Building Credit for Students
Tips to help college students build their credit reports and continue their education.
How to Smartly Use Your Student Credit Card for a Holiday Trip
0183 days
For many people, the holidays is often a time to go unwind, to go on a vacation, or visit relatives who reside overseas. Are you a student who lives at a boarding school, far away from your family? If yes, then you are certainly preparing to come home and spend the holidays with your loved ones.
In this article, let’s focus on how you can use your student credit card to your advantage if you’re going on a holiday trip this year:
Get rewarded. Does your student credit card offer travel rewards or cash back incentives? If yes, be sure that you will earn points for every dollar you spent on travel expenses. This is a good time to review the terms and conditions of your issuer. Find out which airlines, hotels, and car rental companies are affiliated with your card as this will enable you to earn more points from your charges. (more…)
The College Student’s Frugal Spending Guide This Holiday
1185 days
It’s the holidays once again and students are not exempted from spending. Students who have their own credit cards need to be more cautious about their spending habits. Charging too many holiday expenses to your student credit card will not just be bad for your pockets, it will be bad for your credit score.
On this post, we present the college student’s guide spending to frugal spending and smart credit card use this holiday season:
Create gifts. Instead of just buying something from a shop, why not make the gifts yourself and show your artistic side. A handmade gift you made yourself will be more special because you spent time and effort making it. You can also customize the item to make it really suited for the person you plan to give it to. (more…)
The Student’s Checklist to Buying with a Credit Card Safely
0190 days
Many students have their own credit cards which they use primarily for building credit. Before using your student credit card to buy from a shop or an online store, what things should you remember? Listed below is a checklist for students on how to buy with a credit card safely:
1. Check your issuer and the merchant’s policy. You should understand the merchant’s policy on refund and returns before purchasing, especially when shopping online. As a student credit cardholder, you should also be aware about the purchase protection services provided by your issuer. While most shops offer a 30-day refund, you might be able to return a product even after the merchant’s return guarantee has expired if you used a credit card to make the purchase. (more…)
Holiday Spending Tips for College Students
0192 days
The holiday season is a merry time for everyone. For college students the months of November to December are filled with festivities, parties, and best of all school-break. College students excitedly prepare for these occasions, to enjoy time with friends and family.
If you’re a student, are you ready to face the holidays? What about your wallet? On this post, we present holiday spending tips on how you can enjoy the celebrations without the guilt and stress brought about by bad debt.
Get a part-time job. Have you thought about getting a part-time job this holiday? The money you will earn can help you fund your expenses instead of taking out from your savings or charging purchases to credit. Many retails shops and restaurants are hiring during the holiday seasons so getting hired should not be difficult at all. (more…)
How to Get A Bad Credit Student Car Loan
0197 days
If you are a college student in need of a car loan, what are the things you should consider to make sure that you can get the best deal? What if you have bad credit? Can you still qualify for a car loan? If yes, what can you do to avoid being ripped-off by bad credit loan lenders who may try to take advantage of you? On this post, let us answer these questions one by one.
Do You Really Need a Car Loan?
Do you really need to drive your own car at this time? Before applying for an auto loan, consider your situation carefully. Will it be better if you move to a boarding school so you can be near the campus? . Don’t forget that aside from your car loan payments, maintaining a car is not cheap as well. Gas purchases and repair fees can prove to be costly too. This is why you should compare the costs involved before taking out a loan. (more…)
How to Acquire an Affordable Student Car Loan
0200 days
Before signing up that student car loan application, here are ten points you should seriously ponder:
1. Buy a used car. The thought of driving a shiny, new car can be wonderful but as a college student, you have other more important priorities other than paying off your car loan. Buying a used car can save you a lot of money as long as you can choose one that is still in good condition. Furthermore, make sure that the car has not been stolen. (more…)
Tips on How to Get a Student Car Loan More Easily
0204 days
When you’re a student, acquiring a car loan can be difficult. Nevertheless, it does not need to be an impossible task. On this post, let us consider some tips on how you can get a student car loan more easily.
Build good credit. Even students can establish early credit history and build good credit. How? One way is to apply for a student credit card. By using your student card regularly and paying off your balances on time, you will be able to build good credit. Car loan lenders will surely approve your appli
cation more easily if you have started building your personal credit while in college. (more…)
How to Refinance Your Student Car Loan
0207 days
If you acquired a student car loan with a high rate of interest, refinancing is a smart way to reduce the cost of your repayment. Refinancing is just like taking out a second loan, but with a much lower rate than the first. If you have been paying your car loan for the last six or 12 months, check your credit report to see if your credit score has improved and if refinancing is an option.
Why Refinance Your Car Loan
Some people think that loan refinancing only applies to mortgages. However, home loans are not the only type loans which can be refinanced. Even a bad credit car loan borrower can benefit from refinancing if the timing is right.
Keep in mind that the length of repayment period is much shorter for a car loan than a mortgage. A typical auto loan repayment term can be 2 to 3 years. Refinancing your car loan would extend the repayment period. Therefore, if you’re already half-way through the repayment of your car loan, then it may be better to continue until your loan is completely paid than to refinance. On the other hand, if you still have at least two years left to complete your auto loan payment, refinancing it now can enable you to save a great deal on interest rate fees. (more…)
How to Get a Co-signer for a Bad Credit Student Car Loan
0211 days
If you are student in need of a bad credit car loan, finding a good deal can prove to be a big challenge. Many lending companies prefer customers with good credit so customers with an unimpressive rating can be declined. However, there is a way to improve your chance of getting an approval. How so? On this post, let’s take a look at some tips that can help you if you need a co-signer to get approved for a student car loans.
A co-signer must have good credit. Needless to say, the person who will be providing a guarantee should credit-worthy in the eyes of lenders. Some lenders are looking for co-signers with a FICO score of at least 700 or above. This is because a higher credit score is a good indicator that the individual is capable of managing debt and credit. If your parent or guardian has an excellent credit score, then he/she is the perfect candidate to co-sign your student car loan. (more…)
Car Loan Tips for College Students
0213 days
Many young people buy their first car while in college. Sometimes, driving your own car is a more viable option rather than move in to a boarding home near the campus. Do you need to get a car? If so, consider the following tips on how you can get approved for a student car loan.
Be prepared for the responsibilities. Acquiring a car loan from a bank or lending company is a serious responsibility. If you fail to keep up with the lender’s repayment terms, you could be subjected to pay penalty fees. Needless to say, you want to avoid falling into bad debt because you weren’t able to make your car loan payments on time. (more…)
