Student Credit Cards and Resources

School Loans Vs College Student Credit

2009-02-24T01:12:00.000-08:00

An important thing to understand about a private school loan is who is actually involved in the process. It is not a federally funded loan that would have the same governing as those offered from the FAFSA results. Private student loans are based on one's credit profile and credit score, not unlike a student credit card.

First of all, there are private lenders. These can be anything from a local bank to the major consumer banks that operate nationally. These are the institutions that will likely be doing the initial offering of a loan, and determining the first set of benefits associated with the securing of the funding. These companies will be the first people you deal with, but are not likely to keep your loan. Generally they will sell your loan to another kind of company called a “loan holder,” or in case of a credit card company a credit card holder.

A loan holder, the second entity involved in private student loans, will often pay the initial private lender a lump sum payment to take over the responsibility of the loan collection. This will usually not have any affect on the terms you agreed to with the original company – provided that was part of your original agreement. You will then be paying back the loan to a different entity than you first borrowed from.

The third kind of company that can be involved in the process is a loan servicer. In most cases, private loans extended for higher education will be serviced by one of the national companies that service the federally backed loans. The loan servicer’s responsibility is to communicate to the borrower what amount is owed, and collect a monthly payment to forward to the lender. They will keep records about the entire history of the loan, and be able to answer questions about all agreements made with the original loan company. They generally are not able to negotiate changes to the loan terms, nor can they approve any kind of extension or deferment.

These separate companies are all geared towards the best interests of the student. Unfortunately, the confusion of the borrower about who to communicate with can be overwhelming. This is often a big contributor to late and missed payments. Be sure you keep yourself informed as to the status of your personal loans and debts. This will allow you to keep on top of your finances, and be able to ask the correct company for answers o any questions.

To learn more about student loans and student credit cards visit www.StudentCreditCards.com

Bad Credit Private Student Loans

2009-01-08T17:04:00.000-08:00

Bad Credit Private Student Loans

If your a student and your credit is not the best, you may be used to complications already, and you just want to find fast and easy private student loans for bad credit borrowers. Slow down a little bit for you might be able to get a loan and it can sometimes be done quickly, but you should still take a little time to review your options and get the best possible deal.

If you are not looking for student credit cards and seek a private student loan then you should have already exhausted all possibilities of covering your education expenses with federal loans and student financial aid, grants and scholarships. You should be sure to take out the maximum federal loans and any financial aid you can get before applying for private student loans, and student credit cards for that matter. Federal loans offer fixed interest rates and Stafford loans do not require a credit check. Do not give up on federal loans just because you are looking for convenience. If you are going to finish college you will need to be able to manage your way through a little government paperwork. Consider it your first research project.

It is common for students to fund their education through private loans as well as federal loans, because federal loans often do not cover a student’s needs. Students often seek a student credit card to pay for smaller college expenses. Do not go with the first private student loan or student credit card offer without comparing as many lenders as possible. Even with bad credit, some financial institutions will reject your application, however, others will sometimes compete for your business. Remember, student loans cannot be excused by declaring bankruptcy, so the lender knows that this is sometimes a low-risk loan to begin with.

Take the time to call several lenders and compare their offers, and let them know if you are getting better offers so they have the chance to make a counter-offer. This takes a little extra time, but they will attend to you quickly and you can compare different offers and still have the issue resolved in no time. To make things quicker, get all your financial information in order before starting to call private loans.

Making lenders compete for your business is a good way to reduce the higher fees and interest rates students with bad credit have to pay. Also, if you have a cosigner with good credit, you can get a better offer.
If you have all your financial information in order, your credit history in hand, and have calculated exactly how much you need to borrow, lenders will give you tentative prices for the sake of comparison, and most lenders have websites, which provide loan calculators.

Many lenders will offer you fast and easy private student loans for bad credit borrowers, but if you don’t take a little time to compare offers now, you may spend years paying off the extra interest later.

If you are seeking a student credit card, visit StudentCreditCards.com

Avoiding More Credit Card Debt

2009-01-06T13:58:00.000-08:00

Avoiding More Credit Card Debt and Finding a Card

When buying an item with your credit card, there are seven questions to consider before making the actual purchase:

ONE: Do you really need this item right now, or can you wait?
TWO: What is the interest rate on the credit card you're using?
THREE: Will there be any additional fees associated with this?
FOUR: Will you be able to afford the monthly payments?
FIVE: What will be the extra cost of using credit instead of paying cash?
SIX: What will you have to dive up of go without to pay for this item?
SEVEN: You've just asked yourself six tiring questions about a single purchase so is using credit for this item really worth it?

If you have yet to get a student credit card, ask yourself:

ONE: Am I properly educated on credit card usage?
TWO: Do I know what an APR is?
THREE: Am I aware that paying off my student credit card balance off each month will help build excellent credit as well as excelley spending habits?
FOUR: Do I really need a student credit card or can I pay for items with a debit card or cash?

For those college students who are ready for a college student credit card, you can compare the top student credit cards here or visit www.StuentCreditCards.com

College Student Credit Card Reviews

2008-12-29T11:52:00.000-08:00

College Student Credit Card Reviews

It is important to compare as many student credit cards as possible before actually applying for one specific college student credit card. Consider card facts such as APR, annual fee (if any), overdraft charge, cash back offers and any discounts offered with the respective credit card. Avoid credit card offers presented on campus along side free enticements. Compare college student credit cards at StudentCreditCards.com to find a credit card when YOU are ready.

2008 Student Credit Card Offers

2008-11-28T14:45:00.000-08:00

2008 Student Credit Card Offers

We have seen roughly 10 unique student credit card offers ranging from the Citi® mtvU(TM) Platinum Select® Visa® Card for College Students to the Capital One® Standard Platinum for Students. The vast majority of our users are college students. On our website students can compare college student credit cards and apply securely online.

