College Student Credit Card: Investment or Expense?
Life in college is not that really easy. Unexpected expenses could pop out anytime; expensive group projects and educational trips can surprise a student even if they are all part of schooling. What could worsen things is when funds are not available. As a parent, you make sure that your student goes prepared for college. But if you are a student and are looking for ways to make it through college, then here are tips on how you can apply for college student credit card.
Applying for a college student credit card is not really that hard. The only difference may be between applying for personal or business credit card and student credit card is the purpose or usage. That is why you must have the determination to get it through college, for you to get the best deal for a student credit card. There are two stages when applying for a college student credit card. The first stage is to select which credit card issuer or company to apply for. And the second stage is to make your college student credit card application complete.
There are several ways you can shop around for student card providers. There are websites that offer student credit cards, you can also ask your parents about a reputable credit card company or may visit yourself your local banks to check on rates and deals for student credit cards. Once, you are on any of these resources, make sure to check out on the introductory interest rate and how the interest rates will increase in the subsequent periods.
Introductory rates are just some of the perks of applying for college student credit card. But be careful with intro rates as this might even do you harm than good. Be aware that some companies offer very low introductory rates but will patch up their loss by increasing the subsequent rates. Look for hidden charges. Be careful with fees for late payments, or yearly fees that have something to do with your credit limit. Ask about how they charge the application or processing.
It also helps to ask for credit card account that requires minimal credit scoring or history. Most companies ask however for co-
signing with your parents. Once, you have a company, you can start completing your application by providing your personal information, address, social security number, contact info and a co-signer. And now you are ready for college. Just remember though that a college student credit card is not an income generator for you but an investment for your education and for building a good credit card record.
