Using Student Credit Cards In A Responsible Way

Uncategorized, credit

Below we have provided you with the information and insights on how to build good credit on your student credit card account, as bad credit on your college student credit card, which can cause you much heartache, whether it is a visa student credit card or any other college/high school student credit card. When you miss a payment on your college student credit card, you may receive a call or other correspondence reminding you of your overdue balance on your college student credit card debt. You must be sure to pay at least the minimum payment seven days before the actual due date printed on your monthly student credit card statement.

How can you protect your student credit card record?

1. Pay bills promptly to avoid late fees on your student credit card account.

2. Keep track of your charges.

3. Do not exceed your student limit.

4. Always avoid Over-limit Fees.

5. Report any change of address prior to moving, this way you will receive your student credit card bills right away.

Know Your Rights

The Fair Credit Billing Act for consumers applies to credit cards for students and can be used for:

• Billing errors on your college student credit card account.

• Unauthorized use of your student credit card account.

• Goods or services charged to your student credit card account, but not received.

• Charges for which you request an explanation or written proof of purchase.

If your student credit card is lost or stolen, you will not be held liable for any changes made by unauthorized persons.

If you see an unauthorized charge on your student credit card statement, write to the student credit card issuer within 60 days after the first bill containing the disputed charge. However, if more than 60 days have passed since you were billed for the item, you still might be able to dispute the charge if you only recently found out about the problem on your student credit card statement.

Send your letter to the address provided on the bill. Do not send the letter with your student credit card payment.

Always be specific in your letter. Give your name and student credit card account number, the date and amount of the charge disputed, and a complete explanation of why you are disputing the charge.

Always keep a record of receipt to document that your letter was received. You might wish to send it by certified mail with a return receipt requested.

If you follow these requirements of receipt, the credit card issuer must acknowledge your letter in writing within 30 days of receipt and conduct an investigation within 90 days. While the bill is being disputed and investigated, you do not need to pay the amount in dispute. The credit card issuer may not take action to collect the disputed amount, including reporting the amount as delinquent, and may not close or restrict your college student credit card account. If there was an error or you do not owe the amount, the student credit card issuer must credit your student credit card account and remove any Finance Charges or late fees relating to the amount not owed. For any amount still owed, you have the right to an explanation and copies of documents proving you owe the money. If the bill is correct, you must be told in writing what you owe and why you owe it. You will owe the amount disputed, plus any Finance Charges.

Student credit cards.com @ May 18, 2008