http://www.student--creditcards.com Helping students pick a credit card Tue, 01 Jun 2010 02:46:54 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 http://www.student--creditcards.com/2010/02/student-credit-cards-and-reward-points/ http://www.student--creditcards.com/2010/02/student-credit-cards-and-reward-points/#comments Fri, 26 Feb 2010 09:18:25 +0000 admin http://www.student--creditcards.com/2010/02/student-credit-cards-and-reward-points/
As a college student, did you know that you can actually get a card with rewards? Well, you can! Most students believe that you can only get a credit card that gives you nothing. As many credit companies are trying to lure students in, they are offering more perks like cash back, points or even prizes for good spending habits!

A common question that is brought up often is “what can I get for my points?” Well, the first thing we need to look at is what credit card company you’re going to apply with. Some will give you points back while others will give you cash back as a credit on your statement. Once again, this all depends who you go through.

If you’re applying for a card that gives you points back, you’re going to find that it takes about 2,500 points to get a gift card at the minimum. Now, if it takes $1 to get a point, you’re going to need to spend $2,500. I know it sounds like a lot but it really isn’t and I’ll explain why. Most cards will give you bonuses for purchases. Let’s say a card gives you six times the points every time you fill up for gas or three time the points every time you buy groceries. You can probably see how this adds up now.

When you apply for a card, look at how your points work. Try and take advantage of the point system so that you can get the most out of it. As long as you do your homework, you should find a great card that works for you and your wallet.
]]> http://www.student--creditcards.com/2010/02/student-credit-cards-and-reward-points/feed/ 0 http://www.student--creditcards.com/2010/01/student-credit-card-facts/ http://www.student--creditcards.com/2010/01/student-credit-card-facts/#comments Thu, 07 Jan 2010 16:29:53 +0000 admin http://www.student--creditcards.com/2010/01/student-credit-card-facts/
College credit cards can also be known as student credit cards. A student card is a new term for young people attending college. Older people are aware of credit cards, which are used for various purposes.

College students mostly use these types of credit cards, which are somewhat similar to normal credit cards. A student might have a credit card that had links to his/her parent’s account.

Distinctions From Normal Credit Cards:

1. The major difference in these types of credit cards is they are exclusively for school purposes.
2. The second difference is students are not aware about the usage of these cards, as a result, they start spending on unnecessary expenses.
3. Money spent on cards is to be paid back.
4. Students need to be aware of the details of card usage.

Credit card companies require a caretaker (parent or guardian) on part of the student applying for such credit card to keep that student away from all hassles. One advantage is that the credit added to such type of credit cards is much lower than credit cards used by working adults.

Students need to undergo training on managing such cards and their overspending habits. They also need to be aware of the importance of good credit rating. Good credit history helps in getting benefits such as possessing credit cards for financial purposes.

Another crucial fact is college students are at great risk with credit cards. One main reason for this kind of trouble is that many student credit cardholders start using such credit cards at a very young age with little knowledge of finance management.

These credit cards give students a liberty to spend on whatever they like. It takes time to understand that you need to have a good credit rating right from the start. It will help you in future, when applying for regular credit cards for loans. Students also need to know that positive credit ratings will help them in their careers, when they finish their graduation. Undergraduates can take care of their scholarships and grants given to them by educational institutions with the help of these credit cards.

Avoid Overspending:

It is the responsibility of college students to maintain their card usage limits. You can maintain it easily by understanding the five signs of overspending:

1. Delay the minimum payment only once.
2. Spend within a set budget.
3. Make use of one credit card to pay the balance of another card.
4. Work towards covering your credit limit.
5. Always, make minimum payments on time.

Four prime reasons for student credit card debts are increasing educational expenses, insufficient knowledge about credits, peer pressure to expend, and offers of impractical credit lines.

