Establish good credit habits with a student credit card
by Susan Slobac
Young people starting out in today's marketplace need a couple of items to succeed. One is a bank account that offers credit and savings privileges. The other is a student credit card. Earning money and setting aside a portion each month for savings is an excellent way to utilize the money a young person earns. But in order to build a credit history, cash purchases are not enough. Banks require a credit history before you will be allowed a loan for the purchase of a car or a house.
A good way to develop a credit history is through the responsible use of a student credit card. By establishing a regular pattern of making purchases on a student credit card and then paying them off conscientiously, it is possible to build an impressive credit history. Good credit provides greater future purchasing power through increased lines of credit.
When you are looking for a new credit card, instant approval can take all the waiting out of the approval process. This will enable the credit card company to issue the card much sooner than using normal processes, and gives you the opportunity to use your new card sooner rather than later.
Under normal circumstances, if you are a new borrower and have no credit history, you might be required to have a cosigner in order to get a student credit card. Some banks that offer credit cards will reduce their risk by requiring you find an adult with a good credit history to sign your credit card application with you, with the understanding that if you default on the card, the cosigner would be responsible for paying the balance. It can be difficult to find an adult that would be willing to cosign, so you will want to examine each credit card offer for their requirements prior to applying.
Bank of America offers a student credit card that requires no cosigner, however. Once you have that credit card, instant buying power is yours. The student card from Bank of America also comes without an annual fee, and offers the convenience of online banking as well.
To be eligible for a student credit card, you will need to be enrolled in some kind of educational institution and be older than eighteen years of age. A credit card, when used reasonably by a student, can be a great tool to help you build your credit history so that it reflects well on you.
แสดงบทความที่มีป้ายกำกับ student credit card แสดงบทความทั้งหมด
แสดงบทความที่มีป้ายกำกับ student credit card แสดงบทความทั้งหมด
วันศุกร์ที่ 28 มีนาคม พ.ศ. 2551
วันพฤหัสบดีที่ 7 กุมภาพันธ์ พ.ศ. 2551
How to Choose the Best Student Credit Card
How to Choose the Best Student Credit Card
by Scott Stadler
Choosing the best student credit card certainly doesn't have to be a complicated process. Sure, there are a few things every applicant should keep in mind, but most of the credit card offers made available to college students these days are pretty decent. So how do you choose the best student credit card?
It's not all About Free T-Shirts!
If you take one thing away from reading this article, please make it this piece of advice - don't choose a student credit card solely on fact that they're giving away a free t-shirt or other trinket to those that sign up. That's a really major “gotcha†right there. The key to choosing the best student credit card is actually comparing several good deals side by side in order to make the most educated decision on what is best for you and your finances. Signing up for any old card because of a silly freebee just won't do.
Investigate the Interest Rate.
Hopefully, you'll be able to pay off the balance in full every month on your new student credit card. If this is the case, you'll never need to even worry about the interest rate. But in the real world, the notion of never carrying a balance is sort of unrealistic. Average student cards frequently come with high APR's in the 20 percent plus range - that's a real ouch factor. If you expect to carry a balance from time to time, know the best student credit cards will beat that interest rate substantially.
Rewards are a Great Bonus.
As long as you're swiping that credit card, you might as well get some payback for it, right? Well that's exactly what you can expect with the best student credit cards - those that offer rewards programs. Look for rewards that best suit your own needs. Common credit card rewards give you a percentage of each and every purchase back in the form of cash, airline miles, gas rebates, or other desirable merchandise. Those rewards really add up fast for typical students who purchase college books and pay for other school related expenses with their student rewards credit card.
Avoid the Annual Fee.
Charging annual fees is a fairly common practice for credit cards geared towards students. If you're getting good rewards and a decent interest rate, there's not much shame in paying a minimal annual fee (such as $20 per year). But do read the fine print first and avoid cards that charge excessive annual fees just to be a cardholder. You can do better. Credit card companies are always looking to attract lifelong customers from the student demographic group. The very best student credit cards appreciate this fact and will have no annual fee at all.
So rest assured, you'll find the perfect card to fit all of your needs in little or no time at all. Just do the research and comparisons and you'll be well on your way to choosing the best student credit card possible!
by Scott Stadler
Choosing the best student credit card certainly doesn't have to be a complicated process. Sure, there are a few things every applicant should keep in mind, but most of the credit card offers made available to college students these days are pretty decent. So how do you choose the best student credit card?
It's not all About Free T-Shirts!
If you take one thing away from reading this article, please make it this piece of advice - don't choose a student credit card solely on fact that they're giving away a free t-shirt or other trinket to those that sign up. That's a really major “gotcha†right there. The key to choosing the best student credit card is actually comparing several good deals side by side in order to make the most educated decision on what is best for you and your finances. Signing up for any old card because of a silly freebee just won't do.
Investigate the Interest Rate.
Hopefully, you'll be able to pay off the balance in full every month on your new student credit card. If this is the case, you'll never need to even worry about the interest rate. But in the real world, the notion of never carrying a balance is sort of unrealistic. Average student cards frequently come with high APR's in the 20 percent plus range - that's a real ouch factor. If you expect to carry a balance from time to time, know the best student credit cards will beat that interest rate substantially.
Rewards are a Great Bonus.