Black Friday update:

Many college students fund themselves at midnight and early morning sales looking for that perfect gift. Hopefully they got a deal on a gift and refrained from non planned purchases. In today's rough economy many people are deciding to hang on to their money, which isn't a bad thing to do. Make a budget and stay set on the budget.

Student Credit Card Spending

2008-10-27T12:18:00.000-07:00

Student Credit Card Spending

When you feel the urge to pull out your student credit card to buy something you stumble upon while shopping is called "want spending." This is something a college student needs to avoid when carrying a student credit card. Planned expenses with an effective budget is the way to build credit: try to pay off your credit card balance each month in full. Making minimum monthly payments = more $ paid off in total, because of the interest that accrues. If you do not yet have a student credit card, be wise and choosy with your selection of a particular credit card for students.

Holiday spending is approaching and more college students are going to face that moment where they see the perfect gift but don't have enough cash to buy it thus they end up using their student credit card to pay for the item. Once you start this impulse buy / want spending habit it becomes a hard habit to break. Using student credit cards responsibility can benefit your credit history and potentially increase your credit score.

A Student Journal on Credit Cards

2008-09-11T18:28:00.000-07:00

A Student Journal on Student Credit Cards

Today I arrived at my community college, and was almost late for class, because of these three student credit card representatives; who I felt were interrogating me, to sign up for a student credit card; which I wasn't ready for yet. As soon as I got out of my car and started to walk towards the school campus, the first representative quickly approached me and was instantly trying to offer me free pens, shirts, and other random little "gifts". The only thing was that you had to sign up before you got anything. I can remember the representatives voice, as he repeated, "if you sign up for their credit card today, you will get this...!" He continued to say more, " Have you ever thought about signing up for a student credit card?" he said. I told the representative that I had thought about it and had already found a great company, online, when I was ready. It is so stressful to have someone pressuring you to sign up for a credit card, especially when you are not ready, or expecting it. I feel awful when I hear my friends at school wishing they had waited until they were ready; and now they look back at the situation and get upset. My friends understand now, how much smarter it would have been if they had just waited until they were ready, to get a credit card. The man who approached me looked like a walking advertisement sign, with all the "student credit card" pins all over his shirt, with his big fake smile... They just do not know when to give up, and when you say no, they just find more ways to talk their way into getting you to give in. They know when you're not ready, because the student will say" No thank you, I can't really afford it right now, maybe later." and then the representative keeps talking and comes up with ways they can afford it. I have seen so many of my friends rushed into signing up for credit cards, that now they are all in debt, and using their student credit cards.

My friend Amanda and I were at the mall shopping the other day, and as we sat down to eat, we started having this deep conversation about student credit cards for a college student and credit card representatives, that would always go on campus. We both agreed that it seemed inconsiderate, rude, and we hated how they would pressure every student in sight to get a student loan. We laughed as we began relating these on campus representatives to car sales men. They didn't care if you were ready or were financially stable, they just seemed to care about just, "sealing the deal". It reminded me of the day when I went looking for a new car, and I only planned on looking around, and ended up leaving that day with a brand new car. Just like many students who get talked into a student credit card, I was talked into buying a brand new car, and I wish I would have waited now. Many friends that I talk to now, wish they would have waited, because most of them are abusing their cards everywhere, and can only pay the minimum on their card each month. In the past, I had a good steady job and I thought I could pay for everything with no worries, and almost signed up for a student credit card on campus...but something told me to wait; and I am so happy I did, because one day I ended up loosing my job, and wouldn't have been able to pay for it. I believe everything happens for a reason, and I am very glad that things turned out the way they did, because now I love my job and I can afford my credit card.

I can relate the car sales people, to the student credit card representatives that go on campus, because they both do not think about the clients perspective; they only think about their time and trying to sign as many people up as quick as possible. When the student credit card representatives came on campus, I got a total flashback of the time I ended up buying my second car, and as I drove up that day, to the car dealership, they all started walking fast towards my parked car; I looked in the rear view mirror as I parked my car and saw all of the sales men standing around, as like it was some kind of race, they quickly swarmed around my car. Before I stepped outside, I tried to prepare myself for the interrogation, and thought to myself, " I can't even go look at a car without these sales people hovering around me, telling me what a great deal they can give me on this one, and this is very uncomfortable." They never give up, and they just followed me around and kept telling me everything I wanted to hear; just to get me to give in and sign some papers... and I knew I was not ready, but I wanted it so bad that they ended up talking very well- and won. I signed those papers and I knew inside that I probably shouldn't have. I went there just wanting to look, and ended up driving home with a new car, which was one of the worst things ideas I have had; which I was rushed into like many students today with getting student loans.

Today I am happy to say that I was very smart after purchasing that car, and it made me realize that waiting until you are ready for something, is the smarter thing to do. Before I started attending my community college, I was ready to complete a student credit card application, and I felt so comfortable when I found this one website online, which was very easy, simple, and smart. I love the computer and the online world, because it's about when you are ready, not when the company is. All you have to do is go online and fill out the form, and it's just so easy. I love that I did not have to listen to one of these credit card representatives talk for an hour, all I had to do was click a couple buttons on laptop, and it was done! Thank God for the internet. Sorry if this story is a little boring, but my advice for today is, wait until you are ready and use your credit card responsibly.

More on Student Credit Card Offers

2008-09-04T12:30:00.000-07:00

More on Student Credit Card Offers

Now that the school semester has started again students and credit card companies alike are back on campus. We have discussed this practice of on campus credit card marketing in previous blogs, but it is important to revisit it as many students can fall victim to their giveaways and freebies offered for their personal information on a signed credit card application.

First off, college student should not even think about getting a student credit card until they have a steady part time job and a budget plan to promptly repay everything which is charged on the student credit card that same month. It might sound unrealistic, but it is not. Groceries are something that all students need and by setting a grocery budget and executing that budget, a student can find themselves in a win win situation if the grocery expenses are charged on the credit card each month with the plan being to pay off the purchases in their entirety every month. Groceries are not expenses that come out of nowhere and they certainly are not "want" expenses - they are "need" expenses. Need VS want spending is important to understand because it is 'want' charges/purchases which slowly and steadily increase a student's total outstanding debt.

