Use College Student Credit Card When Going to College
Becoming a college student is a fun new stage in your life but it can also seem stressful. Being away from home for the first time. Managing your finances without the help of your parents. Getting a part time job while studying and making new friends. It all can be overwhelming. Learning to take care of your money and establishing credit is very important when in college. Now is the time to apply for a credit card. But before you do that you need to be careful not to put yourself into credit card debt.
College student credit cards were the subject of controversy and debate. Some people are arguing that credit card corporations target the less than answerable spending habits of the college students. They offer the college students a credit card, while they know that the money would most probably be made in the finance charges, late charges as well as high interest rates.
Universities and Colleges
In addition to that, universities and colleges usually obtain kickbacks from credit card companies. They allow them to start setting up booths on the campuses. These companies send card offers to the students & parents on the universities’ mailing list which provide the students offers that are hard to resist. Universities and colleges that sell student information to these credit card corporations is at times seen as a battle of interest.
Meanwhile, others state that learning how to spend wisely will build a credit history and should start as soon as possible. When a credit card with that responsible limitation is established, this might be the ideal time for building credit report particularly when many students are not bogged down with some other financial responsibilities such as car and house payments together with the expenses that in connection with having a family.
College Student Credit Card
When you believe that college student credit cards are suitable for the child, there are different options available in 2 major categories. First of all, when the actual unsecured credit card has been desired, highly attractive cards that are geared to students could be found. Some are giving additional rewards points for the kinds of usual college student purchases such as music, books, movies as well as food including normal points for some other purchases.
The interest rates on such cards are at the manageable phase but the same with any credit cards, the students must practice good and proper credit habits through paying the whole balance in the end of every billing cycle. Most cards have the introductory rate for as low as zero percent and no yearly fee.
There’s another type of the college student credit cards yet they show a choice with reduced risk of abuse and unreliable spending habits. Parents could take out a prepaid credit card in which the set balance could be added to the credit card at the selected intervals. It doesn’t establish a credit history yet it is preventing the student from becoming overwhelmed with credit card obligation.
Pre-Paid Student Card
Most of such prepaid cards are coming with some advantageous benefits which include no yearly fee, free email & text message notifications, free automatic bill payments and text messaging notifications with on the recent balance of the credit card. Additionally, there are places where the money could be added on the card.