College students using these types of credit cards have an option to take the help of a financial counselor to get rid of their financial troubles. Taking this step early in life will help you in understanding the importance and impact of credit on your future.
]]> http://www.student--creditcards.com/2010/01/student-credit-card-facts/feed/ 0 http://www.student--creditcards.com/2009/10/credit-cards-for-college-students-what-they-have-to-offer/ http://www.student--creditcards.com/2009/10/credit-cards-for-college-students-what-they-have-to-offer/#comments Mon, 26 Oct 2009 18:07:59 +0000 admin http://www.student--creditcards.com/2009/10/credit-cards-for-college-students-what-they-have-to-offer/
Credit cards for college students offer plenty of advantages. They are convenient and safe to use. Parents particularly find them convenient. With a credit card, parents can be sure their children will never run out of money to buy what they need and don’t have to worry about theft due to carrying cash.

The college student credit card can be issued in the name of the student but billed to the parent. This is an excellent way for the parent to know what exactly their child is spending and on what.

A college student can use the card to buy just about anything. It can be used to purchase books, tuition, food, laundry, movies, transportation, call home and many other expenses. This type of plastic is particularly useful for a student that is studying abroad or in another city, far from home. Of course, parents must trust their child and have complete confidence it will be used properly.

Another good reason to get a card for your child in college is to establish a credit history. Banks are particularly receptive to offer free credit cards for teens and for college students because they see them as potential future customers. The lending institutions are confident that a college student has a good chance of landing a good paying job once on the job market and will become responsible consumers.

But before banks and financial institutions start handing out credit cards for college students, they want to make sure a student is responsible enough to manage it. Often, the limit of the credit offered to the student is low, but if the student shows the ability to pay on time, this limit can be raised.

As you can see, it may be advantageous to offer your child a credit card. So why not get one for your child today? Your child will thank you now while in college, and later for having helped establish a credit history.
]]> http://www.student--creditcards.com/2009/10/credit-cards-for-college-students-what-they-have-to-offer/feed/ 0 http://www.student--creditcards.com/2009/10/student-credit-cards-for-beginners/ http://www.student--creditcards.com/2009/10/student-credit-cards-for-beginners/#comments Mon, 12 Oct 2009 19:53:33 +0000 admin http://www.student--creditcards.com/2009/10/student-credit-cards-for-beginners/
College students today spend a lot and do not keep a track of their expenditures. Such students find student credit cards very helpful. They are very useful and at the same time beneficial too. Before applying for this type of credit card, consider your financial needs.

Financial institutions give these credit cards to students considering individual financial requirements. Beginner credit cardholders after finishing all the formalities with financial institutions, you can start using the credit card.

Advantages and Rules:

A person needs to have a fix job and a stable income to apply for a normal credit card. This is not the case in terms of a student credit card. As the name suggest, student credit cards are mainly for students. The amount charged on this card is always lower than the regular credit cards.

You do not to be an employed individual to apply for such credit cards. There are no annual fees charged on these credit cards. People owning such types of credit cards have an access to certain other rewards and benefits given by the financial institutions. The best part of these cards is that, they are accessible online and hence you can manage your accounts online.

Internet is the best tool to purchase a student credit card. You can gather details from your friends or relatives before buying this credit card. You need to determine your needs before selecting a particular type of card. These cards are the first step in building good credit scores, which may help you in the near future. Next, you can use these good credit scores to purchase loans.

Rules

1. These credit cards are meant for college needs only.
2. Avoid unnecessary purchases.
3. Keep a track of your expenditure.

Next, ratings offered by credit card agencies are based on the first credit card of a student. Hence, make sure they do not cancel your first credit card. Credit card companies rate students on the duration of having their cards. This helps when you apply for a new card later on. If your credit history is good, companies may offer the best deals. It is also necessary that you maintain good credit standing right from the beginning. Hence, buy affordable things and pay bills on time, as they are helpful to maintain a good credit record.

If you find any strange figures on your bill, immediately report it to the fraud department. In addition, you need to pay more than the minimum balance to accumulate lower interest rates. A credit rating is very important, as it can either save your money or make you spend money. An individual with a good credit rating will get lower interest rate compared to a person with bad credit rating.