Student credit cards for college do usually come with lower spending thresholds, but knowing and practicing 'need' spending only is one of the most important elements of building a strong credit profile and healthy spending habits. The principle is very simple, only use your student credit cards to buy things you need, need to survive. That new trendy handbag is not something that a student needs, it's clearly an item the student wants. The important concept of need versus want spending cannot be overstated because if college students stick to using their student credit cards only for purchases which are "needed" a lot less debt will be accumulated.

Student credit cards come in many different styles and colors, but these factors are unimportant. What is important are the fees, interest rates and other financial obligations that accompany different college student credit cards. Some cards will increase the interest rate if a single monthly payment is received kate so read ALL details and find print associated with any credit card for students.

When a student is ready to embark on their financial future in a serious manner, pay a visit to www.studentcreditcards.com to learn more about building solid credit and to compare top student credit cards and apply online.

Find the right student credit card

2008-08-02T15:05:00.000-07:00

Find the right student credit card

Finding the right student credit card is both easy and time consuming. First off, students should not apply for any credit card until they themselves decide to. This means resisting temptation to apply for a student credit card because of free handouts offered by companies who come to college campuses with "free" giveaways. Credit education is a key part of the process; know what you're getting yourself in to before obtaining a credit card. It can be easy to apply for a student card because of the helpful resources on the internet which allow you to compare multiple credit cards online, before making the decision to actually apply. Websites such as StudentCreditCards.com present top student credit card offers from reputable, well known banks and card issuers. This allows a student and their parents to browse current card offers and find the one that meets their own needs the best.

StudentCreditCards.com also presents educational credit articles which provide insight in to facts and myths about student credit cards for college students. Additional sections include information on how to obtain a free credit report, as well as pages devoted to credit school - which provides additional information and tips on how credit actually works and affects consumers and students. This might be time consuming, reading over the educational material on credit, but it can help a student start off on the right financial foot. Knowing the facts about credit before using a credit card puts oneself in an educated position, with knowledge to know what to expect and what to avoid. A credit score is essentially one's financial reputation and it is looked at when you apply for a mortgage, a car loan, any line of credit and sometimes even by potential employers. This is why it is of the utmost importance to treat credit usage seriously and responsibly as if used properly credit cards are excellent tools in building a strong credit score and respectable credit history.

Some benefits offered by student credit cards include introductory 0% APR (annual percentage rate), no annual fees, zero liability for unauthorized purchases if your credit card is stolen or even misplaced. Example rewards include gift cards; discounts on travel, bookstores and more. Some student credit cards even offer incentives for getting good grades. Be careful in reading all the terms and conditions before applying and exercise informed decision making as you will discover some cards have fees associated with cash advances and balance transfers.

Learn more about credit and compare student credit cards to find the right card for yourself by visiting StudentCreditCards.com.

First Time Credit Cards

2008-07-02T20:10:00.000-07:00

First Time Credit Cards

The first time I applied for a credit card was when I was in college. I was fortunate enough to apply for a first time credit card which offered a low credit limit of $400. Within a couple of months I had charged $300 on the credit card and the interest rate was 15%, which put my balance over $300, but under $300. On holiday break I explained to my parents that the only gift I wanted was for my balance on my credit card to be paid off. They didn't even know I had a credit card and were a little upset about me getting one without talking to them first. They paid off my balance on the condition that I only use the card for emergencies. I agreed. Cut to three months later and my credit card balance was back up over $300, but it didn't seem that bad as my credit limit was now at $800. My birthday came around and my parents asked me what I wanted for a gift. I asked they pay of my first time credit card balance of $335. They said sure and were not made or upset as the only charge on the card since the holidays was a charge for car repair, which i had told them about. I used my student credit card for an emergency when my car quit on me. The credit card came in handy as there was no way for me to pay for it as I was on spring break with limited cash.

Credit card for student: First time student credit cards for college students can be useful tools if used properly. I sat down with a credit counselor and learned some of the basics of building solid credit. I learned that paying off your card then canceling it can sometimes not be beneficial for your credit score as it can be better to pay it off and leave it open because having a credit line from a creditor for a length of time shows credit history. Avoiding late payments and keeping your balance low while making regular payments leaves an amount of credit that is available. Not using all of your available credit is rumored to be a factor in figuring one's credit score. In other words, maxing out your credit card is a bad thing, while having available credit is a good thing. A numerical example for good credit could be having a revolving credit line of $1000, with $900 available and $100 which is used monthly and paid off each month when possible. Doing this on a repetitive basis shows a borrowing and payoff pattern which is much better than making the minimum payment of $30 each mont on a maxed out credit card that has a $1000 credit limit.

When it come to credit, students need to learn the basics of building solid credit before applying for first time student credit cards for college students. Consider StudentCreditCards.com to learn good credit tips and compare the major student credit card companies.

Say no to the on campus credit card guy

2008-06-14T20:54:00.000-07:00

Why I said no to the no campus credit card marketing guy.

I was on my way to psych 101 and this man in his mid thirties jumped in front of me and flashed several student credit cards and asked for a minute of my time. I agreed. He proceeded to tell me if I applied for a credit card he would give me a voucher for a free six pack of pepsi. He did not offer me any educational material on building good credit, only a choice of applications for credit cards. I told him I would think about it and he became frustrated. He told me I needed to apply for a student credit card right now or I would not get the free soda. This man would not let up ... he persisted and persisted to the point that I almost felt bad for him.

At this point the one minute of time time had turned in to ten minutes and I was late for class. I told him I would stop by after class after I had some time to think about it. During class I kept thinking about how pushy this credit card guy was and it angered me a little bit. Class was let out early and I walked a different route back to the dorm.

