NJIT EDU Credit Card from Celtic Bank Review

In the world of credit cards, finding the right fit for your financial needs can often feel like navigating a maze. Each card offers a unique set of benefits, fees, and interest rates, making it crucial to carefully evaluate your options. Today, I’ll be diving deep into the NJIT EDU Credit Card from Celtic Bank. This card is positioned as a starter card for those with no credit history to poor credit scores. With its modest 1% cash back on all purchases and a host of additional benefits, it warrants a thorough examination.

NJIT EDU Credit Card Review

The NJIT EDU Credit Card from Celtic Bank is designed with students and individuals with poor credit in mind. It offers a pathway to build or rebuild credit while providing some valuable benefits. Here’s an in-depth look at what this card has to offer.

Key Features:

– Cash Back: 1% on all purchases
– Annual Fee: $0
– Purchase APR: 20.99% Variable
– Foreign Transaction Fee: None
– Credit Score Requirement: No credit history to poor (0-579)
– Additional Benefits: Cellphone Protection, Collision Damage Waiver, Mastercard Airport Concierge™

NJIT EDU Credit Card Key Takeaways

The NJIT EDU Credit Card from Celtic Bank stands out for various reasons. Here are some key takeaways:

1. A Good Starter Card

This card is ideal for individuals who are just starting their credit journey or those looking to rebuild their credit. With a low entry barrier, it can be a valuable tool for establishing a credit history.

2. No Annual Fee

The absence of an annual fee makes this card an attractive option. You won’t have to worry about an additional yearly cost eating into your rewards or budget.

3. 1% Cash Back

While 1% cash back on all purchases may not be groundbreaking, it’s a steady and easy-to-understand reward structure. For those just beginning their credit journey, this can be a simple way to earn rewards without any complex categories or limitations.

4. Additional Benefits

The NJIT EDU Credit Card offers some notable perks like cellphone protection, collision damage waiver, and the Mastercard Airport Concierge™ service. These benefits add significant value, especially for a card targeting those with limited credit history.

5. High Purchase APR

With a variable APR of 20.99%, it’s essential to manage your spending and aim to pay off your balance in full each month. Carrying a balance could lead to substantial interest charges over time.

NJIT EDU Credit Card Pros and Cons

Like any financial product, the NJIT EDU Credit Card has its strengths and weaknesses. Here’s a closer look:

Pros:

1. No Foreign Transaction Fee
– This is a significant advantage for those who travel abroad or make international purchases. You won’t have to worry about extra charges when using your card outside the U.S.
2. No Annual Fee
– The absence of an annual fee is a considerable perk, especially for students and those with limited budgets. It ensures that you can use the card without worrying about an additional cost each year.
3. Rewards on All Purchases
– Earning 1% cash back on all purchases is straightforward and beneficial. There’s no need to track spending categories or activate quarterly bonuses.
4. Additional Benefits
– The card offers valuable perks like cellphone protection (up to $600), collision damage waiver for rental cars, and savings on airport concierge services. These benefits are uncommon for a card targeting those with poor credit.

Cons:

1. High Purchase APR
– The card comes with a high variable APR of 20.99%. This means carrying a balance could lead to significant interest charges, making it crucial to pay off your balance in full each month.
2. No Balance Transfers or Cash Advances
– The card does not offer balance transfers or cash advances. If these features are important to you, you’ll need to look for another card.
3. No Welcome Bonus
– Many credit cards offer a welcome bonus to new cardholders. The NJIT EDU Credit Card does not have any sign-up bonus, which may be a drawback for some.

NJIT EDU Credit Card Benefits

The NJIT EDU Credit Card comes with a range of benefits that can add value beyond the basic cash back rewards. Here’s a detailed look at the additional perks:

1. Cellphone Protection

One of the standout benefits is cellphone protection, which covers up to $600 in damage or theft. Given the high cost of modern smartphones, this protection can be invaluable. To qualify, you must pay your monthly cellphone bill with the NJIT EDU Credit Card.

2. Collision Damage Waiver

This benefit provides additional insurance coverage when you rent a car. It can save you money on rental agency insurance fees and offer peace of mind when you’re on the road.

3. Mastercard Airport Concierge™

Cardholders can enjoy a 15% savings on Airport Meet and Greet services. This perk can enhance your travel experience by making airport navigation smoother and less stressful.

4. No Foreign Transaction Fees

For those who travel internationally or make purchases from foreign merchants, the absence of foreign transaction fees is a significant advantage. You can use your card abroad without worrying about extra charges.

5. Credit Building

The primary benefit of the NJIT EDU Credit Card is its potential to help you build or rebuild your credit. By using the card responsibly and making on-time payments, you can improve your credit score over time. This can open doors to better financial products and lower interest rates in the future.

Conclusion

The NJIT EDU Credit Card from Celtic Bank is a solid option for individuals with no credit history or poor credit scores who are looking to build or rebuild their credit. Its straightforward 1% cash back on all purchases, lack of an annual fee, and no foreign transaction fees make it an attractive choice for students and those starting their credit journey.
While the high purchase APR and lack of balance transfers or cash advances may be drawbacks, the card’s additional benefits like cellphone protection, collision damage waiver, and Mastercard Airport Concierge™ services add significant value.
As with any credit card, it’s essential to use the NJIT EDU Credit Card responsibly. Paying off your balance in full each month will help you avoid high-interest charges and make the most of the cash back rewards. By doing so, you can build a positive credit history and set yourself up for better financial opportunities in the future.
In summary, the NJIT EDU Credit Card from Celtic Bank offers a straightforward and beneficial way to start building your credit while enjoying some valuable perks. If you’re in the market for a starter card, it’s worth considering.