New Zealand HeraldDiana Clement: How to save teens from the credit trapNew Zealand HeraldIn this country, under-18s can't take out credit cards or sign credit contracts (hire purchase agreements). Even so, it's a big leap for an 18-year-old from ...and more » […]
Two held for procuring credit cards at fake addressesIBNLive.comPTI | 07:09 PM,Sep 03,2010 New Delhi, Sep 3 (PTI) Two youths, who allegedly procured credit cards including one of a senior Intelligence Bureau (IB) ...and more » […]
Students, parents face raft of decisionsEdmonton JournalOf course we could upgrade it to a student credit card, charging regular credit-card interest rates of 18.5 per cent. We passed on the credit card, ...and more » […]
Texas A&M Faculty Object to Evaluation PlanInside Higher EdCuomo's statement said he was concerned about reports of colleges giving credit card companies students' personal contact information without the students' ...and more » […]
Will recession turn college students into Republicans?Atlanta Journal Constitution (blog)Credit cards got maxxed out. People got laid off. They started walking away from their homes. Those of us who didn't buy into that “Bigger is better” crap, ...and more » […]
Moneywise MagazineStudents will have to learn new ways to build credit historiesFort Worth Star TelegramLast year, student lender Sallie Mae said 84 percent of students used credit cards, with the average holding a whopping 4.6 cards. ...'Good debt' exists for wise studentsBaylor University The Lariat OnlineEditorial: Credit card education vitalWat […]
aircargoworldCuomo Opens Probe of Credit-Card Marketing to New York College StudentsBloombergNew York began a statewide investigation into credit-card marketing practices that target college students ...New York investigating college credit card offersDebtmerica Relief (blog)Credit Card Marketers Targeting Students Get New ScrutinyConsumer AffairsCuomo Inves […]
Globe and MailStudents in 'transitional stage' for financesRed and Black“People should use their credit cards wisely.” Cude said having a small amount of debt is alright as long as the student can pay it off. ...Reasons to use a credit cardHeliumBuilding a good credit score in collegeBankrate.comHow to improve your credit ratingMyFinances.co.ukBizj […]
New York Times (blog)Student Loan Debt Outpaces Credit Card Debt in USMinaretBy UWIRE By PRIYA ANAND Consumers owe more on their student loans than their credit cards, according to data released this month by the Federal Reserve. ...Student loan education debt grows larger than credit card liabilitiesSeer PressStudent loan debt clock: $848 billion and counti […]
Forbes (blog)For College Students, Credit or Debit is the QuestionHuffington Post (blog)Some banks appear to be bending the rules and letting people below the age of 21 sign up for their credit cards. Read The Real New Student Credit Card Rules ...The Color of Money: Basic lessons on credit cards for studentsWashington PostCredit card companies facing tighte […]
Searching for your first credit card will only be hard if you make it that way. If you’ve been searching for a while and you’re still confused about the credit cards themselves, this article will help you better understand some of the important questions most first time student appliers ask. Hopefully after this read, you’ll understand the concept of student credit cards.
Below are some of the questions a lot of people ask when they are looking for their first credit card. Along with the questions, we have supplied a detailed answer so that you’ll be able to find the perfect credit card that fits your needs.
How many credit cards will I need to build up my credit?
The credit building game can be very tough when you don’t know anything about it. A lot of things affect your credit score such as debt to income ratio, your available credit, and so much more. When you start building credit, you’re only going to need to have one credit card to do so. You won’t need to apply for more than one credit card just to build your credit. If you hear anything else, it’s just a myth.
How do I know what credit card to get?
This answer really relies on you. When you think of a first time credit card, you think that you’re going to get a credit card that has no rewards at all. This is far from the truth! In fact, if you browse around and see what kind of credit cards there are to offer, you will see that there are many rewards ranging from gas rewards to cash back rewards, it’s all up to you on what you want.
The easiest way to decide which credit card will best suit you is to sit back and see what you spend your money on. If you find yourself spending your money on automotive type purchases a lot, you may want to get a gas/auto related credit card that gives you the maximum benefits. Remember, you can make the most out of your credit card, just don’t overdo it! If you spend more than what you make, obviously you’re going to be headed down the wrong road.
