Student Credit Cards Can Help You Establish a Credit History
Credit cards are somewhere between a luxury and a necessity. They do offer a lot of convenience since one never need carry cash when a credit card is at hand. Some credit cards come with a lot of regulations, but other companies will offer high school and college students credit cards in the interest of helping them to establish credit. These student credit cards do come with some strings attached, but are more or less interchangeable with a regular credit card.
There are a lot of student credit cards which require a co-signer, such as a parent or guardian. If the student fails to make their payments, the responsibility falls upon the co-signer. In effect, the co-signer serves as collateral for the student credit card.
A student credit card will generally have a higher rate of interest (also known as APR) than would a traditional credit card. In many cases, the spending limit will be far lower, somewhere between $250-$800 on average. The limit is low since the students have not yet established a credit history and there for don't have a good credit rating. However, the cards still let students establish credit despite the low spending limits.
A student credit card can be a big help to a student who wants to make a large purchase. To do this, one would usually need good credit; but this is where the student credit card comes in handy. The student credit card can be used to establish and build good credit, making it much easier to get a more substantial loan when the time comes that one is needed.
Student credit cards are also a great way to teach students to handle their finances responsibly. The spending limit is less, but they are just like any other credit card in functionality. One the student can handle using and paying off a credit card, they will be capable of better managing all of their finances. These skills are something which will stay with them for a lifetime.
While student credit cards can be great and offer a lot to students, they still can be overused, just like any other credit cards. Students have to learn not to overspend - if they rack up more debt than they can pay, they will affect their credit rating and possibly that of their co-signer as well. Before using a credit card at all, students must learn to plan and stick to a budget.
Student credit cards however are for the most part a greatly beneficial thing. They teach responsibility to high school and college students and can be a lifesaver in case of emergencies. If you have a son or daughter in school, think about getting them a student credit card - it will establish credit for your child and teach them a lot about financial responsibility.
Related Tags: credit card, american express credit card, best credit card, business credit cards, best credit cards, low interest credit cards, visa credit card
Nick Makaryk is an Internet Publisher, Copywriter, and Founder of Best Credit Cards . A Free consumer credit card comparison site helps consumers find the Best Credit Card while avoiding high interest rates, charges, and fees.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- What's In Your Credit Report?
IdentificationYour name, address, social security number, birthdate and previous and current employm - Pros And Cons Of Low Purchase Rate Credit Cards
Low interest credit cards are outstanding until the time period runs out. Most of these offers promo - Bad Credit Loan Scams
There are several bad credit loan scams out there. These are usually aimed at those that don't have - Successful Credit Repair Methods
If you bad credit, you are not alone. Fact of the matter is there are tens of thousands in the count - Auto Loans Bad Credit: Bad Credit Is Not An Obstacle Now
Now a days, people want their own Cars. Though there are Public Transport Systems, they do not watch - Credit Card Services For Your Business
Co Branded Credit cards can be very beneficial for you if you have a business. These cards are onlin - Will The Actual Natural Motion Endure Large Food? -- Horizon Milk
The natural food business may be going through major work day in energy in the past 10 years. Becaus - Prices Of Dlp Lamp Alternative Parts - Dlp Bulbs
Since you will have to purchase a DLP> lamp each and every few years, it might be useful to know the - Dlp Bulbs -- Facts About Dlp Lamp Replacement
With regards to technical breakthroughs there aren't many things that are more popular than tvs and - Ways Which Anybody May Restore Their Very Own Credit Rating Easily - Credit Repair For Dummies
If you listen to a lot of the actual ads which are available regarding credit>, more than likely you
Most viewed articles in this category:
- Credit - Repair
To make the life more comfortable people purchase lots of things from clothing to cars and homes tha - Helpful Tips For Using Low Interest Rate Credit Cards
People with good credit ratings often receive offers for low interest rate credit cards. A credit ca - Benefits to Businesses Accepting Credit Cards
Many business owners report a sharp increase in profit when they begin accepting credit cards as a m - How To Remove A Bankruptcy From Your Credit Report
Credit report repair can be a long, tedious process and one of the hardest items to get removed is a - Putting Low Interest Rate Credit Cards To Work
If you have a solid credit rating, then you may receive offers for low interest rate credit cards. Y - Buying A Car With A Personal Contract Purchase Loan
If you are looking to buy a car but are unsure whether or not a new car is worthwhile, then you shou - Credit Repair - Tips And Tricks That Work
When you apply for credit, your lender will request a credit report from a credit reporting agency. - Bad Credit Debt Consolidation
No doubt there are numerous bad credit personal loans but hunting for a secured loan for bad credit - Before You Buy
Check out the market in the area you want to buy. Find out what price houses are going for and - Top 10 Keys To Creating A Good Credit Score
We know it can be unfair but credit is used for everything these days. Utility companies are even us