It turns out my roommate was cornered by the same credit card marketer last year and she ended up applying for several credit cards to get many free incentive gifts, only to not get approved for a single one. I called my parents and they told me to not apply for a student credit card until I sat down with them and talked about the basics of building good credit in an intelligent way.

We searched the internet and found this very site, StudentCreditCards.com - where you will find several articles on building good credit and a selection on the major student credit cards for college students to review and compare when applying.

Student should take their time when applying for a credit card. The first step is learning how to build strong credit, educate yourself and involve your parents as they have been through the trials and tribulations of using credit. Credit must be repaid, it is not free money for college. Don't apply for a credit because everyone else has one or because it might seem cool to carry one. When you are ready to learn about credit, read the credit card articles at StudentCreditCards.com and if you are employed or have a co-signer then compare student credit card issuers and apply online only if you are ready.

Credit Card Fraud Protection and Prevention

2008-05-11T18:27:00.000-07:00

How To Protect Against Credit Card Fraud
By: StudentCreditCards.com

Protecting your student credit card is a vital part in maintaining good credit. The following are some ways to prevent student credit card fraud and catch fraud in action.

Watch Your Back
Know when your bill is schedule to arrive each month and if it doesn’t come, contact the lender immediately. After receiving the bill, review all the charges to ensure the bill is correct. If there are mystery charges, contact the credit card issuer for further investigation.

Protect Your Interests
The days of leaving your outgoing mail in the mailbox are gone. A red flag on a mailbox is more like an invitation to thieves then a signal to the carrier. Whenever possible, drop your outgoing credit card payments into a secure Post Office reciprocal. If you must use a freestanding mailbox at your home, do not put the flag up. The mail carrier will see the mail when he or she arrives to drop off the day’s letters. In addition, put the mail out at the last possible moment. Do not put your outgoing mail in the mailbox the night before unless it is a necessity.

In the past, most driver’s licenses, health insurance cards and student identification cards boasted the individual’s Social Security number as the card number. Times have changed, and the practice is not so common now. However, if you find your Social Security number being used as a card number too, request a new number to best protect this important number.

Go the Extra Mile
Contact your banks and student credit card lenders to request a password be applied to any account that doesn’t already have one. Make this password hard to guess. Do not use your mother’s maiden name and include both alphabet characters and numerals in the password. Commit the password to memory. If you must keep it written down somewhere, secure the location of the information.

Check your credit reports on a regular basis. Review the reports for unusual accounts. If you find erroneous information, file an alert with the fraud department and contact the creditor directly via certified mail.

How to Fight Credit Card Fraud

Even after taking all the protective steps imaginable, some individuals still become a victim of student credit card fraud and personal identity theft. If you find yourself in this situation, there are several steps you can take to fight back.

Victims of identity theft or credit card fraud may request, free of charge, a credit report. Order reports from TransUnion, Experian, and Equifax for review.

File a report with the local law enforcement agency. If you find the agency unresponsive, do not deter. You need an official document stating the event. Persist until you receive such a document. If at all possible, request the agency to investigate the student credit card fraud. Once you have a police report in hand, make a copy for your records.
Contact the three major credit bureaus (listed above) and request to have your records flagged. In addition ask to have creditors contact you directly before opening a new credit line in your name.
If the fraud is really out of hand, cancel all of your student credit cards and open new accounts. Do not forget to request a password for each new account.
If your mail was stolen as part of the identity theft, contact the United States Postal Service and file a mail fraud complaint.
Double check with the Social Security Administration to ensure your name is listed correctly and that your retirement benefits are properly attributed.

Contact your banks and report the fraud. Request that all payments be stopped on outstanding checks. If needed, close your checking accounts and savings accounts and open new ones. Also request new ATM cards and PINs.
Contact each creditor for every fraudulent account. Include a written letter and affidavit notarized by a witness. Request the account be closed because it is fraudulent. Include a police report when possible and ask the lender to correct your record and confirm the changes via mail.

Student Credit Card Identity Protection

2008-04-26T13:29:00.000-07:00

Student Credit Card Terms and Identity protection
From: StudentCreditCards.com

Student Credit Card Terms Defined

One of the first things a student hears when he or she is looking for a credit card is to “make sure you find the terms that are best for you.” This sounds helpful, but what does it really mean? In order to clarify what student credit card terms are right for you, you must first understand the different types of terms.

Perhaps the most important term is annual percentage rate (APR). The APR is the percent at which you are charged for using credit. Essentially, it is a measure of the cost of credit based on a yearly rate. The lower the APR, the better.

Another key term is periodic rate. This is the rate the card lender charges to the outstanding balance of the credit card on a monthly basis. Both the APR and periodic rate should be disclosed to the student before an application for credit is submitted.

Certain student credit cards offer what is called a variable rate plan. This type of plan allows the interest rate to change based on the current performance of the index. With a variable rate plan, the interest fee may increase or decrease. Again, everything revolves around the index. Variable rate plans can change monthly, quarterly, or annually. It is the card issuer’s responsibility to tell the student how often and when a variable rate plan is adjusted.

In general, it is a smart move to apply for student credit cards that offer a free period or grace period. The free period allows the student to completely avoid finance charges if the card’s balance is paid in full prior to the monthly due date. For example, if a student uses a credit card to purchase $100 in clothes and pays the creditor $100 during the free period, he or she is not subject to a finance charge.

Lastly, beware of annual fees. Not all credit card companies charge a yearly fee. The companies that do charge, typically bill $25 to $100 for simply owning the card..

Now, on to How To Protect Your Identity

Identity theft can create an unimaginable nightmare for the victim. By definition, identity theft occurs when someone uses another’s identity as his or her own. Identity thieves typically use the alias to apply for credit. Luckily, there are some things that can be done to protect against identity theft that everyone should consider doing.

