College Student Card

College students are notorious for having poor credit scores. Failing to establish a good credit history before graduation and using college credit cards recklessly are two major reasons why students have problems with their credit. If you are a college student, treat your credit score like a class that you need to boost your GPA — and make sure that you get an A+.

Why Credit Scores Are Important to College Students

Credit scores are important to college students for a number of reasons. Hiring companies use credit reports to help determine eligibility for employment. Insurance companies, lenders, credit card companies and even landlords also use college students’ credit scores to determine eligibility for insurance, loans, credit cards and renting an apartment.

Build a Good Credit History in College

Begin building a good credit history while still in school. College students with no credit score will have the same problems after graduation as students with a poor credit score. Start establishing a good credit history by ordering a free credit report online to see what accounts are listed. This can be a very eye-opening experience for people who are seeing their credit report for the first time. Review the credit report for errors or mistakes and if any are found, contact the reporting companies immediately. If there are unpaid debts or other problems, work to get those fixed with the reporting companies to ensure that your good credit history isn’t at risk.

Students Improve Credit Scores with College Credit Cards

Students can improve their credit scores with a college credit card . When used responsibly, a credit card designed for kids in college builds a good credit history, a foundation that’s necessary for post-graduation. Kids can compare college credit cards online to read consumer reviews and to find the best student card for their needs.

If you have ever set foot on a college campus, you know that applications for college student credit cards can be found around every corner. In fact, the sheer abundance of them leads many students to believe that these cards are a normal, everyday part of student life. Before you go jumping onto the plastic bandwagon, however, there are a few things you need to consider…

They’re Not Your Friends

The companies offering college student credit cards are not your friends, and they’re definitely not your guidance counselor. Remember, any advice given by these companies or any information distributed by them will be provided with a slant.

These companies have one goal in mind — and that’s making money. The more money they make off of you, the better. Sure, they want you to be a responsible card holder and they want you to pay your bills on time, but they also want you to rack up debt so you can pay interest over the years. You need to keep that in mind when considering any student credit card offers.

You Have To Pay Them Now

Unlike your student loans, you have to pay your college student credit cards off while you’re in school. Student loans don’t kick in till after you leave school. Student credit cards kick in immediately.

Unless you can swing a job as well as your studies (or mom and dad are willing to foot the bill) you need to be very careful what you pay for with credit. Those small charges can add up quickly, and they can actually put you in financial ruin before your financial future has even started.

The Upside

So, does that mean college student credit cards are all doom and gloom? No, absolutely not. It’s just a matter of handling them responsibly.

A student credit card can be a great way to secure your credit rating before actually going out on your own. If you manage your cards responsibly, you can have good credit right out of school and getting a car and/or apartment won’t be as much of an issue for you as it is for some students.

Just remember, the moment that credit card is in your hand you become responsible for your financial well being. Don’t blow it. As they say, with great power comes great responsibility and college student credit cards are powerful (and potentially dangerous) tools.

Sending your child to college can be quite exhausting. If you have a child who studies on a college or university in another state, the distance between you and him/her means that you cannot always look out for his/her needs. You are aware that college studies are expensive nowadays yet you need to ensure that all the needs of your child are provided while he/she is attending college. Thus, such responsibility despite financial difficulties will compel you to do the best that you can to help him/her, and one of the effective ways to that would be getting him/her a college student credit card.

The issue regarding the use of credit cards for college students is not surprising. In fact, at the start of each semester of the academic year, there are many college students who receive spam emails saying that they are “pre-approved” for their college credit cards once they have decided to get one from these bogus credit card companies. Sometimes, they cannot resist on these marketing gimmicks.

As a parent, it is your responsibility to explain to your children the ins and outs of owning a college student credit card-the responsibilities and the consequences that they may face if they go over the limit of their college student credit card and failing to pay their financial obligations on time. It is time that you should be sitting down with your child and make them aware of the things that are attached with this type of credit cards.

So what are the best options for a college student credit card for your child? You may start on those credit cards with modest spending limit. Keep in mind that you will be the one to pay for their credit balances anyway, thus it is ideal if you will provide them college student credit cards with minimum credit limit.

