If you are a student thinking about applying for a credit card, you are preparing to establish a credit record of your own. It is a good idea to start early. Whether in high school with a debit visa or mastercard that reports to the credit bureaus, or college, since a credit card will be essential once you’ve graduated. Setting up a respectable credit history is a good foundation which can help you tremendously later in life. Aside from banks, companies, landlords, and firms generally judge your credentials based on your credit rating.
What to look for in a good student credit card
It is important though to choose the right credit card that will work best for you. Do your research. Study everything the credit card offers. Consider how much the annual fees are, APR (annual interest rates), and penalty fees if you fail to pay your bill in time. Make sure that the credit card provides a grace period or else the interest you will be immediately charge right after you made the purchase. Be careful about signing up for a credit card just because of great introductory rate being offered. Make sure that this introductory period lasts long and not just catch to lure customers. Why not consider credit cards by credit unions accessible from the campus. They usually have practicable rates and fees.
Once you’ve decided on the best student credit card for you, your main goal is to be able to pay off your balances timely and avoid any interest build-up. Below are good recommendations to practice to help you stay out of debt:
Read Full Article: Credit Cards and Students
What to look for in a good student credit card
It is important though to choose the right credit card that will work best for you. Do your research. Study everything the credit card offers. Consider how much the annual fees are, APR (annual interest rates), and penalty fees if you fail to pay your bill in time. Make sure that the credit card provides a grace period or else the interest you will be immediately charge right after you made the purchase. Be careful about signing up for a credit card just because of great introductory rate being offered. Make sure that this introductory period lasts long and not just catch to lure customers. Why not consider credit cards by credit unions accessible from the campus. They usually have practicable rates and fees.
Once you’ve decided on the best student credit card for you, your main goal is to be able to pay off your balances timely and avoid any interest build-up. Below are good recommendations to practice to help you stay out of debt:
Read Full Article: Credit Cards and Students
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