College Student Credit Cards

Credit CardsCredit Cards

The most popular types of credit cards for students

These days, credit cards for students have become very popular because they allow them to reap the benefits of cards with low interest rates. In fact, some cards even charge a fee. Apart from the benefits, the cards also help students build credit. Today, there are a number of these types of cards to choose from, such as secured, unsecured, merchandise and prepaid cards. However, you should always choose the one that suits you the most. With, one must also keep in mind that credit cards come with many financial responsibilities. Therefore, you must use them wisely.

unsecured

It is a type of card that does not require a cash deposit from a simple purchase of credit line. This type of card for students have limited or normal credit, but it is certainly the most practical choice for students. In fact, it was designed to help students improve their credit profile. A good aspect of this type of card is that it offers 1% cash back as a bonus on every purchase you make through it. In addition, the card does not come with an annual fee. Above all, though it offers a reward of 25% once the monthly bill is cleared in time. You can redeem the rewards by check or directly into your account. Moreover, this type of card does not limit the amount of money you can earn.

insured

This is a type of card that receives money from a joint account by the cardholder. reliable secure cards and good provided they have a detail of your payment record to the credit bureaus to allow you to build credit. Details of your payment history is introduced into three credit bureaus and head of emails or text are used to send monthly payment reminders. This type of card usually charges about 20% of annual rate (APR) on purchases, but do not charge annual fees.

prepaid

Prepaid cards are quite similar to the secure and includes a checking account. As the name suggests, this type of card you spend the money you deposit on the card. For this reason, the monthly fee associated with this card is quite nominal.

important guidelines to help students to get a credit card

In the early days, it was very simple for college credit cards for students, because there were many sources available. There were too many companies free cards for students are offered by simply filling applications. Unfortunately, in February 2009, the right of the credit card was created in 2009 and has made new standards for students to qualify for a card. Now, the rules have completely changed and are so difficult that students find it difficult to qualify. Before going to get a card, students are expected to know a lot about the things of qualification and related, here are some guidelines you can take a look.

· First, the study of credit cards, how it works and these other things. Moreover, even if you need to understand the due dates, what procedures, billing delay penalties, limit fees are, how to increase their interests, ways to avoid extra costs and many other issues cards.

· Students must be aged over 21 and must have a job. The conditions of the new law states that if the student is a minor, below the age of 21, he / she must pay an additional fee of income or need to have someone as a co-signatory is above 21. Moreover, the law gives you permission to pay only 20% of profits and not more than that.

· When the student wants to increase the credit limit, he / she must obtain written permission from his / her parents or co-signer.

· For high interest rates or credit line, then you need to require a good credit history.

· Comparison of different types of card schemes and offers for students is also an important task. You will find dozens of card companies offering cards to students running colleges. As both companies are similar, each company would meet a different set of rules. Interest rates, the advantages and disadvantages of each company differ with another. You must take responsibility for the selection of a company that suits your needs. Try to find it for you and try to avoid the additional costs using certain advantages.

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