So what is student credit cards really all about? The following article includes some fascinating information about student credit cards--info you can use, not just the old stuff they used to tell you.
If you are student then I am sure you are on a budget, therefore before you apply for a credit card we are going to review a few cards, what the cards offer and how it can lead you into debt. We are also going over a few responsibilities to help you avoid getting in debt later.
The Citi cards are some of the leading cards offered today. Citi Dividend Platinum Select Cards are one of the few cards offered for college students. The card offers a 0% Intro APR up to six months and 5% cash rewards on qualified purchases, including purchases at pharmacies, gas stations, and grocery stores. There are a 0% Liability on fraud purchases and no annual fees. The cardholder will also have free online access to their account.
Truthfully, the only difference between you and student credit cards experts is time. If you'll invest a little more time in reading, you'll be that much nearer to expert status when it comes to student credit cards.
College students should be advised that after the trial period has ended, the APR increases. If you have, unpaid balance transfers or debts then the card will apply the new APR to your debts. This will include any charges on cash advances. The Variable Rate will increase after the trail to 16.99%, with the Standard rates being 21.99%. You must be aware that the cards Variable rate is subject to increase to 30.99% on default rates. The finance charges is average being $0.50, and all purchases in foreign countries will add a 3.0% charge. Transactional fees on 'cash advances is 3.0%' and the smallest amount is $5 per charge. Another 3.0% fees are applied to balance transfers, with the smallest charge of $5 and max of $75.
As you can see this card poses some threats, since if you fail to make your payments on time you will also pay fees, as well as overdraft fees. If you apply for the card and find that you can't meet the payments then you are subject to loosing your privilege of the card, and subject to poor credit ratings.
With this in mind, you may want to ask your self if you are responsible enough to maintain a stable balance in which you can repay. Are you ready to take on extra bills or do you intend to use the card to payoff your current bills? Is the card used to build your credit, or else to accustom you when the card is needed?
I hope that reading the above student credit cards information was both enjoyable and educational for you. Your learning process should be ongoing--the more you understand about any subject, the more you will be able to share with others students.