Are credit cards really bad?
Credit cards are bad if you make them that way. If you’re able to pay your bill off in time each month, you will be able to avoid those pesky APR charges. If you don’t think you’ll be responsible enough to pay off your bill each month then I’d say avoid them altogether! You have to remember that most of America doesn’t know how to manage their money; this is what gives the credit card industry such a bad name. If you want to be in the minority, spend your money wisely and you’ll be fine.
The questions could go on about credit cards and if you really want to get more answers, it’s best that you do your research before you apply. With the proper research and responsibility, you’ll be find with a credit card designed for a college student.
Real Swell Tips for Managing Student Credit Card Debt
Its a fact. Trying to function in todays society without using credit is just impossible. Even if you are determined to keep your own personal involvement with the credit system to a minimum, it will search you out. This is because, more and more people and agencies, such as landlords and potential employers are using your personal credit rating as a determinate factor in making important decisions about you.
Student Credit Cards are Easy to Obtain
Ironically, the best time to begin establishing a positive credit rating is while you are still a student. For beginners, student credit cards are easy to obtain and you can get one even if you are unemployed. Secondly, it takes a couple of years for positive actions to fully reflect on a credit rating and time is one thing that students have plenty of.
Start Early While Still in School
This means that if a person manages their student credit card debt properly and makes all of their payments early or on time, once they graduate they can hit the real world armed with a positive credit rating to impress potential employers with. Lastly, another positive aspect of beginning to manage credit card debt while one is still a student is that there is plenty of time to fix screw ups.
Great Tools for Building Posetive a Credit Rating
What this means is that if you do end up with bad credit due to a series of mistakes or bad decisions, there is time for damage repair. Credit cards are a great way to build up a positive credit rating while at the same time they are a great way to ruin one. You don’t have to be necessarily negligent either, to mismanage student credit card debt.
Read the Contract Carefully
Most people are unaware that the interest rate on a credit card can be increased if they are late on their car payement. While this may seem unfair, it is just one of the many clauses that are contained in the fine print of a typical credit card contract. This is why everyone should make sure that they read and understand all of the terms carefully before they agree to any credit card contract.
How to Go About Choosing the Right Student Credit Card
Before you even take your first class, it is a certainty that you will be receiving credit card offers from all directions. If you are going to school away from home, these student cards can be a valuable tool for your day to day expenses and traveling home for visits alike.
A student credit card can also help with the costs of redecorating your dorm room to something a little more you. Finding the right card which is perfect for you all start with completing an application.
Companies who offer these cards are in fierce competition for your business – they may even approach you as you stroll around your campus. Some companies offer perks like clothing and food if you’ll just fill out one of their applications. Needless to say, you shouldn’t decide on it because of free pizza or a ball cap. Everyone loves getting something for nothing; but this is an important decision. You should decide based on the features of the card and nothing else.
Above all, don’t just go for the first offer you get. Compare at least three offers first – or better yet, take your comparison shopping online.
There may be many different companies who want to extend you credit. They might even each offer the same credit limit. How do you choose the right card for you? The first step is to determine how much this card is going to cost you to use.
Some student credit cards come with an annual fee. The other cost to think about is the APR (the interest rate). A card with no annual fee is what you should look for. If you don’t have to pay an annual fee, avoid it. You can find one if you look around.
The interest rates you are likely to find will be somewhere between 11 and 17 percent. Besides the interest rate, you might find some other things which might influence your decision.
There affinity cards; such as ones featuring your school’s logo. There are also cards for environmental and political groups.
Some of them offer you reward points which you can trade in for rewards such as travel. You earn points by keeping up your payments and not spending over your credit limit.
Some stories also points in conjunction with these cards; meaning you’ll get more for your money when you shop here with a rewards card. Some even offer cash back; of course, not every purchase will qualify for these rewards.
Of course, you can also sit back and enjoy the free snacks while listening to the campus credit reps pitch – just keep in mind that these representatives will probably not give you the information you need to make a wise decision about student credit cards.