As long as you're swiping that credit card, you might as well get some payback for it, right? Well that's exactly what you can expect with the best student credit cards - those that offer rewards programs. Look for rewards that best suit your own needs. Common credit card rewards give you a percentage of each and every purchase back in the form of cash, airline miles, gas rebates, or other desirable merchandise. Those rewards really add up fast for typical students who purchase college books and pay for other school related expenses with their student rewards credit card.
Avoid the Annual Fee.
Charging annual fees is a fairly common practice for credit cards geared towards students. If you're getting good rewards and a decent interest rate, there's not much shame in paying a minimal annual fee (such as $20 per year). But do read the fine print first and avoid cards that charge excessive annual fees just to be a cardholder. You can do better. Credit card companies are always looking to attract lifelong customers from the student demographic group. The very best student credit cards appreciate this fact and will have no annual fee at all.
So rest assured, you'll find the perfect card to fit all of your needs in little or no time at all. Just do the research and comparisons and you'll be well on your way to choosing the best student credit card possible!
วันศุกร์ที่ 14 ธันวาคม พ.ศ. 2550
Finding Your First Credit Card
Finding Your First Credit Card
by Gabriel Adams
One of the biggest challenges when it comes to applying for a credit card may not be your previous credit history; it's going to be the challenge of finding your first credit card. Just like anything, the first time you do it, you're going to be new to the game. Credit cards are no different.
An advantage you may have when it comes to applying for a credit card is being a college student. The reason this is going to give you the advantage is because all major credit companies such as VISA and MasterCard offer credit cards solely for students. If you're not a student, it's going to be more of a challenge to find a card you're looking for.
When applying for a college student credit card, you're going to want to make sure you've applied for the university you want to attend. This is important because the credit companies will ask you specific college information. It will be next to impossible to fake your information because all of the companies will follow up on it if they suspect fraud.
Just about all of the credit cards you're going to look at will offer some sort of reward. Before applying, you're going to want to ask yourself a few questions. You will want to find out what rewards will benefit you the most. If you never fly on an airplane, then an airline based reward card won't benefit you at all. If you drive a lot, then a card focused on saving gas will benefit you.
Credit card rewards designed for college students are actually really good. A lot of them range anywhere from getting cash back on your purchases to bonus points every time you spend a dollar. You'll also find that some cards in particular won't offer any rewards at all. Even if you don't think the rewards will help you, I would strongly recommend that you apply for one because most of the times, these points will never expire.
What you'll find when applying for your first credit card is that the APR rate is extremely high. These rates can sometimes get as high as twenty to thirty percent. This is because the credit card companies have no history on you. Just put it this way. If you were to lend money to a stranger, you would feel a lot more uncomfortable then say, you're long time friend. The credit card companies feel the same way. Just remember that if you pay your bill off on time in full, you won't be charged the finance charges.
Another note you must jot down is that a credit card company is not going to give you a high credit limit, especially as a student. Your limit is going to range anywhere from five hundred to a thousand dollars. This is once again because you're new to the game and you have to establish trust with the companies. Once you prove your trust, your credit card score will go up and so will your credit limit.
When on your search for your first time credit card, you have to remember that only you can prevent debt. You will have to be extremely responsible when using your credit card because most companies will lend you more money than you can handle hoping you can't pay it off. This is of course, how they make money. If you're a disciplined person and currently attending college, then a college student credit card is the area you should focus on!
by Gabriel Adams
One of the biggest challenges when it comes to applying for a credit card may not be your previous credit history; it's going to be the challenge of finding your first credit card. Just like anything, the first time you do it, you're going to be new to the game. Credit cards are no different.
An advantage you may have when it comes to applying for a credit card is being a college student. The reason this is going to give you the advantage is because all major credit companies such as VISA and MasterCard offer credit cards solely for students. If you're not a student, it's going to be more of a challenge to find a card you're looking for.
When applying for a college student credit card, you're going to want to make sure you've applied for the university you want to attend. This is important because the credit companies will ask you specific college information. It will be next to impossible to fake your information because all of the companies will follow up on it if they suspect fraud.
Just about all of the credit cards you're going to look at will offer some sort of reward. Before applying, you're going to want to ask yourself a few questions. You will want to find out what rewards will benefit you the most. If you never fly on an airplane, then an airline based reward card won't benefit you at all. If you drive a lot, then a card focused on saving gas will benefit you.
Credit card rewards designed for college students are actually really good. A lot of them range anywhere from getting cash back on your purchases to bonus points every time you spend a dollar. You'll also find that some cards in particular won't offer any rewards at all. Even if you don't think the rewards will help you, I would strongly recommend that you apply for one because most of the times, these points will never expire.
What you'll find when applying for your first credit card is that the APR rate is extremely high. These rates can sometimes get as high as twenty to thirty percent. This is because the credit card companies have no history on you. Just put it this way. If you were to lend money to a stranger, you would feel a lot more uncomfortable then say, you're long time friend. The credit card companies feel the same way. Just remember that if you pay your bill off on time in full, you won't be charged the finance charges.
Another note you must jot down is that a credit card company is not going to give you a high credit limit, especially as a student. Your limit is going to range anywhere from five hundred to a thousand dollars. This is once again because you're new to the game and you have to establish trust with the companies. Once you prove your trust, your credit card score will go up and so will your credit limit.
When on your search for your first time credit card, you have to remember that only you can prevent debt. You will have to be extremely responsible when using your credit card because most companies will lend you more money than you can handle hoping you can't pay it off. This is of course, how they make money. If you're a disciplined person and currently attending college, then a college student credit card is the area you should focus on!
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