Student Cards for Good
Credit - Understanding The Choices
When people have
Credit, how do they
tell which Student Cards
to pick when there are so many options?
This article will discuss several kinds
of cards to offer a better understanding
of the benefits of each:
Cashback - With a Cashback
card, you may be offered a reimbursement equivalent to
a fraction of their purchases. For instance,
if a customer has been approved for a Cashback
offer that awards 5% cash back
on groceries, fuel, and pharmacy
items, as the rebates add up they can be redeemed. If you
use a hundred fifty dollars in gas, supermarket items,
and drug store purchases every 5-7 days, at
the completion of a 12-month period, almost $400
in rebates would be available.
Redeemable Points - In lieu
of rewarding customers with money back, some companies
offer points programs. Customers get
rewards every time the card is used. With each swipe of the card, the points
increase. After a certain amount of points add up they can be cashed in for all kinds of goodies including
free travel, gifts, subscriptions, and more.
Be sure to find out if the Student Cards
for Good Credit that you want will offer
a points program.
Petro Bonuses - Credit card issuers
are often times sensitive to the cost
of gas and want to compensate
people for making card purchases by giving them a prepaid
fuel card. As the card is used, points are accumulated. After you have earned enough points you are eligible for a
free prepaid gasoline card. The cool thing is, with some cards fuel points can be earned
when buying gas.
Points for Free Hotel Accommodations, Car Rentals, or Frequent Flyer Miles - When purchases are made with this kind of card, free travel points are earned. After an accumulation of a certain number of points, they turn into vouchers that can be used for discounted or free travel arrangements like rental cars, hotels, or even airline tickets. Frequent travelers really like these rewards.
0% Introductory Interest Rates - Finance charges are not applied on these cards for a specified amount of time.
The period where no finance charges are being applied typically lasts anywhere from 6-12 months.
Most times, folks use promotions such as this
to move their balance from their high interest Student Cards
to one of these, then pay it off while there are no finance charges being accrued. Making monthly payments on time is key.
When one payment is not received on time, typically
0% APR rates are changed to an interest-bearing
rate. Individuals that are approved for
Student Cards for Good
Credit, and have the chance to get a zero percent promotion
ought to think about this type of card.
Secured Cards for Building Credit - Customers that have one of these
simply inserts a few hundred to a few thousand dollars, depending on what they could afford, in an account specified by the secured card issuer.
This account serves as the security for the issuer. At that point a card is
sent with a credit max in
the opening balance of the interest bearing account that was created. Each time a transaction is approved your available credit is recalculated, affordable
monthly payments are computed, and payment plan
is is mailed. If the card is active an affordable repayment plan will be created. Secured Cards for Building Credit
are perfect because they perform like
ordinary credit cards allowing you
to do things that debit cards may not, like making travel accommodations including rental cars
that generally do not take check
cards. However, just like prepaid cards approval is ordinarily
guaranteed whether you have good credit or not. This is good because most
secured card issuers report your repayment history
to be added to your credit profile. This can be a terrific
way to establish creditworthiness by showing scheduled
payments whether you have Good
credit or not. Once you make
a certain number of consecutive timely payments, many times the limit can be increased without
asking for another deposit to the initial secured account.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no question about the credit limit. Similar to
a typical bank account, a certain amount of money is deposited into an account and that is
the amount that can be used for purchases. As the prepaid account
balance runs out, you can recharge it with an additional deposit. Reloadable prepaid credit cards
are fantastic for students, they offer the same flexibility as a check card, and they are generally granted to those that may not qualify to
acquire a traditional bank account.
Fast approval is normally not a problem despite
your FICO profile and there is
no need for the issuer to deal with Experian, Equifax, and TransUnion.
With all of the many kinds
of Student Cards
for Good credit and
incentives that are available, there is something for everyone. Seek
Student Cards that make sense for your situation that will allow you to control your spending habits. No matter which card you choose, be sure to
spend wisely and pay the bill on or before the due date. Excellent credit is a wonderful
To ensure that you keep developing an awesome FICO report, take heed to these easy directions:
1. Keep your bill at a percentage of the
card's limit. Simply put, don't
"go crazy". Most people with excellent credit make it a point to keep
a balance that is about sixty percent or less
of the available balance on any
Student Cards for Good Credit.
2. Keep the credit card bill paid on time. Even if you have to make just the minimum payment that is listed on your monthly statement, be sure to pay the bill on time. When payments are made more than 30 days late, that information may be forwarded to Experian, Equifax, and Trans Union. This is bad for your FICO score. As a result, customers may also have to pay an increased interest rate as a consequence of just one tardy payment. Hence it is wise to be mindful of the due dates.
3. Repay the balance completely every couple months.
When you make purchases, make it your goal to
pay it all off at least one time per year. Then once your balance is paid off it is smart to
begin creating transaction activity (like buying gas, shopping online, or making purchases) and pay it off once again after over the course of a few billing cycles, and keep utilizing this approach as you complete your monthly budget and annual financial plan.
This sequence confirms to the issuers
that you can be a great customer. You could also be rewarded with
a lower interest rate, higher credit limits, and a better FICO score.
Our affiliates are licensed in
one or more of these areas: Alabama
* Alaska * Arizona * Arkansas * California
* Colorado * Connecticut * Delaware * District
of Columbia * Florida * Georgia * Hawaii
* Idaho * Illinois * Indiana * Iowa * Kansas
* Kentucky * Louisiana * Maine * Maryland
* Massachusetts * Michigan * Minnesota *
Mississippi * Missouri * Montana * Nebraska
* Nevada * New Hampshire * New Jersey *
New Mexico * New York * North Carolina *
North Dakota * Ohio * Oklahoma * Oregon
* Pennsylvania * Rhode Island * South Carolina
* South Dakota * Tennessee * Texas * Utah
* Vermont * Virginia * Washington * West
Virginia * Wisconsin * Wyoming
for Good credit
are just a few clicks away. Act now
to start the application for a solution that suits