Probably you want to take the option of getting lower APR or annual percentage rate instead of APR that are a little bit higher. However, it is recommended that you select a little bit higher APR so that you will be able to save substantial amounts of money later on. For instance, the introductory period for low APR will just last from 6 months to one year. After that, what’s next? Much higher APR, which can probably increase by as much as 100 to 150 percent of the introductory APR? If that will just be the case, it is much better to look for college student credit cards that have APR a little bit higher for the first year yet consistent on the succeeding years.

It will just be a disadvantage on your part if you will get college student credit card for your child that offers rewards or financial incentives. It will just entice your child to make more and more purchases using such card, which will result on financial burden of paying for high accumulated credit balances. In addition, it is better if you will get credit cards that can be managed online so that you will be able to see what your child is doing with his/her credit card and know if their credit account is now in trouble (the credit balance almost exceeds the prescribed credit limit).

Providing the needs of your child going to college is not as easy as giving them the college student credit card that they need. The most important thing here is the responsibility that comes in owning it. After all, you will make them realize that you are still the one who will pay for their credit card expenditures, isn’t it?

High school students and college freshman are always receiving all kinds of advertisements in their email boxes, on websites and even on television regarding information on applying for and receiving a college credit card. There are so many that offer great incentives that the student may not be able to say “no” to the gimmicks provided by the credit card companies such as the popular pre-approved for a college credit card.

Although it is generally a good idea for college students to have a college credit card, parents should take the time to sit and talk with their soon to college student to help them find the best college credit cards to fit their needs without all the bells and whistles. Parents should be sure their college students understand the terminology, interest rates, introductory offer, rewards, etc. of the different credit card companies. Not only should parents explain the ramifications of a credit card but also what it can do to their credit rating if they do not pay on time and how much more they will be spending in interest on any unpaid balances.

A college credit card can be set up with a modest limit for the first year college student to ensure they learn how to budget before they are given full reign with a larger spending limit, especially if the parents will be making the payments. However, if the college student is making his own monthly payments they will need to learn to budget so they will be able to pay their balance each and every month in a timely manner.

Parents should also aid their college students in searching for a college credit card with a low APR or annual percentage rate. If the student chooses a card with a 0% APR, have them read the fine print to learn just how long this APR will last. Most of the time, this is only an introductory special and will rise within 3 to 12 months. Some low APR college credit cards are much better in the long run than ones that only offer 0% in the beginning and then go up considerably after the introductory period.

Have your college student investigate all the cash back and points carefully before they decide on a card that offers this type of incentive. Many college students may not understand that these points may not be worth the cost and can expire if not used within a certain amount of time such as miles points.

One of the best parts about college credit cards is that today students can access their account online and learn if they are close to getting in trouble before it actually happens and they receive the statement in the mail. This can aid them in learning more about budgeting.

Not only will the student be able to access his college credit card account online but also so can his parents. This way if their student is in trouble, they will be able to help before it is too late.

College students should also only apply for a card that has a fraud and theft prevention feature. There are many other students living in dorms at colleges and you will need to protect your card from theft, which can be very hard with a college student’s busy lifestyle.

Credit cards are no longer new. Almost every bank offers credit cards with different rates, terms and conditions. Credit cards do not just help those professionals who are already earning a living but as well as those who are just beginning or preparing to become a professional – the college students.

In the internet, there are so many articles, advertisements and websites that offer credit cards. These media even do flowery promises and alluring words just to get the attention of the student and would later apply. They have their own notion as to why they do such things. Primarily, their reason would be necessity.

As a college student, owning a credit card will not just be a luxury but more so a necessity. There are so many things that a college student needs to buy. Books and other school materials are one of the things a college must spend money into. With very limited cash, a college student may not be able to actually buy everything that he or she needs. There are also payments that he/she must look into like the apartment or the dormitory where he or she is staying in, the school fees, foods, etc. Credit card may not actually be the sole answer for financial assistance to a student but it can help him meet both ends.

When speaking of credit cards, two words that must come into the parents mind are responsibility and discipline. Parents have a very crucial role to do in guiding and guarding their children, though already in college, in spending their money. There are plenty of college students that graduated in deep debt caused by irresponsible use of credit cards.

