A few guide to student credit cards @ Wearestjohns.com

A few guide to student credit cards

Written on November 30, 2008 – 3:50 pm | by admin | | Tags: credit cards, guidance, school, student

student credit cards

Do you have credit cards? Most of us using credit cards for easily transaction and payment. Unfortunately, credit cards are known to have their disadvantages. Actually, credit cards can be a very helpful financial tool when used wisely. If you are a student, credit cards also very helpful used when it is most needed, for the self-supporting who is struggling to make ends meet. Sure, when in the right hands, credit cards can become helpful financial aids too.

Talking about student credit cards, there are some truths about a significant number of university and college students have found themselves facing serious problems associated with their usage of school credit card. However, there are some vital and useful resources available to students who have found them facing these problems. There are also some truths that should know about a self-supporting student applying for a credit card. To know what these credit card benefits is important, so that one may be able to maximize and enjoy these benefits to their fullest.

Usually, student credit cards have bonuses. These bonuses come in the rebates form, cash-back on purchases made on daily commodities such as grocery, food and gas. For students who pay their debts on time, these are truly beneficial that allowing them to get rebates on some items charged. Students must know about Credit scores, because it?s important. The higher the credit score you have, the more chances that new credits will be extended by the credit company. There are five criteria which affect credit scores, and these are the amounts owed to credit companies, the credit holder?s payment history, application or acquisition of new credit lines, length of credit history and the overall mix of credit types.

One more thing that a student must know about. APRs are the annual percentage interest rate of the credit cards. This is how much interest you pay for every charge you make using the card. The lower the APR, the better.

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2 Responses to “A few guide to student credit cards”
By Jennifer on Dec 1, 2008 | Reply

The deal with rewards is, you have to spend with credit cards in order to benefit from the rewards, and when all opinions on the wise use of credits is only to use in emergencies. Do not use credit cards on food, bills, etc.

One thing to remember when paying with credit cards, is the price you pay at the store, is not the actual price you owe. Say a banana costs you $1.00, well you are not paying $1.00 you have to add the creditors interest on top of that. Everytime you pay with a credit card, you are paying more than the actual list cost.

So, when they encourage with rewards by spending with credit cards, you are spending more money and eventually finding yourself deeper in debt.

Wiser is to use debit cards and don’t be suckered by rewards. Hey, just because it’s a deal, doesn’t mean you have to take it.
By Betty on Dec 10, 2008 | Reply

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Betty

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