The Citibank Visa Buying Card gives the State University of New York colleges an excellent alternative procurement system when making small cash purchases. The program adopted at SUNY is called the Procurement Cards. They are designed to help students manage their finances in a simple and efficient manner.
One can choose from the following cards – the MasterCard, Visa, or Diner's Club credit card. The student is also allowed to obtain a MasterCard Visa card if they choose. Students can obtain credit for purchases made with the cards in any store where Visa is accepted. These purchases are also applied to the student's bank account and do not show up on their credit report.
Students can build up their bank accounts in their name using the card. Any interest earned is deposited into their bank accounts. If the card holder fails to pay his or her balance, the balances in the other accounts are debited from the student's account. The student is responsible for all purchases made with the card.
The minimum monthly payment is usually set at $20 and is due on your card date. This money will be used to pay your expenses. If you fail to make your minimum payments, the balance in your account will be reduced. You can check your account balance by going to a bank and speaking to a customer representative.
You can also transfer funds to your account balance with the help of your bank account. To do this, you should contact your bank and tell them that you wish to transfer your account balance. They may require you to deposit a specific amount of money into your account each month in order to process the transaction.
One drawback of these cards is that the interest on the balance is added to the principal of the account, which means that you can accumulate quite a large debt if you do not pay your balance off at the end of the month. If you are unable to pay your balance by the due date, you should consider using a charge card with a higher interest rate. or a bank check as a form of payment instead.
The student credit cards are available to any American citizen who has not attained the legal age for adult citizens. Any person who has been a US citizen for less than three months and has not become a resident of the country is not eligible to apply for the student card. If you are accepted you will then be issued an account number. If you wish to apply for a Citibank Visa, you should call the number on the back of your card.
Once the account has been opened, you can use it anywhere Visa is accepted. These cards allow you to purchase items anywhere that accepts MasterCard, Visa, or Diner's Club. They are good for up to one year, but there are times when you have to close your account.
If you choose to maintain your account after the one-year agreement, you will be required to pay a yearly fee. However, most student card offers to provide you with a grace period after which you can open a new account for free. After this time, you will be required to pay the annual fee.