There are so many credit card offers that a college student may choose from. However, before that, he must put in mind that most of the student credit cards offered offers high APR as compared to regular credit cards. What are the best offers that a college student must think about or must choose that will surely be a help to his studies? Check out the following.

-Reasonable APR – In general, student credit card APR are quite higher than the regular credit cards This is a way for the companies of securing their funds since they cater to people with limited resources to pay them. However, there are lending companies and banks that offer reasonable APRs Reasonable in the sense that it is not so much higher as compared to unsecured credit cards but not low enough like a secured credit card.

-Cash Advance – having a card that can withdraw an amount from an ATM is a great help for college students. Not all of the needs of the student that can be purchased can be charged in the credit card. There are college student credit cards that offer such.

-Balance transfer – this is very helpful for students who have multiple accounts or has extended accounts from parents. This will help them keep track with their money and responsibly spend it.

-Freebies – most often, banks and other companies gives rewards and rebates in every transaction or to every purchase charged in your credit card. Such offer is also not just for fun but also a help.

Try to search for a credit card online. There are so many offers that credit card companies offer to college students. Since every college student have different needs and taste, banks and lending companies try to introduce a variety of student credit cards that will fit every need of a college student.

Parenting college students is a never ending responsibility. While there are many areas in which parents can assist these emerging adults, it is in the arena of finances that parents can often make a huge difference in the lives of their children.

As you parent your college student consider what responsibility your child has in the pursuit of their college education. This responsibility should be discussed. After college graduation, who pays this debt? During the college years, will the student have any financial obligation? Parenting a college student is a golden opportunity to teach financial responsibility.

Financial lessons should begin before the child leaves for college. Middle School and High School is when the lessons should begin. Parents tend to worry about a student’s expenditures and this is an appropriate worry. If parents don’t teach financial lessons to their children while they are still living at home, disaster is waiting in the wings during the college years.

Lessons Taught in the Launching Years

Before leaving for college, parents need to discuss financial expectations with their college student, including the plan for how many years they expect to be in college. This affects the number of credits they will need to carry each semester/term. The usual is 15 credits. Students taking 9 credits are taking up to 6 years to get an undergraduate degree. So it is important to talk about this so there are no surprises.

Prior to that first semester in college, parents and children need to discuss money management and the budgeting of funds. What are the expectations? Will they have a parents credit card? Do they have their own credit card? I personally suggest that only debit cards be used. No credit cards.

The discussion of finances prevents any surprises on either side, and it encourages open communication. Money management is very difficult initially. A parent might consider a weekly allowance until the student learns to manage their money. If they get their allowance monthly, it is often spent the first week or two. The last 2 weeks is when the whining begins… So, it is imperative for parents to set boundaries and to provide clear guidance. It is nice to set the student up for success, too. Do everything you can think of to help the student be successful. Adapting to college and being responsible for yourself is a big transition.

In order for the college student to establish independence they need to learn to handle their finances proficiently. So much is learned during the college years that is not taught in a class room. College Students need to be reminded of what their goal is. The goal is a college degree, independence and a career that they enjoy.

Spending money foolishly increases their college debt and does nothing to build their resume. It only postpones financial freedom.

Keep Your Eye on the Prize

Parents must remind the college student to keep their eye on the prize, which is graduation. At times, 4 years, seems like an eternity but it flies by. It is so easy to forget that student loans are just that. Loans. Students need to be reminded of this and when possible they should limit their college debt.

Credit cards are fools gold. The credit card companies send college students credit cards constantly. My recommendation is to forbid the use of credit cards. Period. To a young person, there is no reality to a credit card. Adults have problems with credit cards so why would we expect a young adult to have a good handle on using a credit card. It is a very difficult concept to learn because you cannot see the debt. The student only sees the minimum payment.

A debit card has a monetary limit to withdrawals. If the student receives an allowance, the parent can make a deposit, and the student can make the withdrawal. Parents can consider placing some financial responsibility on the students by making them responsible for their spending money. If you ask them to pay for the books, I am afraid books will not be purchased because text books are over priced and hard to resell.

Somehow, parents need to teach their young that difficult lesson, “there are no free rides in life.” This applies to a college education. Especially during the summer, a student can be expected to earn their spending money for the following year. When they are responsible for earning their own spending money, there’s a good chance they will be more careful how they spend it.

