Credit card basics
"Which bank's credit card do you have?", "what is its credit limit", "what type of card is it"...such questions are on everybody's lips today. The world seems to have been squeezed and wrapped into a credit card. Nowadays everybody speaks and grasps...
Credit Report And Correction Techniques
The three major credit bureaus, Experian, Equifax and Trans Union are similar and feature a "Credit Score", which is created from credit report data submitted to them about you. Their report includes where you live, your bill-paying habits, and...
How To Get The Best Rates On Your Current Credit Cards
How to Get the Best Rates on Your Current Credit Cards
So you've got a few credit cards, and you're quite happy with them overall. Still, wouldn't it be nice to save a little money on interest? It all adds up over time, and more quickly than...
Ready, Set, Credit!
A credit card is a great financial tool. It can be more convenient to use and carry than cash and it offers valuable consumer protections under federal law.
At the same time, it's a big responsibility. If you don't use it carefully, you may owe...
Tips For Getting Your First Credit Card
Most of us get a credit card on our name when we go to college or when we are in our senior years of high school and all of us stumble into the same types of difficulties when it comes to finding an issuer and managing the credit card. Most banks...
What Sets a Student Credit Card Apart?
Today, most parents contend that it is okay to let college
students obtain their very own credit card. Not only because
they want to let their kids manage their finances alone but also
because having credit cards or a credit history for that matter
is extremely important.
With the advent of credit cards, most people would always be
looking into someone's credit history before they can approve
anything.
They even insist that without a credit history, people tend to
become a total outcast in the society, someone who is not worthy
to enjoy anything and everything without a credit history. That
is why most college students would struggle just to get one.
But what makes the student credit card different from the other
credit card? Why is it that it is highly classified as "student
credit card," and not just any credit cards for that matter?
Basically, student credit cards do not make such big difference
as compared to the other types of credit cards. However, because
it is a student credit card, the benefits stated therein are
completely focused on providing the student's their basic needs.
Moreover, student credit cards are entitled to lower interest
rates especially for students who have good grades. They can
negotiate their interest rates for a lower rate provided that
they pay their
balance dues on time and that they maintain good
grades.
On the other hand, student's credit cards are actually secured
credit cards. But the difference that sets the students credit
card apart from the other credit cards is that their parents can
set the credit limit.
Also, parents can let their child's credit card to hook up with
them so that they can keep track on their child's credit
transactions.
Another thing that sets the student cards apart from the other
credit cards is that the student credit cards are mainly focused
on and quoted for students only considering the fact that they
have limited credit history.
Normally, student credit cards have no annual fees and have
credit limits that are only set to $500. And according to some
surveys of financial institutions, the average student credit
card annual percentage rate is 17.66% for purchases and 19.67%
for cash advances.
So, even if student credit cards are different from the other
credit cards because of its considerable interest rates, it is
still a credit card. Thus, students must really be responsible
in handling them; otherwise, they are bound to suffer bad credit
history in the end.
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