Nick Makaryk is an Internet Publisher, Copywriter, and Founder of Best Credit Cards A Free consumer Credit Card Comparison site helps consumer minded individuals find the perfect credit card while avoiding high interest rates, charges, and no fees. Compare all Low Interest Credit Cards from accredited card issuers Visa, Master Cards, Discover, American Express.
College Student Credit Cards – How to Choose the Best One
There are so many credit cards being offered to college students these days that it may be difficult to choose the right college student credit card. It is important to choose carefully to make sure that you have the best deal and rates available.
The interest rate that a college credit card charges is extremely important to take into account. The fact is that when you make a purchase on a college credit card you are, in effect, borrowing money from the credit card issuer. You must pay a monthly interest rate on this loan unless you pay your balance off in full every month. So, you want to have a college credit card with the lowest annual percentage rate and the longest 0% interest introductory period. The majority of college credit cards will be very similar in these two regards so the next point to consider is the rewards that you receive for using the credit card.
For most students, their college credit cards are the first ‘proper’ credit cards that they will have had and they will not be familiar with the types of rewards that are the best. The three main reward types that are most useful for students are:
* Frequent flyer miles * Cash back * Free gas
Frequent flyer miles are the best rewards to have with a college credit card for students who are attending a college a long distance from home. As you use your college credit card you accumulate frequent flyer miles that you can exchange for flights back home – or wherever you want to go. Unlike airline reward schemes, frequent flyer miles can be used on any participating airline, worldwide.
Cash back on a college credit card is actually a points system. As you spend money these points accumulate against your college credit card and they can be exchanged for cash, gift certificates or special discounts at popular outlets and stores. The amount of cash back that a college credit card awards may seem small but every little helps and you will soon be racking it up.
Free gas when you use your college credit card is the best option for students who have their own car. Gas prices are getting higher and some college credit cards offer rewards to help with the rising cost of motoring with rebates against gas station purchases. These free gas college credit cards also offer discounts and points towards other motoring related items so it is worth comparing the different schemes available
Jordan Dunham is an expert on student loans, visit
http://www.students-loan-consolidation.org/ today for details.
So what is student credit cards really all about? The following article includes some fascinating information about student credit cards–info you can use, not just the old stuff they used to tell you.
If you are student then I am sure you are on a budget, therefore before you apply for a credit card we are going to review a few cards, what the cards offer and how it can lead you into debt. We are also going over a few responsibilities to help you avoid getting in debt later.
The Citi cards are some of the leading cards offered today. Citi Dividend Platinum Select Cards are one of the few cards offered for college students. The card offers a 0% Intro APR up to six months and 5% cash rewards on qualified purchases, including purchases at pharmacies, gas stations, and grocery stores. There are a 0% Liability on fraud purchases and no annual fees. The cardholder will also have free online access to their account.
Truthfully, the only difference between you and student credit cards experts is time. If you’ll invest a little more time in reading, you’ll be that much nearer to expert status when it comes to student credit cards.
College students should be advised that after the trial period has ended, the APR increases. If you have, unpaid balance transfers or debts then the card will apply the new APR to your debts. This will include any charges on cash advances. The Variable Rate will increase after the trail to 16.99%, with the Standard rates being 21.99%. You must be aware that the cards Variable rate is subject to increase to 30.99% on default rates. The finance charges is average being .50, and all purchases in foreign countries will add a 3.0% charge. Transactional fees on ‘cash advances is 3.0%’ and the smallest amount is per charge. Another 3.0% fees are applied to balance transfers, with the smallest charge of and max of .
As you can see this card poses some threats, since if you fail to make your payments on time you will also pay fees, as well as overdraft fees. If you apply for the card and find that you can’t meet the payments then you are subject to loosing your privilege of the card, and subject to poor credit ratings.
With this in mind, you may want to ask your self if you are responsible enough to maintain a stable balance in which you can repay. Are you ready to take on extra bills or do you intend to use the card to payoff your current bills? Is the card used to build your credit, or else to accustom you when the card is needed?
