Myth#1 It’s an easy, effortless way of learning.

This belief may came from the fact that online students can study at the comfort of their homes and are given the option to choose their own study schedule. Nonetheless, online education still requires a student’s commitment and dedication to learning just like in a traditional classroom setting.

While you don’t have to personally go to school to attend classes, you still need to be on prompt and be focused on the lesson at hand. As a student, it is your responsibility to conduct further research, review your lessons, be active in class and submit your reports on time.

Myth#2 You can earn your degree more quickly.

The statement above will largely depend on the student’s ability to learn and capability to put his/her learnings into practice. The truth about online education is that you can learn at your own pace.

You may choose to study while at home, in your office or while out on a trip. If you are a fast learner and focused on your studies, then you can graduate at a much sooner time than it would take you in a regular school.

Myth#3 Continuing education online is not effective.

Some people may worry that virtual classes will not be as efficient as face-to-face interaction. Nevertheless, researches have proven that online education can be just as effective as traditional schooling, as long as the student works hand in hand with the instructors.

In response to the growing demand for online education, universities and institutes offering online courses are striving to enhance their system of teaching and communications.

Many graduates of online degree programs and online vocational courses have successfully landed their dream jobs in different trades and industries. Ultimately, it will all depend on how the student responds to the learning process.

If you are a student who owns a credit card, you are at a greater risk. Take a look at the following tips on how you can defend yourself:

Check your credit card statements. Check your monthly credit card statements to make sure that there are no unauthorized charges. If you find unfamiliar transactions, do not hesitate to inform your credit card issuer right away. As a consumer and cardholder, you have the right to dispute unauthorized charges.

Know where to call. If your credit card gets lost or stolen, you must call your issuer immediately so that your account can be blocked against unauthorized users. It’s best to write down the telephone number of your issuer’s customer hotline where you can access it instantly in case you need to.

Make sure that your records are updated. If you changed your address, inform your credit card company immediately. If you do not receive your credit card bill on time, call up your issuer and verify if they have the correct billing address in their records. ID thieves may request for a change in the billing address in an attempt to delay your awareness about their fraudulent transactions.

Protect your banking information. Be very cautious when giving out your bank account or credit card information. Identity thieves use different tactics to steal personal information. You may receive an email or a phone call asking you to “verify” your account by providing confidential details. Keep in mind that a legitimate bank or credit card issuer will never verify customer information in this manner.

Check your credit report. Once every six months, order a copy of your credit report from each of the three major credit bureaus (Experian, Equifax, TransUnion). Doing so will enable you to evaluate all your accounts and ensure that all information in your file are correct. Sometimes, you may find errors in your file and you must request for correction from the bureau that issued your report.

Shred financial documents. Don’t throw away any piece of paper that contains your personal and banking information without first shredding it into small pieces. ID thieves do search trash bins to steal precious information and many have been victimized in this way.

Read the fine print. Before signing up a deal, whether it’s a new student credit card or a student loan, see to it that you have read and understood the complete terms and conditions. Don’t just scan the page. You’ll want to make sure that everything has been disclosed in the agreement.

Check the issuer’s background and reputation. Not all credit cards for students advertised in the market are issued by legitimate companies. You may come across credit card offers from fraudulent sources. To avoid being a victim, be sure to do your own investigation regarding the background and legitimacy of the issuer.

So if you plan to apply for a student credit card, see to it that you are aware of the responsibilities involved in managing credit. Certainly, owning a credit card isn’t just about spending. Get informed. Don’t be afraid to ask advice from people who have built themselves good credit.

In your search, you’ll come across different credit card offers from varying issuers. The fact is, many issuers focus their marketing strategies on students. Credit card companies dote on students since they are most likely to stick with their first credit card even after college graduation.

When comparing offers, it’s very important to know what you’re looking for. The advertisements can be misleading. For example, some issuers offer zero introductory rate which can be very enticing for someone in need of a credit card. However, just because you can enjoy 0% APR for a few months does not guarantee a great deal. Before signing up, check the rest of the fees associated with the credit card. You’ll want to make sure that you will not be subjected to unreasonable penalty charges or hidden fees later on.

What about student credit cards with rewards? You can find a wide variety of rewards credit cards for students in the market. The question is, which one should you choose? Before you make a decision, seriously consider your lifestyle and spending needs.

Will you be using your student credit card on a regular basis, perhaps using it to purchase your personal supplies each month? Or do you plan to reserve your student credit card for an emergency? If you don’t intend to use your credit card that often, perhaps a regular card with a low rate is a better choice. It will be very difficult to earn rewards unless you use your credit card for purchases.

Another thing to consider is your repayment strategy. If you can pay your monthly balance in full consistently, then you may consider getting a student rewards credit card. ON the other hand, if you see yourself carrying a balance in your account from time to time, a safer choice would be a non-rewards card with a reasonable interest rate. The reason is because reward credit cards are known to carry much higher rates and fees than their non-reward counterparts.