When it comes to personal information, it is best kept personal. Bank account numbers, social security numbers, pin numbers should all be closely guarded. This information is gold to a would-be identity thief. Additionally, credit card numbers should be kept under wraps to prevent fraudulent purchases by a credit card bandit.

Along with protecting personal information, it is important to monitor your credit statements each month. For example, if you have a student credit card, know when to expect its arrival in the mail each month. With the statement in hand, review the statement’s charges closely and verify the charges are all legitimate. Contact the credit card company immediately if there are any unaccounted for transactions on the card.

Shredding documents such as pay stubs, credit card statements, and applications for student credit cards is another way to protect your identity. Whenever applicable, put passwords on important accounts such as college student credit cards and bank accounts. The password should be difficult to guess and include both numbers and alphabet characters.

As previously mentioned, an individual’s social security number is an important and valuable number. Do not carry your social security card on your person. Additionally, don’t give out your social security number unless it is absolutely necessary. If someone contacts you and requests your number, beware. E-mail and telephone scammers can sound very legitimate, therefore make it a personal policy to never give out vital information unless you are 100 percent sure it is safe.

Learn more or compare cards at http://www.studentcreditcards.com

Why You Need A Student Credit Card

2008-03-14T03:32:00.000-07:00

Why You Need A Student Credit Card
by: Studentcreditcards.com

Owning a student credit card affords an individual luxurious those who pay with cash don’t necessarily have. To begin, using a credit card to make a purchase is hassle-free in comparison to paying by check or cash. In addition, when you carry a credit card around, it limits the amount of cash you have to keep in your purse or wallet. A credit card also simplifies the transaction process and allows the user to make Internet purchases.

College student credit cards are also great to have on hand in case of emergency. What happens if your car breaks down and you to have it fixed, but don’t have the cash? Having a card in case of emergencies provides a security blanket that can get you through most financial crunches.

When utilized responsibly, a student credit card can be used effectively to budget the consumer’s spending. Credit cards also let you cash in on special offers and sales when you otherwise wouldn’t have the cash. Along the same lines, if you have to go on a trip and accrue business expenses that will later be reimbursed, you can use the card to carry the expense until you receive funds.

Student credit cards also boast a certain amount of security. A lost credit card cannot be used by anyone. The card owner can even report the card stolen and have it turned off before it is used. If the card is used illegally, the card issuer cannot legally hold the owner responsible for the unauthorized charges. If you lose your cash, it is most likely gone for good.

While the advantages of owning a college student credit card cover a gamut of situations, benefiting from these advantages requires responsible spending. For example, it is a good idea to pay off the credit card debt on a monthly basis. Failing to do so will cost more money in the long run and take up precious emergency spending dollars.

In the event of your application for credit is denied because of “insufficient credit file” and you are a full-time student, you can contact the lender and ask if they are aware of your student status. In certain cases, companies will extend you a student credit card offer with a lower than normal credit line to get your student credit history underway. As you pay your bills on time, the company will then slowly increase your credit line accordingly. In other words, you are rewarded for responsibly managing your credit.

Lastly, and perhaps most importantly, all consumers are protected under the Equal Credit Opportunity Act that states financial instructions must make fair decisions when it comes to determining in an applicant is creditworthy. An individual’s color, race, religion, fender, ethnicity, age, and marital status should not affect their ability to gain credit.

To learn more, or to compare student card offers visit www.studentcreditcards.com

Student Credit Cards Management

2007-12-19T17:08:00.001-08:00

As a student, you will inevitably run into some financial emergencies. Many students handle these unexpected expenses by using credit cards. You can usually qualify for student credit cards when you’re enrolled in school, regardless of your lack of credit history. More and more students are finding that student credit cards give them the security that they need to make it through school. They are also building their credit which will prove to be very important once they’re out of school.
If you’re a student with a credit card, there are a few rules of thumb that you should follow. First, don’t use your credit card for frivolous purchases. This includes fast food, nights out with friends and lots of new clothes. Be diligent about only using your emergency credit cards for emergencies. Getting auto repairs, buying project supplies and paying for an emergency room visit are all things that can’t be put off until later and can be considered immediate necessities. Always ask yourself if what you are paying for is a need or a want and you should be able to keep yourself on track.
It’s very important to always make your payments on time. Even one late payment can negatively impact your credit score. It’s also important to always pay more than the minimum amount due to show that you take initiative when it comes to paying off your balances and don’t let them get out of control. Pay your credit card completely off whenever you get the chance so that you don’t have a long history of revolving debt. Try not to get your credit cards up to their spending limits. Keeping them down shows that you are responsible enough to have available credit and not use it. If you follow these suggestions, then you should be on your way to a decent credit score.
If you do get in over your head, then you may need to come up with a strategy to manage your debt. Attacking the card with the highest interest rate first is a common strategy to paying off debt. Pay as much as possible to this one card, even if it means making minimum payments on your other cards for a while. Another way to pay off debt is to take care of your smallest balances first. This is a more motivating way to pay off debt because you’ll see the bills disappearing. Keep paying the same amount every month towards your debt. This will get you to pay more and more towards your largest bill over time until all of your money is going to that one card.
Sometimes you can call your credit card company and simply ask for a better annual percentage rate. A balance transfer can get you a short term special deal that can help you pay less interest in the long run. Watch out for fees that may end up costing you more than the interest you might have paid. Don’t be lured by a credit card deal that has a great promotional rate and then balloons into something really high. Be diligent and your student credit cards can be paid off sooner than you think.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com.