I hope that reading the above student credit cards information was both enjoyable and educational for you. Your learning process should be ongoing–the more you understand about any subject, the more you will be able to share with others students.
Your young adult offspring is heading off to college for the very first time. Chances are she is well equipped with all of her bedding, music,laptop computer, compact refrigerator, and a whole assortment of other items in tow to keep her happy. There is one thing that you may have overlooked, a real help for students and a godsend for parents: a student credit card. Yes, credit cards are an invaluable part of every student’s college experience if used wisely. Let’s take a look at some benefits of giving your son or daughter their very own credit card.
Let’s Buy Books. After paying tuition and boarding costs, it can be easy to overlook another big expense: books. Do you really want your son or daughter to carry around hundreds of dollars in their wallet to pay for books and supplies? Probably not. All college bookstores take student credit cards and with every credit card statement you can easily and accurately track expenses for tax purposes. No need to collect a bunch of receipts either: the proof is on the credit card statement.
Incidental Expenses. Likely, your child enjoys some “cooling off” time especially after completing exams or working on a difficult school project. A credit card can be a good way to pay for a couple of pizzas or provide for a night out at “the game.” In addition, if your son or daughter wants a new pair of jeans or shoes, a student credit card will help them make that purchase.
Life’s Little Emergencies. God forbid, but if your daughter has an emergency and must be rushed to the hospital, in many cases she must show payment information along with her personal identification and medical card before being treated. A student credit card can fast track your daughter to wellness and give her help in a time of crisis. When you cannot be there to help, a student credit card can provide quick access to needed care.
Road Wise. If your student goes off to college and he takes a car with him, how will he and you handle a problem if the car requires maintenance or repairs? Wiring money is aggravating and a hassle especially if the emergency occurs late at night or on a weekend. By equipping your student with a credit card you can get his car running again and give yourself and him plenty of peace of mind.
Yes, you must counsel your child to use their student credit card wisely. By reviewing every credit card statement monthly, you can help your son or daughter show responsibility and achieve financial independence.
Getting your first credit card carries with it a degree of excitement and independence. Not only does it mean that you do not have to carry cash around with you, but you also have the power to “charge it.” A student credit card is often a little different than a regular credit card, and for that reason, there are some pitfalls that you need to be aware of before you apply for yours. Here are some things you need to know in order to get a good one to suit your needs.
In some cases, a student credit card will not require a cosigner, or even a minimum income – but most of them will. Basically there are two different types of student credit cards. One is like a regular credit card, the other is called a secure card.
The secured credit card works like a credit card, but you must deposit an amount equal to at least half of the credit limit – sometimes as much as 150% of it. With some of these there can be excessive fees so be sure to know exactly what is involved before you apply. It is even possible to have it so loaded with up front fees that there is very little to actually charge anything once you get the card. Check out the company carefully, or stick with the ones you are most familiar with.
When you look to get your quality student credit card, be sure to check the interest rate. Typically, these will be higher than a regular credit card. One thing that you need to be especially aware of is what happens if there are late payments or overcharging on the card. First, this could cause your introductory offer to be canceled, and second, it could raise the interest rate on the card to as much as over 28%! So you want to be sure that your student credit card will be handled as correctly as possible.
Rewards offered for purchases made on the credit card will make it even more interesting for you because this is a way to earn discounts, or even free stuff, depending on what type of card that you get. You can choose your student credit card so that you get rewards for different purchases. Most cards will give you from one to three percent on purchases like gas, food and medicine. Other cards will give you points for your purchases of CD’s and DVD’s, movies, electronics, restaurants, and theaters. Again, depending on the card you get, these purchases build points toward the types of purchases you make. Some credit cards will even give you many points each year if you maintain a B average.
Your student credit card may not be the best kind you can get, but it certainly can be a ticket toward getting the kind of credit card you want. After you have it for a while, and use it carefully, making your payments on time and not overcharging it, will show to various agencies that you can control it. With good spending habits it will also build up your credit rating which will enable you to get a much better card later on.
Joe Kenny writes for the Credit Card Guide, offering views on credit cards UK, visit them today for some great 0% credit card offers and start clearing credit card debt today.