Does the issuer of the student credit card report to the three major credit bureaus? Keep in mind that one of the most important benefits you can get from using a student rewards card is to build your personal credit history. Nevertheless, you won’t be able to build credit history if your payments won’t be reported. Take note that not all credit cards for students advertised in the market offer credit reporting to the major credit bureaus.

Using a credit card while in college can actually bring a lot of benefits. To reap these benefits however, a student credit cardholder must learn how to use his/her account responsibly. Listed below are reasons why students must consider getting a credit card:

1. Establish and build early credit history.

Building early credit history is a solid proof of creditworthiness. In fact, length of credit history makes up 10% of your total credit score. As a student, you are presented with a lot of opportunities to get a credit card with a good deal. This is the only time you can acquire an unsecured credit card despite the absence of credit history.

1. Firsthand training in credit and repayment.

Experience is the best teacher. Through guidance from parents or guardians, students can avoid the risks associated with wrong credit card use as they are given the chance to manage their own account. By the time a student graduates from college, he/she will be more equipped in managing personal finance.

1. A student credit card serves as a financial cushion.

Having a student credit card can come in handy when emergency expenses arise and cash is not readily available. Of course, this does not justify the use of credit card on unplanned or unimportant purchases. On the contrary, a credit card can provide the much-needed support that a student needs during tough times.

1. A safer way of payment.

Although the risks cannot be completely eliminated, a credit card can be considered as a safer method of payment than cash. Carrying cash can be a hassle and can be stolen right away. On the contrary, in case your student credit card gets lost or stolen, you can call up your issuer to have the account blocked against unauthorized use.

1. Preparation for the future.

If you can establish early credit history and keep your credit rating in an excellent standing, you will surely enjoy even more advantages. First, you can get access to better loan deals if you need to apply for loans (car loan, personal loan) later on. You can request your student loan lenders for a reduced rate of interest if you can show an impressive credit history.

In fact, lenders are not the only ones who are interested about your personal credit. Even landlords and rental companies may strictly require good credit. If you have solid credit, you can choose any place you want and you can get approved as a tenant more easily.

Many companies conduct pre-employment credit screening to check a candidate’s credibility and background. Pre-employment credit check is to be expected especially for accountants and other positions that involve the direct handling of money. If you have an excellent credit standing, you will surely gain an edge over your competitors.

Credit cards vary. Not all credit cards are the same. Some are especially designed for people with good credit while others are intended for people who need to repair their bad credit. Some credit cards offer rewards while others do not.

When it comes to reward credit cards, programs also vary depending on the type of reward it offers. The most popular reward credit cards that you may come across are cash back, airline miles, and gas rewards. When in search for a credit card, don’t just make a decision based on how attractive the deal is. Consider carefully if the credit card complements your lifestyle and needs.

A low rate is better. When comparing credit cards, you’ll want to look for the one with the most reasonable rate of interest. Although you can avoid interest rate charges by paying your monthly balance in full, a low rate card is always the safest choice.

Credit card features are important. Aside from the interest rate, you’ll also want to evaluate the specific features and services of a credit card. Will you be able to pay your charges online or over the phone?

Online and telephone banking are special provisions that you can use to avoid late payments. Can you rely on reliable support at any time? Remember, the features will vary from one card to another so you’ll want to find the one that will help you maintain good credit.

Fees can be a burden. A credit card may boast of a low rate but if it carries expensive fees for different transactions, then it can be a burden. For instance, how much do you need to pay every year to keep your account active?

Some credit cards carry very expensive annual fees ranging from $80 to as much as $100 or higher. Late penalty fees, over-the-limit fees, and balance transfer fees are just some of the costs you should watch out.

Build credit with your student credit card. One of the most important benefits you can enjoy from using a student credit card is the opportunity to establish early credit history and maintain your good credit standing.

But this can only be possible if your student credit card accurately reports your payments to the three major credit bureaus (Experian, Equifax, TransUnion). Remember, not all student credit cards offer credit reporting. When doing comparison, you should be very particular about this provision.

Know the Credit CARD Law. Certain provisions in the Credit CARD law can protect you from bad credit. However, you need to be aware of your rights and limitations as a cardholder.

Applying for a credit card today is a lot simpler. Most issuers offer an online application feature so all you need to do is fill out an online application, click submit , and get a response to your application within minutes. However, students should be cautious when filling credit card applications. Here are pointers that you should consider before signing up for a student credit card.

Pointers to Consider when Signing up for your First Credit Card

Are you old enough to apply on your own? There are student credit cards that do not require a co-signer but there are some who does especially for those below 18 years old. If you need a co-signer, the best person to ask is your parent or guardian.

Do you really understand the Terms and Conditions? The best rates and low fees that are advertised may be subjected to certain conditions. Take time in reading the fine print to make sure that you are in agreement with the credit card company’s conditions.

When should you use your student credit card? Getting approved for a student credit card is fairly easy. IT is managing your credit card account that is the more challenging part. Unfortunately, some youngsters weren’t able to exercise control over their credit card use. This often resulted to bad credit or bad debt. As a college credit cardholder, you should be aware of your responsibilities to your issuer especially with regards to repayment.

