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Why regular student credit cards don't stack up against Fizz

Why regular student credit cards don't stack up against Fizz

Why regular student credit cards don't stack up against Fizz

When it comes to building your credit as a college student, student credit cards with high interest rates and confusing terms used to be the only way. Here's why Fizz is a way better option.

When it comes to building your credit as a college student, student credit cards with high interest rates and confusing terms used to be the only way. Here's why Fizz is a way better option.

When it comes to building your credit as a college student, student credit cards with high interest rates and confusing terms used to be the only way. Here's why Fizz is a way better option.

Apr 3, 2023

Sam Lipscomb

3

min

Traditional student credit cards are relatively common on college campuses. But if you’ve ever tried to get one, you’re likely familiar with the headache that is the approval process. On top of sky-high interest rates, student credit cards are confusing and don’t come with a manual. They encourage overspending, debt, and won’t help you get ahead with your personal finances. That’s where Fizz comes in.

How does a student credit card work?

A student credit card is much like a regular credit card. The main difference is that student credit cards are marketed towards college students and often leave people saddled with thousands of dollars in credit card debt. In theory, students have an easier time with the approval process, though that’s not always the case. Even if you’re a student, it can be difficult to be approved for a card without credit history - even if you have an on-campus job.

With a student credit card, you’ll be given an arbitrary credit line - often times more than you have in your bank account. You’ll get a bill once a month, and you’ll have to pay for all of your purchases by a certain date. If you miss that payment date, even by accident, your credit score will suffer. If you decide to only pay back a fraction of your bill, you'll be subject to sky-high interest rates and will end up owing far more than you ever spent. The worst part? These credit card companies actually encourage this kind of behavior. It’s how they make more money.

Why is Fizz different?

Despite the drawbacks of student credit cards, it is possible to use them to build your credit score. But why would you want to go through the hassle when a Fizz card is set up to help you get ahead every step of the way?

Fizz is different from a student credit card in a few ways. First, Fizz doesn’t check your credit score, so there’s no worrying about whether you’ll get approved. Once you’ve signed up, we connect to your existing bank account and give you a spend limit that reflects your account balance to keep you from spending more than you have. At Fizz, we want to help you build credit even if you don’t have credit. The signup process is extremely simple. All you need to do is enter some personal information and connect a bank account and you’ll be ready to go.

Second, Fizz is a debit card that builds credit - not a credit card. With features like daily Autopay and SafeFreeze, your purchases will be automatically paid off on a daily basis and we won’t let you keep building up a balance if you happen to miss a payment. Because Fizz is still an unsecured line of credit, you can make payments once per month if you want to - but daily Autopay and SafeFreeze are one-of-a-kind features that will help you stay on top of your finances. Other cards don’t even come close to that kind of help. And of course, Fizz doesn’t charge fees or interest rates.

The cherry on top? Fizz helps you earn some pretty sweet cash rewards from your spending. For example, Chipotle is one place where Fizz cardholders can earn rewards. Yes, you can literally get money in your pocket for buying a burrito. It’s really as simple as that. You can find offers on the Fizz app and then it’s off to the races. A lot of student credit cards don’t offer any rewards at all.

Fizz to the rescue

Fizz helps you establish a credit profile and build your credit - without the hassle and headache. But if the whole concept is a little foreign to you, that’s ok. We’ve developed resources to help you understand, because you’re not alone. The Fizz app also features a credit dashboard where you can track your score in real time and see what kinds of factors are affecting it.

The old ways of building credit and achieving financial freedom are gone. Whole generations have been subject to crappy credit cards, poor financial education, and debt. We want to change this dynamic and help guide you down the path towards financial freedom. And it all starts by building your credit with Fizz!

Sam Lipscomb

Author bio

Sam is a Kenyon College alum and is head of content at Fizz. He's been a go to personal finance resource among his peers since getting his first credit card during his sophomore year of college. He hails from Washington, DC, loves all things aviation, and currently lives in Los Angeles.

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© Fizz Inc. © 2024 All Rights Reserved.


WeWork c/o Fizz; 154 West 14th Street; New York, NY 10011

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, and Transunion®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.

© Fizz Inc. © 2024 All Rights Reserved.


WeWork c/o Fizz; 154 West 14th Street; New York, NY 10011

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, and Transunion®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.

© Fizz Inc. © 2024 All Rights Reserved.


WeWork c/o Fizz; 154 West 14th Street; New York, NY 10011

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, and Transunion®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.