When parenting a college student, one of the best lessons a parent can give their child is a sense of financial responsibility. It’s one of the best winning strategies for success in life.

During these trying economic times, college students across the country are seeking credit cards that offer low interest rates, no annual fees, and valuable rewards that can be earned and used within a short period of time. At a time when everyone’s nerves are frayed because of uncertainty in the stock market, illiquidity in the credit market and the softening real estate market, one thing remains constant – the importance of building and maintaining a strong credit history. Student credit cards are tailored to help students with limited credit histories do just that. Visit www.goodstudentcreditcard.com for a list of some of the best credit cards for student applicants issued by Discover, Chase and Capital One.

Student applicants should understand that responsible credit card use can lead to a lifetime of low-interest rate loan opportunities. The operative word is “responsible” — if you can’t afford to buy it, you should consider saving up until you can. Stated bluntly, unless you have cash in your wallet to cover your credit card charges, you should do your best to exercise restraint. Credit cards are most beneficial to students who can afford to pay their balance in full every month. It is important to understand that credit card companies profit from compounding interest on unpaid credit card balances. If students use their credit cards and pay only the minimum balance every month, the probability is extremely high that they will quickly fall into the debt trap presently affecting so many Americans. It is a hole that is very hard to dig out of.

In these tough economic times, where credit is getting more difficult to come by, it is important to create a strong credit profile by establishing credit early and maintaining a consistent payment history. Student credit card applications can be completed online in a few short minutes. Just visit www.studentreditcardoffersonline.com to apply.

Nobody is immune to credit card debt. It gives fair treatment to everyone regardless of your station in life, students included. Because of this, college student credit card debt has come into existence and if students cannot be made aware of this early, they might carry the habit when they get regular cards later on.

Student debts could not be as huge as regular card debts can be because the credit limit is set at a lower level but warning signals are there.

Most college students are not yet very knowledgeable with the use of plastic money and managing it so there is the danger of them falling into debts. With this, credit/debit card suppliers saw to it that a lower credit limit is set because the students are still being initiated into the workings of the whole credit system.

College student card debt however can be avoided. Most probably, this is the student’s first plastic money of his/her own and this is the best time to train the student to use it with discipline. This will teach him/her a valuable lesson as well as the consequences of unwise use of bank cards. Even during student days, he/she must be made aware that having a card is not all benefits. There are pitfalls that must be avoided.

With this, it must be instilled in the minds of the college students that having a card does not mean having free money. Whatever amount any student gets as payments for purchases or services acquired, these are just “borrowed” from the credit/charge card companies and needs to be paid back when the bill arrives at the end of the month. This is something the students cannot run away from.

The student must also be made to understand that college student debt can be avoided by controlling spending habits because whatever purchases they make will get back to them in the form of a bill at the end of the month. These needs to be paid otherwise, the student will incur fees and interest rates for delayed payments.

Making a monthly budget and sticking strictly to it could help students to avoid overspending which could result in college student debt. This is also the best time for students to teach themselves not to buy unnecessary things just because they are on sale. Some students may learn too late that getting a second card will not offer any help at all. This is one factor why bills accumulate and they may build up before you will know it. One card is advisable for a student.

With proper planning and discipline, credit card debts can be avoided. Issuing plastic money to students is really a means of educating the students on the concept of credit/charge/debit cards and training them to use them properly to avoid future problems. It should serve to help students get easy access to cash loans in times of emergency or if the need arrives but it should not be an instrument to make the students sink in despair from acquiring college student debt.

Citibank offers a wide range of credit cards to meet the financial as well as various personal requirements of its clients. Thus, there are business cards, entertainment cards, frequent flyer cards, professional cards, reward cards, so on and so forth. College students too have been equipped with credit cards to deal with their financial problems.

The Citi Platinum Select Card for College Students is one among the very best student credit cards issued by Citibank. Better known as Citi Student Credit Card, the Citi Platinum Select Card for College Students is quintessentially designed for students with a good credit history. The platinum level benefits, at the same time, pave the way towards building a sound credit history, which ultimately helps one in every sphere of life.

Unique Attributes

The Citi Platinum Select Card for College Students has some quality features that are rare with other college students’ card. Have a look at the following features:

§ For the Citi Platinum Select Card, you never need to show a minimum income or even a co-signer.