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How Students Can Manage Their Student Credit Cards
Surveys prove that many college students graduate with unpaid debts on their student loans which can amount to ,000. Those who are still in college are faced with credit card debts amounting to ,000 or even more. Even worse, there are many at a young age of 15-25 have already filed for bankruptcy. If you’re a student who owns a student credit card, these staggering surveys should definitely concern you. What can you do to avoid falling victim of bad credit?
Here are some valuable tips you can in your personal life as a student to help you manage your finances wisely.
Make a Commitment
Bad credit usually results from splurging or uncontrolled spending. In order to avoid paying for unreasonably high balances, as a student you should have the will to restrain yourself from spending on things that are not really necessary. Every time you plan on buying, ask yourself, “do I really need this or do I just want it?” If you know that you can get by without making that purchase then, have the will to back out.
Pay Cash
Don’t use your credit card on every little thing you need. When you eat outside or go to the movies, don’t charge it on your credit card. You should change your outlook about owning a credit card. It doesn’t give you the leeway to spend on all the things you want. Always keep in mind that you are still responsible in paying back the charges on your credit card.
Budget Your Money
It’s important to have a written plan of your monthly finances. List your exact budget for the entire month and your expenses. Compare the results and you’ll see how you’ve been managing your money in the past. Are your expenses way more than the money you really have? This will be your reality check on how much you’ve been actually charging on you credit card. So what will you do about it?
From now on, you should have a monthly plan where you will list your allowance for the month and all the things that you need to buy. Your expenses should always be less than your monthly allowance. Try to save a portion from your budget which you can keep as your personal emergency fund. This will be the money you will spend on situations when you really need the money urgently. Also, save another portion from your budget which you can spend on perks and personal indulgence. Always take a look at your monthly plan and make sure that you’re not spending out of your limit.
Don’t Rely on Others for Financial Help
Now that you’re old enough to have your own credit card, be a responsible person. Don’t think that you can always rely on your family or your relatives for financial help in case you get stuck in debt. With this mind set, there’s a big tendency that you won’t be taking your finances seriously. As early as now, practice independence. Knowing that you are solely responsible for the debts you owe will keep you aware about your spending habits.
Credit cards for students do not have to be such a bad thing. However, if you notice that you are having problems in keeping up with your balances, then it’s time to change. Consider the above suggestions carefully. They are the key to managing your finances.
Liz Roberts is a loan consultant with NewHorizon Finance and has been providing consumers and business owners with financing since 1989. For years she has written credit repair articles and now specializes on providing student credit card articles that would help build student credit.
Understanding Benefits And Dangers Of A Student Credit Card
The very idea of having a credit card yourself is enough a reason for sending shivers up you spine, let alone the thought of handing one over to your new college going son or daughter! You must have heard a lot from one group stating how beneficial having a credit card might prove to you and another group discouraging you to avail a credit card and stating its evils. The world of credit cards is undoubtedly filled with several hearsays and, to be honest, several may turn true. However, you can reap only the benefits of a credit card if you are equipped with the knowledge of how a credit card can harm your finance, by checking them at the very grass root level.
This becomes even more difficult while you are trying to decide on or not to give your ward a credit card guardian, and if yes, which one should be the best suited. Whichever you take and whatever you intend to do with your credit card, make sure you keep certain very crucial aspects in mind regarding the management of your credit card, especially when it concerns a new college goer. Know and understand the various benefits and dangers of student credit cards and the ways you can use it judiciously, in order to avoid any bad credit reputation, various hassles aside.
Being a high school or a college student is not easy. Especially with the increasing pace of extra curricular activities and various fees for additional curricular support needs a lot of resource for your behalf as well as your child’s behalf. These are only obvious for any student’s growth and for the successful completion of studies. Moreover, you cannot prepare yourself beforehand for these little expenses. Here the validity of having a credit card for students is nothing less than obvious. If your daughter or son has a credit card, these last minute problems will cease to be problems altogether.
You will also receive a statement for credit card, with which you will be able to assess the expenditure of your ward and check for yourself for what and when your ward is spending money. This is only possible with plastic and not otherwise. The plastic will also help you teach your daughter or son that there is nothing called free money, and that the money they spend needs to be repaid.