Do not open too many accounts at one time. People who make late payment fees regularly are considered to have bad credit history. The last and important step is to close the accounts that are not in use. These small tips help in maintaining an excellent credit history and helps in getting the best benefits for beginners through these credit cards.
]]> http://www.student--creditcards.com/2009/10/student-credit-cards-for-beginners/feed/ 0 http://www.student--creditcards.com/2009/10/student-credit-cards-managing-them/ http://www.student--creditcards.com/2009/10/student-credit-cards-managing-them/#comments Mon, 12 Oct 2009 11:45:47 +0000 admin http://www.student--creditcards.com/2009/10/student-credit-cards-managing-them/
When you go to campus there will be many opportunities for you to secure a credit card as a student. You will need to be smart in the card that you select because this will determine your credit history in the future. The choice you make when you select your card will help you when it comes to managing your money while a student. The first thing that you should do as a college student is to read all the application materials carefully. Do not sign any card agreement until you know what happens to your interest rate after a period of time and will there be an additional interest rate or rate hike if you are late in making a payment.

It is wise not to use your card for every little thing that you may want to buy running your bill up very high causing you not to be able to make a full payment or a late pay. You are the owner of the credit card and it is up to you to be able to manage your credit card money just as you would cash money in your pocket. A credit card used wisely only when there is a money emergency not for things like pizza parties or spring break as an example of misuse. You might need new mittens because the weather is cold and you have no gloves. You might need to go to the med center for a cold or sever headache and need prescription drugs this is an excellent reason to use your card. It is your responsibility as a student to manage the use of your credit card.
]]> http://www.student--creditcards.com/2009/10/student-credit-cards-managing-them/feed/ 0 http://www.student--creditcards.com/2009/08/student-credit-cards-easy-as-123/ http://www.student--creditcards.com/2009/08/student-credit-cards-easy-as-123/#comments Mon, 10 Aug 2009 18:24:21 +0000 admin http://www.student--creditcards.com/2009/08/student-credit-cards-easy-as-123/
Yes, you’ve flown the coop, and now you have to start taking care of all of those things Mom and Dad always took care of — food, car insurance, keeping a roof over your head, etc.

One of the things which probably doesn’t rank up there with cramming for finals, finishing up that paper, or going to the latest party is establishing credit. Still, it’s probably worth a few moments of your time to check out these three easy steps for getting started.

Step 1. Get a student credit card.

There are many sites on-line. If you have a checking account, checking with your bank is always a good place to try. Typically banks give you a low limit, but that’s fine — you don’t need a high limit. You should be able to find a card with no annual fee. Interest rates are not too important at this time because what you want to do with that first credit card is use it in lieu of cash, and then pay it off every month. However, you may as well shop around a bit and get the best interest rate you can. It just may be a little difficult to get a great rate since you have no credit history. Using your card and paying off the balance will start building a favorable credit history, and your monthly statement will give you a record of how much you’re spending and on what.

Step 2. Make your payments on time.

This is so critical. With this first card, you don’t want to make minimum monthly payments, you want to pay off the balance. You’re not using the card here to actually borrow, you’re mainly using it to replace cash and build your credit history. Having a good credit history will pay off later when you do actually need to borrow money (for a house, a car, student loans, etc.) because you’ll qualify for lower interest rates. If you have some extra expenses and you just can’t swing the entire balance, pay as much as you can, but be sure to make the payment on time. (All three credit bureaus keep track of those late payments for years.) Then catch up the next month.

Step 3. Don’t overspend.

Yeah, now you’ve got the credit card. Wouldn’t that jacket look great on you at the next football game? Yes, you may be tempted. Having the credit card would make it possible for you to buy things you don’t really need and can’t really afford. I really want to stress how important it is for you to live within your means. This doesn’t mean you can never buy stuff you really want. Just plan for it. Put it in your budget. Take control. Impulse buying is forfeiting that control.

Hope this helps.
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