Archive for March, 2009

Common Questions on student credit cards

Entering college is often a time for new things. For students, this is their time to gain more independence in all aspects of life including financial independence. Have you thought about applying for a student credit card? If you haven’t this may be the best time to do so.

College credit cards give students the chance to open their own accounts without the need for a co-signer. This is the only time you can get approved for a non-secured credit card despite not having credit history. By the time you graduate, it would be a lot more difficult to get approved for a best deal credit card with no credit history to back you up. Read more…

Questions in Choosing a Student Credit Card

Are you thinking about getting a credit card for college? If yes, this article was written for you. Let’s talk about important questions that you should find the answers to before submitting that student credit card application.

It offers 0% APR- a great deal, right?

Of course, you’ll want to get a credit card with a low interest rate. But it’s important to understand that a low APR alone doesn’t make a good credit card. Aside from a low rate, make sure that you’re clear about the terms and conditions. For instance, how long will the low APR last? Is it just an introductory offer? How much will the regular rate be after the promo period? These are more important questions that you should ask when it comes to the rate of interest. Read more…

Help Your Student Find the Right College Credit Card

Are you a parent or a guardian of a student going to college? Have you considered getting a college credit card for your child? This article tackles valuable tips on how you can help your student choose the right credit card and avoid falling into the debt trap.

Choosing the Right College Student Credit Card

Look for a student credit card with low interest. A credit card with a low APR can save your student from the risk of debt accumulation. In case, he or she needs to carry over a balance, having a low rate card will certainly be a big help. Read more…

Parents and Student Credit Cards

The idea of providing college credit cards to their kids may intimidate some parents. As cases of credit card debt increase among students, some people think that the best way to avoid debt is to skip getting a credit card. But applying for a student credit card can also be beneficial.

If you are a parent of a college student, here are some tips on how you can help your child use his/her student credit card the smart way:

Help them choose wisely. Making the right credit card choice is crucial. Students should never sign up for the first good offer. As a parent, help your child understand the importance of doing research. You can read credit card reviews online with your kids. Do comparisons together. Analyze the credit card’s Terms and Conditions with your kids and explain to them the specific factors they need to consider about student credit cards. Read more…

Establishing Credit is Only the First Step

If you’re trying to establish credit history for the first time, this article is for you. Here are ways on how you can start your personal credit history without getting denied:

Open a checking account. Your credit score would not be required to open a checking account. Although this will not be reported to the credit bureaus, it can help you get approved for your other credit applications.

Employment history. Having a solid employment history can also get you the approval you need. Many short term lending companies require only that the applicant has a steady source of income to be approved. Read more…