There will be many a companies offering you a student credit card for your ward. Their interest rates are likely to be higher than what your credit card claims. Do not be alarmed, but be assured that the card issuer is undertaking huge risks at allowing your ward hold plastic money. Besides the issuer’s risk, it also involves you. Be very vocal and clear about explaining what the card is for to your ward. Explicate to them what they should do with the card and what not, or it will be you who will have to suffer for the previous night’s hangout, which your son or daughter had financed.
Make them learn to save money and keep the card reserve for emergency uses. Teach them to pay their bills regularly and acquaint them with how the credit industry works, all about bad credit histories and how these can harm them in the future. Judicious use of credit cards is always recommendable. Provided the same, a student credit card is no lee than a blessing in plastic form. Manage your money well and teach your son or daughter money values. Remember, education does not cease at college – it is way beyond!
Tom Tessin is an author for FINDcollegecards.com that focuses on students looking for a Student Credit Card
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Student Credit Cards ? Help Them Stay Your Friends
Throughout college years, student credit cards help you not only feel secure about your financial resources, but also feel in safe hands to what concerns the establishment of your credit. Credit cards render the purchase of an amazing number of articles extremely simple. Rather than having to do awkwardly with ready money stashed in your case or some other holder for hard cash, or rather than having to waste a while counting the cash, you can opt for a credit card that will turn each operation that you need money for into the simplest task that you can imagine.
In addition, if it happens for you to be short of money and find it urgent to pay for something essential – who knows, maybe you have had an accident or you have to buy some school materials that are rather expensive, but vital for your studies – a student loan may cross your mind as a viable solution. Well, you can have such a form of student loan in student credit cards, which will make every imperative payment possible without complications.
However, you need to keep in mind that a student loan will not be a viable solution as long as you do not make the payments in good time. Moreover, you need to weigh carefully which situations are urgent that should require the need for a student loan. For instance, “an absolutely-must-have skirt” or “oh-my-god-have-you-seen-that-discount purse” situations do not qualify as crises, i.e. situations that need some over-the-limit borrowed sum from student credit cards.
In other words, you get to build a reliable credit and to have a reliable basis in extreme situations that call for urgent financial support with a simple plastic helper. The single condition is that you perform the necessary payments promptly. In this manner, after you have had your graduation done and over with, you will be able to begin in full trust your credit experience, as you will already have a nice credit built throughout college years.
Of course, the number one recommendation is for you – and everyone else, for that matter – to keep away from debt. No one likes to deal with balance due situations that knock annoyingly on your door in the most inappropriate times. However, even as a student, you might find the notion of student loan extremely helpful when materialized in the money you needed so much to get over a difficult moment – maybe even paying for some course.
In addition, student credit cards will make it possible for you to make purchases even over the Internet. Thus, if something you need urgently is available online, you will be able to pay for it immediately with your credit card. Now you might wonder about how difficult it is to acquire such a credit card. Actually, this is very simple. An application form and its careful filling in should be enough.
On the other hand, what now looks like the El Dorado of credit cards could turn into your worst enemy if you do not pay attention to the terms of credit card approval and use. This happens most of the times because payment terms are evaded or delayed – which only determines penalties. In the end, caution is one’s best friend in any loan circumstances.
College years may call many times for student loan situations. Student credit cards will be your best assistants in such matters, as long as you are careful about the amounts spent and about the payment time.
Students, parents face raft of decisions Edmonton Journal Of course we could upgrade it to a student credit card, charging regular credit-card interest rates of 18.5 per cent. We passed on the credit card, ...
Thinking Outside the Stocks Wall Street Journal ... reducing the chances of getting stuck with the bill if a student drops out and skips town. Some owners even require a parent's credit-card number. ...
Two held for procuring credit cards at fake addresses IBNLive.com PTI | 07:09 PM,Sep 03,2010 New Delhi, Sep 3 (PTI) Two youths, who allegedly procured credit cards including one of a senior Intelligence Bureau (IB) ...
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