charges:  

Finding out you have a fee when you’re already trying to pay off your line of credit is never fun. To avoid this we recommend good budgeting and money management. However, if this does occur you can expect to pay between $15 and $39 for any late fees. The nice thing is, though, with Student MasterCard, you will not be charged for exceeding your credit limit.

Help/Support:  

Student MasterCard’s customer support isn’t very good. They offer very little other than an email and a phone number for business hours. There are not FAQs or a 24/7 support line, both of which are key to good customer support.

The Cashe+1 Student MasterCard is a decent Student Credit Card, although not our favorite. We were intrigued by their take on a point system, but don’t believe it’s as sharp as our other products. We do like that you can share your points and donate them on Facebook, but it takes too long to earn points, something many college students many not want to deal with.

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