§ With this card, you are entitled to receive 25% off and free shipping at Peterson’s (considered the leader in education information and career opportunities).

§ The card allows you to buy clothing, textbooks, even rent cars and buy/rent other items or services that you may need as a college student.

§ This card is also favored for its coverage, as it accepted at many locations.

§ The Citi Platinum Select Card for College Students allows you to make a single monthly payment for the most of your expenses, each month.

Key Features

The features of Citi Platinum Select Card for College Students are designed to suit the needs of college students. Go through the particulars below to get a clear idea:

§ The card offers you a commendable introductory APR of 0% for 6 months on cash advances, purchases, and balance transfers, until you default under any agreement of the card

§ The extra advantage of card is that you do not even have an annual fee

Extra Benefits

Citi Platinum Select Card for College Students comes with several innovative security measures, theft solution programs and several other benefits as mentioned below:

§ You can place your photo on your credit card in order to minimize the chances of in-store theft using your card. With Citibank’s strict adherence to the privacy policy, your personal information is always secure.

§ You are covered under a zero liability program so that you are not held responsible for any purchases you do not make.

§ There are other services like lost luggage assistance, emergency transportation coverage, etc.

§ Your also receive the assistance of medical and legal referrals while traveling in the US or abroad.

§ A $1 million automatic travel accident insurance protects you and your family members (all dependent members).

§ You will be able to ask for replacement card or additional cards. You are free to talk to a customer service representative any time to receive cash advances.

§ The access to online facilities lets you view past statements, pay your bill, check unbilled activity, receive email updates when your bill is due.

§ Any purchases you make with your credit card remain protected for up to thirty days.

College student credit cards are a new marketing phenomenon. Two decades ago, college students never had the opportunity to take their pick of the credit cards currently available today. But with the changing needs of students all across America, it was only a matter of time before college student credit cards became a common medium of exchange.

What makes college student credit cards different?
Their function is exactly the same as that of regular credit cards, except that many credit card companies recognize the special needs of college students and offer certain perks that you normally won’t find anywhere else. A student credit card, for example, can offer you a discount for the purchase of school supplies or other school-related materials. It can also come at a much lower interest rate.

Where can I find them?
Everywhere, actually. Your school campus, for one. Each September you’ll probably find credit card representatives setting up tables and kiosks on your campus grounds to offer their college student credit cards services. A pretty convenient opportunity if you decide to get your credit card this way. You can also take advantage of the free stuff these companies usually give away with each application.

On the downside, you could be limiting your options to what these credit card companies have to offer. More often than not, many of the college student credit cards that are marketed on campuses don’t always have the best rates. They may, in fact, be quite high.

To find the best rates, you might want to call up several credit card companies to see what their interest rates are or go online and shop around. You shouldn’t be pressured to get a college student card offered on campus if you could get one with a better APR online.

What good would a college student credit card do for me?
A lot, actually. It is a good and safe substitute for cash and is a convenient way to pay for anything you wish to buy. It can tide you over in case of emergencies when money is tight and you can access many services online and off with a simple swipe.

A college student credit card can also give you your first taste of financial independence and responsibility. After all, you will be the one who’ll be shelling out the cash to pay for your credit card bill each month. It can give you your first-hand experience in managing your money and teach you some valuable lessons in the process.

Is plastic always fantastic?
You may have heard of the horror stories, but much of the rap that college student credit cards receive is mostly undeserved. College student credit cards aren’t innately evil; it’s the way they are used that leads a student to a lot of financial trouble.

Many college students fall hard and heavy for the spending power that credit cards give. They go right ahead and charge a lot of stuff they don’t really need and can’t afford to pay for at the end of the month.

There are serious ramifications for this kind of irresponsibility. If a student allows his bad spending habits to continue, he could rack up a huge credit card bill that he is ill equipped to pay for. It’s not uncommon to find a student struggling with a huge credit card debt even before he graduates from college.

On the brighter side…
It’s not always a sad relationship. Just like any financial tool, a college student credit card can help you build and establish a good credit history, provided you use it responsibly. Remember that convenience comes with a price. If you have the discipline and can stick to a budget, a college student credit card may just work in your favor.