How To Select A Student Credit Card
How To Select A Student Credit Card
How To Select A Student Credit Card
Student Credit Card Application Stands Wherever You Go
As a college student you will in all probability run into a lot of people at stands that are running credit card offers giving out free shirts, pens or frisbees. You think to yourself "Why not?" as it would be a huge convenience to be able to get one.
But a lot of students fill out these forms without looking at the fine print in the terms and conditions of the card agreement. Credit cards are financial tools but you have got to apply for the right ones otherwise you may be digging yourself into a hole of debt that you will have trouble getting out of.
Check The Regular Credit Card APR
The credit card, along with the free t-shirt or water bottle is marketed to unknowing students as 0% introductory APR telling you that there is no interest charged for a certain period of time. What you need to know is the APR or interest rate after the introductory APR is over which can be 6 months to a year.
Credit card issuers setup these types of tables all over campus pulling your interest with free, useless goodies to get you to sign up for a card that can pull you more into debt later.
By going online to compare credit card rates you put yourself in a much better position than other students who blindly go for freebies. Comparing credit cards is crucial during the credit card apply process. There can can see the intro rate along with the regular interest rate after that and additional details that will help anyone make a better decision on a new credit card.
These Benefits Make Credit Cards Even Better
By taking your search to compare credit cards online you will have a huge list of credit cards to choose and apply for. All the details laid out for each card along with additional benefits that they may offer.
Many credit cards nowadays also have a points system or a rewards program which gives users the ability to rack up points to trade for gift certificates or other perks whenever they use their card.
More Than One Credit Card?
You can have additional cards to use for specific situations to take advantage of these perks. Also make sure to keep the contact information to the credit card company in a safe place in case you lose your credit card. Call the credit card company as soon as you can when something happens to your credit card. You most likely will not be charged for purchases not made by you. The company will issue a new credit card to you immediately.
Depending On The Credit Card You May Need To Pay A Fee Each Year
Also keep in mind that some credit cards have annual fees that you must pay just to use the card. The cards with yearly charges may have additional benefits that set them apart from other credit cards on the market.
As a student it may be wise to apply for credit cards that do not have the annual fees.
Stay Disciplined With Your Credit Cards
Having a credit card will open up options that weren't available to you before such as renting a car, booking a hotel room, reserving a flight. Once you apply for and receive your new credit card do not allow your spending to get out of control. You have got to stay disciplined in how much you spend and keep track of it.
It will be exciting to have a new credit line extended to you but be careful not to get to used to swiping that card everywhere you go. It is not free money, it adds up and you will have to pay it back.
Do Not Be Late On Paying Your Credit Card Bill
Your credit history is like a report card and if you pay your credit card bill late even one time it shows a negative record on your account. Your annual percentage rate or interest rate that you have on your credit card can double or triple depending on the card with just one late payment.
It is of utmost importance to make your credit card payment on time or much earlier if possible. Compare credit card rates among each and every student credit card and find the right card that will be the most beneficial to you.
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