Credit Cards for Students : Three Things to Know

While you are a student, the only way to make ends meet may be through the use of a credit card. However, before you indulge in the business or charging, there are three things that you should know about student credit cards.

1. APRs Vary. APRs are the cost of borrowing money. Though many credit card companies are more than willing to give you credit, that credit comes with a price. To save yourself money, you will want to choose a card that has low rates. Many student credit cards have a zero percent APR. These are definitely the types of cards you want. If you already have a card and you are not sure what the APR is, check the bottom of your credit card statement. If the rate is high, try negotiating a lower rate with the credit card company. If the company is not willing to negotiate, try moving your debt to a credit card with lower rates (and no annual fees).

2. Credit Cards Have Bonuses. Some student credit cards offer cash-back bonuses on purchases, such as gas and food. These are great credit cards for students, because you actually make money when you charge items, especially if you pay off the balance promptly. Other student credit cards offer air travel rewards based upon a point system. These type of rewards can come in very handy when you want to visit home, take a vacation, etc. Read More....

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College students need to handle debt, credit cards wisely

By Michelle Walbaum, USA TODAY
In tough economic times, success in college often depends as much on money smarts as book smarts. Risky financial behaviors, such as paying bills late or paying less than the minimum due, maxing out credit cards or taking out payday loans, for example, can jeopardize a student's college career.
Students who exhibit one or more such risky behaviors say they're less likely to graduate than students who don't take on such risks, according to a University of Arizona study published earlier this year.

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Poor money management spills over into other areas of students' lives, too, say researchers Joyce Serido and Soyeon Shim, who surveyed more than 2,000 freshmen at the university. Money problems can strain relationships with family and friends and negatively affect students' health and psychological well-being. Read More....

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Getting your student a credit card

Back to School » Getting your student a credit cardYour college freshman has checked off everything on the school buying list: laptop, clothes, alarm clock, backpack ... but what about a credit card, or a student credit card?More than three-quarters of college students have a credit card, according to a 2011 study from the Student Monitor, while 2 out of 5 are interested in getting one in the next year. The disturbing part about this study? One in 20 report their parents don't know they have a credit card.That's a good reason to start teaching them now about the power of plastic.

New credit card laws in effect

The Credit Card Accountability, Responsibility and Disclosure Act of 2009 has made it more difficult for students to acquire credit on their own if they are younger than 21. Because of the CARD Act, anyone under 21 years old can't sign up for a credit card unless they can prove they can make the payments (read: income) or has a co-signer who is over 21.Also in the law, students no longer have to resist the temptation of free gifts offered to them from credit card companies in exchange for an application. Before the CARD Act, credit card issuers could give out, say, free pizza if a student filled out an application for a credit card or student credit card.  Read More...

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A student’s guide to money

College is an exciting time, but suddenly becoming responsible for their own finances can be daunting for students. Here are 10 tips from Worcester-area financial advisers that can help students make smart money decisions in college — and beyond.

• Budget. Look at your monthly income, whether it comes from a part-time job or parents, and subtract your expenses, rent and bills, not just personal items.

“Budgeting helps keep you disciplined,” said JoAnn G. Morency, senior vice president of retail banking at Commerce Bank in Worcester. Read more...

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The Student’s Checklist to buying by using a Credit Card Correctly

All students get their own credit cards that they use primarily for building credit. Before using your student credit card to shop for coming from a shop or perhaps an web shop, exactly what things if you ever consider? Listed below is a checklist for students on how to buy with a credit card properly:

1. Check your provider and also the merchant’s policy. You ought to comprehend the merchant’s policy on reimbursement and earnings before acquiring, particularly when internet shopping. As a student credit cardholder, you need to also be aware about the order safety services provided by your issuer. While most shops offer a 30-day return, you could be qualified to return an item even after the merchant’s return assure has expired when you used a credit card to generate buying.

2. Purchase only from trustworthy retailers. When buying on the internet, it can be tempting the buy via an unknown merchant because of the cheaper offer. Guaranteed, you would like to save money but be careful that you don’t get ripped-off in return. It’s best to buy only from reputable merchants with a strong track record of history. Having said that, you may also think about buying from a new shop if there are convincing proofs that the supplier can be trusted. Read Full Story

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Tips to get a Bad Credit College Student Car Loan

If you're a college student looking for an auto loan, do you know the things you should think about to make certain that you could get the best offer? What if you might have bad credit? Are you able to still qualify for a car loan? If so, what else could you do to avoid being ripped-off through bad credit loan loan companies who might attempt to make the most of you? In this particular article, allow us to answer these questions one at a time.

Do You Require a car loan?

Are you wanting to drive your personal car at the moment? Before you apply for an car loan, think about your situation carefully. Could it be much better should you move to a boarding school to help you be nearby the campus? . Don’t forget which aside from your car loan repayments, sustaining a car isn't low as well. Gasoline expenses and repair charges may be expensive too. For this reason you ought to evaluate the expense involved before you take out a loan. Read More

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8 Expensive Things College Students Should Try to Avoid

If you’re in college then you’re all too aware how little money you have left after paying for tuition and fees. The last thing you need to do is spend what little you have left on pricey stuff you can live without. Here’s a list of 8 expensive things you should try to avoid spending your money on, or, worse, go into more debt for.

1. Cable TV
Times, they are a changing. What used to be considered a necessity is almost not even necessary anymore. Cable TV is expensive — anywhere from $50 to $100 a month or more — but with all the TV shows and movies that you can stream from the Internet to your computer game console, what’s the point? There are plenty of free streaming services (XfinityTV.com and Hulu.com) and paid streaming services (Hulu Plus and Netflix for about $8 a month) that offer a whole lot more content and most of it comes on-demand.

2. Campus Health Insurance
This one’s easy. If your folks have health insurance, then you’re probably covered under the plan while you’re in college. Even if you’re on your own, be wary of campus health insurance plans, some of which can have low coverage maximums that can leave you with thousands of dollars in uncovered expenses. Read Full Story

Credit cards and Halloween. What could possibly go wrong?

Ah, Halloween. Which is your favorite bit? Is it the excitement of planning your little goblin's trick-or-treat route, and the frequent references to your local sex offender database that such an operation nowadays requires? Or is it the reattachment of your finger tip, necessitated by the excavation of a particularly paunchy pumpkin?

Or perhaps it's the goodnight kiss in your kid's bedroom when it's all over, made only slightly less sweet by the knowledge that a candy-induced sugar rush on top of a monster-induced adrenaline rush is likely to mean that it will be some time before the sandman can get to work


Time to resurrect your credit cards?
The sandman might also take his sweet time when your own head hits the pillow. You may not be disturbed by the ghouls, ghosts and impossibly gorgeous vampires that occupy kids' imaginations. But the horrors you face are just as terrifying.

Thanksgiving is just around the corner, immediately followed by Black Friday. And, from that moment on, your chances of finding the time and the money needed to get through the holiday season without racking up more credit card debt may be scaring the daylights out of you. Read Full Story