Student Credit Card Identity Protection

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

Grocery Shopping for Students

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