Archive for January, 2009

Student Credit Cards and Co-signing

When co-signing for a college student’s credit card, what important pointers should you remember? In this article, let’s discuss some tips for those who are planning to co-sign for a friend, a child, or a relative.

How Co-signing Can Affect Your Credit Score

By agreeing to co-sign for a student credit card, you accept the accountability of repayment in case the student defaults or fails to keep up with his/her payments. As a co-signer, how the student credit card holder handles his/her account can also affect your own credit history. Consequently, if the student is frequently late in submitting payments to his student credit card or if he/she has incurred an exceptionally large balance in her account, your own credit score can also drop by a few points. Read more…

Tips In Applying For Student Credit Cards

Applying for a student credit card can be a good move to build your credit history. However, signing up for the wrong card could put you in trouble. Many young people have found themselves stuck in the wrong credit card just because they didn’t take time studying their options. Here are tips that you must remember when applying for a college credit card:

Study your choices. We cannot overemphasize the importance of shopping around. Don’t sign up for a card based on its best features. Analyze all costs and fees associated with it and compare one student credit card to the next to find the right one. Read more…