Students Saving Money

2007-12-19T17:04:00.001-08:00

Living paycheck to paycheck is no picnic. An overwhelming number of people live their lives this way. When your paycheck barely covers your bills, it can be taxing on your wallet and your sanity. Try to keep things in perspective and do the best that you can. Save money where ever you can and don’t make unnecessary purchases. Avoid impulse items at the store and save a little, even if the amount seems trivial.
Find ways to increase your income if possible. Ask for overtime at work or take on a second job. Keep looking for work that could pay you more even if you’re already employed. Have yard sales and utilize auction sites to sell things that you have that you no longer have a need for. Offer services to your friends, family and neighbors. You might even distribute flyers around campus or make signs to attract potential customers. Figure out what you’re capable of and what you have to offer, and then use it. Do things that others may not want to do and that they’d be willing to pay for. Clean houses, wash cars, tutor, clean gutters, cut grass, type term papers, whatever you can think of that can make you a few bucks here and there.
Second, find a way to save. Saving money on your frivolous purchases is job number one. If you go to fast food every day for lunch, stop it all together and pack a lunch. Calculate how much you save every week to keep you motivated. Some people find out that they have to work an entire day to pay for their fast food habit each week. Don’t let going to work cost you a chunk of what you make. Find a carpool to join, start one up or take the bus, train or subway to work and school. Saving gas money adds up quickly now days. Find ways to lower your bills. Switch from incandescent bulbs to fluorescent ones. Make sure that you don’t have the television, stereo or lights on when they are not in use. Don’t leave appliances or chargers plugged in when you’re not using them. They still use power even if they’re turned off.
Make yourself a budget. Figure out exactly what you’re bringing in and overestimate what your bills will be. You don’t want to be caught off guard when you get that first winter heating bill. Some utility companies will allow you to pay a set amount each month that covers you for the year. This helps you to avoid huge fluctuations during summer and winter months. It’s easier to budget for and can help you get into a rhythm with your spending that can help you train yourself to live within your means.
If you need some security and want to be able to handle financial emergencies yourself, then you might consider something like student credit cards. Special offers are available for students looking for credit cards. Don’t overspend or charge things that aren’t really emergencies. Make your payments on time and you can build your credit. Organize your life and you can live comfortably within your income range.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com.

Students and Secured Credit Cards

2007-12-19T16:59:00.000-08:00

When you enter college, you may soon find the need to apply for student credit cards. There are a few reasons to get a student credit card. The most common reason to get a credit card is for emergencies. Emergency medical care, vehicle repairs, unexpected school expenses and avoiding starvation may all be reasons to apply for a student credit card. Another reason is simply to start building your credit.
Most students don’t have a credit score or any credit history because of their age. There are special offers from credit card companies out there to combat the problem of constantly being rejected for credit because of an insufficient credit history. Many of these student credit card offers require that you be enrolled in school to qualify. The idea is that you are receiving an education that will later allow you the funds to repay any debts that you incur during college. This makes you less of a risk to the credit card company than someone your age that isn’t in school. It is assumed that you will make more money in the future than those who aren’t furthering their education.
Qualifying for a student credit card is easier if you are currently employed. If you are not, then you still may qualify for a secured credit card. A secured credit card is a card that has a deposit account attached to it. This means that you will be required to deposit money to get the card. You will usually be asked to deposit up to five hundred dollars. This can usually get you a credit limit of between five hundred and one thousand dollars. The credit limit is the amount that you can charge up to.
Secured credit cards show great responsibility and can build your credit very quickly. Basically it tells the credit card company that you have the foresight to save money and use it to build your credit, investing in your future. You must make every payment on time and pay more than the minimum amount that is due. If you don’t, then you run the great risk of damaging your credit very early in the game. Consider your credit card the catalyst for proving your responsibility. Don’t run your credit card up to the limit unless it is absolutely necessary. If you do, then pay it back down as soon as possible. Holding a balance that is close to the limit can hurt your credit score.
Shop around and choose wisely when selecting which card you want to apply for. Apply only for the ones that you really believe you’ll be approved for. Watch out for extra fees or high annual percentage rates. Take advantage of special deals offered to students, but disregard them if they turn into high rates and high fees after the promotional period is over. Be responsible and always make your payments on time. Proving yourself now can lead to the best deals on major purchases in the future. If you do well and keep your credit score high, then you’ll enjoy special deals and the best interest rates for years to come. Your student credit card could be the start of your successful financial future.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com.

Budgeting for Students

2007-12-05T11:02:00.000-08:00

Budgeting can be especially hard for students. There is so much new responsibility in their lives and money is a big one. Many students have never been in charge of their own finances before and they probably haven’t had much guidance in this area. If your child is going off to college or is already a student, you may want to educate them on financial matters.
Most adults know what budgeting is all about, but it may surprise you to know that most students going into college have no idea what that word actually means. You know as a parent how hard it can be to stick to a budget and you should expect that your college student will struggle with it as well. Keep in mind that this may be the first time that they have to exhibit self-discipline. The first step is to simply explain what budgeting is. Budgeting is basically a plan that lists all of your money coming in and money going out. Remember that everyone learns differently, so you may want to also write down a mock budget plan for them. Getting them to write it is also a good idea. Once you get the idea of a budget into their heads, then you can move on to the next step.
Next you want to make sure that all sources of income are accounted for. Student loans, income from their job if they have one, scholarship money, allowance from their parents or family, and any other benefit monies they may have coming in. At this point, most students will think that the amount of income looks great. They probably haven’t had this much money at their disposal before, and may suddenly get the itch to go shopping. A big mistake is for students to use the amount coming in as an excuse to spend five dollars here and there all month long. They won’t even know what happened when the money is gone. This is why it is very important to accurately track expenses in the next step.
Staying on top of money spent is a very hard discipline to learn. First they need to make an accurate list of their expected expenses. Books, bills, cafeteria, groceries, school and personal supplies, gas and don’t forget recreation. Going out with friends is an important social part of their lives and they need to budget for it. Clothing is something that they will definitely need as well. Doctor visits and prescriptions need to be planned for. There are lots of little things that you may not think of yet, which is why the next section is important as well.
Include an unexpected expense section in your child’s budget. Here is where they should note any extra expenses that came up during the month. Oil changes, auto repair, an emergency room visit, replacing a cell phone, anything that they didn’t expect that ended up cutting into their budget. Writing it down will help them look back in future months and determine if it’s something that could happen again that they should plan for.
Keeping up with the budget will most likely prove challenging for most students. Creating a separate savings account will help separate money that needs to be saved from disposable income. Taking out cash instead of using a debit card is a very effective way to stick to a budget. Encourage your child to leave their debit card at home when they go out with friends and only use the cash that is accounted for in the budget. You may want to educate your child on the importance of being responsible with credit as well and help them look for student credit cards that could help them out of a real emergency while they are away at school.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com

