jstbrennan的部落格

UNDERSTANDING STUDENT CREDIT CARDS

Utilizing a credit card while in school offers many advantages. Finding the
best credit card for your needs is not the simplest thing to do. Detailed in
this article is information that will aid you in selecting the best student
credit cards.

Different Types of Available Credit Cards for Students

Individuals with decent credit should submit an application for a regular,
unsecured credit card. If you have no credit, or bad credit, a secured
credit card is more appropriate. A secured card will require you to leave a
deposit that is approximately the same amount as the card's available limit.
Interest rates associated with these credit card types are higher. These types
of cards also have high annual fees. However, once you exhibit a positive credit
history with your secured card, you should apply for an unsecured offer with low
interest rates and no annual fees.

Familiarize Yourself With All of the Interest Rates and Terms Before You Apply!

There is nothing you can do to avoid paying interest rates. Every credit
card has one. That is how the card issuers make most of their money. However, it
is very common for credit cards to have an introductory rate with a 0% interst
rate for the first 3-15 months of membership. It is important to understand that
if you miss a payment, or are even late, you will lose the introductory rate
offer. Usually, interest rates for student credit card offers are between 7-20%.
There are also annual fees and costs associated with student cards.

**Comparing the fees and interest rates of several different card offers before
you apply is a good idea.

Look for Credit Cards with Rewards!

Most student credit cards have some sort of reward tied to them. The reward
offers are quire different for the different card offers, ranging from discounts
on book and clothes, free movie tickets and rentals, DVD's and CD's. There also
cards that offer cash back as an incentive. Also, nowadays you can even earn
points from your purchases that can be used for buying a new car!

You will usually earn one point for every dollar charged with your credit card.
You will likely earn different reward rates for the different types of purchases
you make. Meaning, you will always earn at least one point for every dollar
spent, but you can also earn as many as five more points for the different
purchases you make.

Be Rewarded for Good Grades!

It has become common practice by credit card issuers to offer rewards to
students for their good grades. Suppose you maintain a B average, you will be
rewarded 2,500 points for that semester! So if you maintain a B average for the
year, you will earn an additional 5,000 points!

Student Credit Cards Help Build Credit!

Most of the student credit card offers available are specifically designed
to help develop a positive credit rating. In order to accomplish this, you must
use your credit card wisely and pay your bill on time every month!