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Student Credit Cards Will Be A Thing Of The Past And Here’s Why | student credit cards

There are so many different student credit cards out there. Many of them charge exorbitant annual fees and annual percentage rates that are simply not affordable for most students. When comparing your many options, take special care to consider these facts: The APR. The APR on many student cards can actually be quite high. If possible, find credit cards that offer no or low APR.

The first thing you should look at is whether or not student credit cards offer some sort of rewards program. These rewards can help you save money. Some rewards programs are specific to one business such as gas stations or grocery stores, while others are general like a movie ticket or concert tickets. Look at the specific program rewards and choose those that will benefit you the most.

The next thing to consider is whether or not student credit cards offer any type of cash back or rewards programs. Cash back programs often come in the form of travel miles. However, not all rewards programs are equal. Before you apply for any cash back or reward program, do some research about the cash back companies so you can get the best deal.

The interest rate on student credit cards is very important. Student card issuers often have very high interest rates because young people usually have a bad credit rating. However, some student card issuers have lower credit limit requirements. In other words, they may lower your credit limit but you will pay more interest. Before you apply for any card issuer, find out how much your limit will be and what your payment will be each month.

You also want to start building credit with student credit cards. If you want to build a good history, you need to start applying for regular credit cards as soon as possible. Do not wait until your credit rating is poor. If you wait, your credit rating will only get worse. Start building credit right away, by getting one or two student credit cards. Then, as you start building good credit, you can start applying for regular credit cards.

When you apply for a student credit card, you need to make sure you meet the application requirements. Apply, to at least three to four cards and make sure each card offers you a unique line of credit. Many times, many college students qualify for special credit cards that have lower interest rates. In addition, if you get lucky, you may qualify for a more generous credit limit.

If you do qualify for one of the special student credit cards, make sure you use it very carefully. You want to start building a solid history with these cards. After you graduate, you should transfer your balance from your high interest traditional credit cards to the cards with lower interest rates. This means you should pay off the balance every month. If you do not transfer the balance, you can continue to live on high interest rates. With a solid history and a low balance, your credit history and your ability to qualify for a higher credit limit increase.

It does take time to build credit, but it can be done. Do not wait until you get buried in debt and start receiving bad marks on your experian credit report. Get your priorities straight first. If you want to successfully apply for a student credit card, you need to do your homework and do it well. Get a good credit score as soon as possible, build credit, and then start building a nice history.


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