Students Can Establish Credit

2007-12-05T10:58:00.000-08:00

Students are uniquely positioned to establish their credit. Lenders and credit card companies realize that they are just starting out and may not have any credit history yet. There are companies that offer credit cards specifically to students to help them establish their credit. If you’re a student looking to establish credit, then you are smart to start early. Things like buying a house or financing an auto loan usually require a credit history, and as a student, these things are most likely in your future.
Establishing credit will let lenders and credit card companies see if you are good at handling finances or not. When you’re in the process of establishing your credit, keep in mind what a lender might be looking for. They want someone who has proven that they can make payments on time. They also want to know that they’ll make some money on the interest that you’ll pay. Therefore, getting a student credit card and paying it off in full every month isn’t necessarily the best thing to do. It’s generally a good idea to pay more than your minimum payment each month to show that you aren’t neglecting the balance all together. Leaving a small balance shows lenders that you aren’t opposed to paying a little bit of interest each month. Don’t run your card up to the limit, or that will make lenders think that you can’t handle having available credit without spending it all.
You want to look as responsible as possible without keeping the credit card company from making any money. A good rule of thumb is to not run your credit up over 50% of your total credit line. Shop around for good rates on student credit cards, but don’t fill out too many applications. Apply for the ones that you believe to have the best percentage rates and the least amount of fees. When you fill out a lot of applications, they appear as inquiries on your credit. This isn’t bad unless it’s a lot. This makes you look like you’re desperate to get a lot of cards. Lenders may see that as an irresponsible move, or decline your request based on the fact that you may have a lot of other cards in route to you.
Paying all of your bills on time will help you when you go to buy a house. This includes cell phone, electricity and even cable bills. These bills, however, won’t affect your credit because you’re paying for a service, not paying off borrowed money. Paying your credit card bills or loan installments is very important. These payments will be on your credit and your payment history for each will be looked at for years to come by prospective lenders and banks. Don’t neglect to make on-time payments to anyone that you’ve borrowed from, even if that means paying your power bill a little late. Credit cards and loans should come first when you pay your bills.
Getting student credit cards can help you establish a good credit score if you treat them with respect. Responsibility is key. Keep these guidelines in mind and you can have a good credit score in just a few short months.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com

Grocery Shopping for Students

2007-12-05T10:54:00.001-08:00

If you’re a student, you’ve probably figured out a few ways to stretch your money. Making your money last can be a real challenge and many students could use some help. One of your biggest expenses, besides your normal bills and tuition, is grocery shopping. New students may have never shopped for themselves before and may find it challenging to squeeze what they want into a tiny grocery allowance.
The first step is to always check your budget before you go to the store. Your budget should show how much money you have coming in and how much you have automatically going back out. Cell phone bills, rent, tuition, books, electricity and water will all be deducted from the amount that you have coming in. Once you’re pretty sure that you’ve accounted for each thing that you’ll need money for, then figure out how much you’ll need for recreation, food, gas and other essentials like laundry detergent and toilet paper. Remember that your grocery store trip will include buying all of these things, not just food.
Once you’ve come up with an amount that can be spent on just food, figure out how many meals you’ll need to cover on that amount. Plan your grocery list by considering what you’ll eat for each meal. Don’t make the mistake of buying a whole lot of snacks and running out of things to cook for dinner after just a few days. Don’t panic if you get down to just a couple of dollars allowed for each meal. There are plenty of ways to eat good food on a small budget.
One way is to buy in bulk. You can buy a big bag of frozen chicken tenders for around ten dollars. Then, you can use the chicken for easy meals like barbeque chicken, chicken sandwiches, boxed meals that only require you to add chicken, and many other good dishes that are good for you. A college student cooking for themselves can get about ten meals out of one bag of chicken. Hot dogs are not necessarily the healthiest thing you could choose, but you can get between four and eight meals from one package. There are always the college student staples of macaroni and cheese or ramen noodles as well.
Soups are also cheap options and are available in hearty recipes that will actually fill you up. Eggs and milk can go a long way as well. Now that it’s winter, a big pot of chili is a healthy cheap option. You can make one big pot of chili for around ten dollars and it keeps well in the fridge. You can quickly microwave bowls of chili for a week off of one pot.
Don’t despair if you have a tiny grocery budget. Shop around for coupons and find out if a store near you does double or triple coupon days. Shop for the best deals and get the most meals from each purchase that you can. Don’t forget to ask your parents for suggestions. Chances are, they’ve been through the small budget grocery crisis before, and can give you recipes and tips to survive on a small budget.
If you expect that you’ll really be broke and have no money for food at some point, then you may consider student credit cards as an option to get you out of a bind and build some credit at the same time.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com