Are you ready to be a credit card holder? Another thing to consider is how you plan to pay off your credit card charges. Will your parents help you with the payment or will you be entirely on your own in paying off your charges? Before charging any purchase or bill to your account, consider your plan of repayment.

Are you aware of how your credit card use affects your credit history? Students are encouraged to apply for a student credit card to build a solid credit history. But this can only happen if you can use your card responsibility. Delays in payments, exceeding your credit limit, paying only the minimum required due- these are all habits that can have a negative effect in your credit history. So before you go and use that card, consider how it will affect your personal credit.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit cards articles that would help build student credit.
Copyright 2009

Most Important Factors When Choosing the best Credit card for Students

Interest Rates and Fees

The APR is the additional cost that a cardholder pays each time he/she carries a balance for the next month. Needless to say, you’ll be better off with a low interest rate credit card. As a cardholder, do your best to pay off your monthly balances in full to avoid the APR.

However, there may be instances when you can’t pay off your whole credit card balance. This is why, a student credit card with a low APR is a smart choice. But take note that the interest rate isn’t the only thing you should be concerned about. Aside from a reasonable interest rate, you should make sure that the rest of the fees are just as reasonable.

Looking at the ads will not tell you everything you need to know about a credit card. To learn about the real interest rate, how the APR is calculated, and the other fees associated with your student credit card, you should read each and every statement in the contract.

Grace Period

The grace period is the length of time that the cardholder is allowed to pay back the charges without incurring the additional interest rate cost or APR. Most credit cards for students allow a 25-day to 30-day grace period.

It is crucial to get a student credit card with a sufficient grace period to protect yourself from the risk of bad credit. Bear in mind that not all credit cards for students provide ample grace period so it is up to you to find a credit card that does.

Low Credit Limit

A student credit card usually has a low credit limit, to the dismay of many young people. But in fact, having a low credit limit is a good way to start learning about correct credit card use. Although a credit card with a higher credit limit gives you more freedom to spend more, it also puts you at a greater risk of falling in the debt trap.

First time cardholders like students are recommended to get a credit with a lower credit line. Use your credit limit wisely and charge only important expenses to your student credit card. More importantly, see to it that you will able to pay back your charges on time to avoid bad credit.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit cards articles that would help build student credit.
Copyright 2009

Students and Secured Credit Cards

Secured credit cards on the other hand are designed for people with bad credit history or no credit history. Thus, even with the absence of credit history or despite suffering from a low credit score, a person can still acquire a secured credit card. Secured credit cards can be used to improve bad credit history.

What makes secured credit cards different from regular credit cards? Unlike standard cards secured cards require its holder to submit in advance a security deposit which amounts to at least 100% to 200% of the cardholder’s desired credit limit. Let’s say for instance that you need a minimum credit limit of $500, then that means you need to submit at least $500 security deposit to your account to enjoy your desired credit limit.

Parents who want to give their college kids with a credit card account may also consider providing them with a secured credit card. This way, a parent can exercise control or put a limit to the student’s spending. Such a limit can protect a credit card holder from the risk of uncontrolled spending which may lead to bad debt.

Giving a student a credit can be a good training ground when it comes to handling finances. Needless to say, young people still needs support and advice from parents or responsible adults. If you are a parent, you can make a big difference in helping a student stay away from debt problems.

Both secured credit cards and student credit cards are used for establishing credit history. IT is important however to choose a card that will report your payments to the major credit bureaus. Take note that despite the claims to be a secured credit card or a student credit card, there are credit card issuers who do not offer the credit reporting feature.

Remember that the only way you can build your personal credit history is if your creditor reports your payments to consumer credit reporting agencies. Last but not the least, you can only build good credit history if you use your credit card the smart away and avoid unpaid charges. Timely submission of payment is crucial in maintaining an impressive personal credit.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit cards articles that would help build student credit.
Copyright 2009

Student Credit Cards Can Be Good Or Bad

Having a student credit card can work to your advantage or disadvantage – depending on how you manage it. Sure, applying for a college card is easy despite your lack of personal credit history. In fact, these cards are your stepping stones toward rebuilding your personal credit. However, let’s not forget the risks associated with having a credit card.

Have you checked the interest rates and fees of the card? Are you aware of exactly how much it will cost you to maintain your college credit card? Indeed, getting an approval is quick and easy. But it’s in the choosing that you’ll want to spend more time with.

Surprisingly, there are credit cards for students that offer a very low APR to attract customers. But to which of your charges is the low interest rate applicable? Take note that there are credit cards with more than one APR. The low rate may either apply to either your balance transfer charges or purchases only. It is also important to make sure that the initial low APR isn’t subject to change any time after you signed up your contract.

Thus, the best way to compare credit cards is to examine the Terms and Conditions. Here, you should be able to learn about the exact fees and terms of the card right from the beginning. Failing to review the agreement may lead you to get the wrong student credit card.

Watch out that student credit card!

Enjoying the benefits from a student credit card greatly relies on your personal management. Use your card only for important purchases. Make sure that you can pay off your balances in full before your scheduled due date. This way, you can avoid the additional interest rate costs and keep your credit history in good standing.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit cards articles that would help build student credit.
Copyright 2009