College Students and Money

2007-11-05T07:43:00.000-08:00

We live in an increasing more material world. We have grown to expect instant gratification in every way. We no longer need to go to the bank and stand in line to get to our money. We wave tiny keychain devices in front of a receiver to pay for items at the store. Computers start up in no time and internet information is available on just about any subject that we can dream up in a snap. We don’t even have to walk to the mail box to pay a bill anymore. Remote controls, cell phones and MP3 players ensure that we can get where we need to go, talk to whomever we choose and listen to whatever we want in an instant. Our lives as Americans are full of conveniences and luxuries that our ancestors and people in other countries never dreamed of. So how does all of this convenience affect college students?
Current college students have spent their entire lives in this world of instant gratification and automated convenience. They have access to student credit cards to get them out of a bind, but credit cards can also get them into one. This is actually one convenience that can really help college students get by and help them prepare themselves for the future. Building your credit early is important in this day and age. Soon they’ll be out in the real world, needing to open cell phone contracts in their name, buy vehicles and ultimately buy a house. Keep in mind that most long-term big loan contracts, such as a home mortgage, can require up to an eight year good credit history to qualify. As long as they act responsibly, starting on a credit building financial journey while in college is necessary for those who will eventually buy a home.
Building credit can be accomplished if the right steps are taken. Signing up for a secured credit card is a relatively safe way to teach college students the responsibilities of owning a credit card. Secured credit cards require a deposit and the deposit dictates the amount of credit available. If you deposit $500, then you can spend up to $500. This is a great way to establish credit, or repair credit that has been damaged in the past. When you make your payments on time and when you are overall responsible for your finances, you will build your credit and you’ll usually be rewarded for your efforts. Banks and credit card companies keep track of your history and may offer you a line of unsecured credit or simply increase the amount that you are able to spend on that credit card. You will establish a credit score and be eligible for future loans and unsecured credit cards. Secured credit cards are a great way to teach college students about the discipline of paying off something long-term.
If they learn to avoid the instant gratification trap that they’ve been raised to expect and really only use the credit card for emergencies, then they will be better off in the future. Having a credit score and history that says good things about them will help them take pride in what they have learned and accomplished during their college years and will lay the groundwork for a successful financial life.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com

Are Students Good Credit Card Customers?

2007-10-25T12:52:00.000-07:00

College is usually that time in your life that comes between childhood and adulthood. For most, it acts as a buffer zone between being under your parents’ protection and being totally on your own. Your parents may bail you out now and then, but you won’t be able to rely on them forever. The time to start taking care of yourself, physically and financially, is now, while you’re in college. Sometimes student credit cards are the first step towards learning financial responsibility.
It used to be that very few students had credit cards. It was considered a privilege and not a right. Credit cards were very hard to obtain due to the lack of credit history, income and responsibility. Now days, credit card companies are realizing that college students can be their best customers. Student credit cards can be very easily obtained and require little steady income and little or no credit history. Credit card companies target students for many reasons. First off, they know that students generally haven’t learned how to manage their finances effectively, and they’ll make a lot of money off of late fees and unpaid balances. Second, students are generally unaware of what is a good interest rate. They may not take the time to read and understand all of the fine print in the credit card agreement. They may not notice that they are being charged certain fees, such as annual fees.
Students are more easily convinced to open credit card accounts. Credit card companies will set up booths with free t-shirts and other give-aways that entice students to apply for a credit card. You may not have the self-control that it takes to only use your credit card for real emergencies once you have it in your hand. Credit card companies see you as an easy target. They know that you most likely won’t take their information and then go research other student credit card offers before applying. They also know that historically, students have used credit cards for clothing and nights out with their friends. This habit is a hard one to break and you can get yourself into debt that lasts for years beyond college. Students make loyal customers and usually keep using the same card for a very long time.
Student credit cards can be very useful and help you through tough times. They can get you out of a financial emergency when you have no other options. Most importantly, you can build a good financial history by using your student credit card wisely and responsibly. Make all of your payments on time and always pay more than the minimum. Shop around before applying for any student credit cards. Look for the lowest interest rate, consider all fees and consider the card that you choose an emergency card only. Building your credit is very important at this age, but you can also really hurt your credit and pay for it for years to come. Be smart and learn financial responsibility by being responsible. Don’t take risks with your credit and stay on top of your budget. When you graduate, you’ll remember the good things about your college years as opposed to regretting the mess that you’ve made of your credit.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com

Tips for Students to Build Credit

2007-10-25T12:48:00.000-07:00

Creating good credit and getting student credit cards is new territory for college students. Your future is starting now and you probably haven’t given much thought to building your credit. Getting off on the right foot is crucial for your financial future. Making the wrong moves can haunt you for years and you should be aware of the risks and rewards when it comes to your credit score.
Your credit score tells lenders if you are a low-risk person who manages their money and credit well, or if you are careless and reckless with your finances. If your credit is good, you’ll enjoy low interest rates on loans and credit cards, lower minimum payments than your peers and more lending options will be available to you. This can be very important when it comes to making major purchases such as vehicles or buying your first home. Making bad choices and careless uninformed decisions can lead to a life of high interest, high payments and simply not qualifying for that car or house that you need. The worse your credit gets, the more you pay for everything that needs financing. Trending in this direction can lead you on a downward spiral of out of control debt.
You may not know exactly where to start to ensure that you get the best deal and establish the best score possible. You are probably starting out with no credit score at all and applying for loans and credit cards can be disappointing when you are rejected again and again. Make wise choices. Don’t get a credit card just to go shopping or on a trip with your friends. Make sure that you really do have a necessity and don’t overcharge any more than you need.
When choosing a card, you may have some luck going through your bank or credit union, but there are companies that have special previsions for students. It is generally best to avoid companies that be preying on the fact that you seem naïve about credit cards. Beware of representatives that offer free t-shirts or any other types of prizes for filling out an application. That freebie could end up costing you hundreds or thousands of dollars in fees and interest in the long run. Look for good introductory rates that don’t balloon into something horrible after the promotion runs out. Compare interest rates, fees and terms of many cards before making a decision.
You may need to start out with a secured credit card. These are credit cards that require you to put money up front, use the card and prove that you are responsible enough to make payments on-time. Making on-time payments is one of the best pieces of advice you can get. Interest rates can fluctuate very quickly when a payment is missed. Fees are usually extremely high and you can get yourself into a bind that you can’t afford to get out of. Always pay more than the minimum required and pay off balances as quickly as possible. Show your responsibility to your credit card company and your credit score will reflect your diligence. Once you establish your good credit score, it will pay off for years to come.

About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of student credit cards and information plus consolidation of student credit cards. For more information, please visit http://www.studentcreditcards.com.