Student Credit Cards for Prime
Credit - Knowing The Choices
If folks have
Credit, how will they
know which Student Credit Cards
to pick when there are so many options?
This article will break down a couple kinds
of cards to give you a helpful understanding
of the pros of each:
Money Back - With a Money Back
card, customers are offered a rebate that equals
a percentage of their purchases. For example,
if there is a Money Back
option that provides 5% cashback
on groceries, fuel, and pharmacy
items, as the rewards accumulate they earn cash value. If you
pay one hundred and fifty dollars in gas, groceries,
and drugstore items every 5-7 days, at
the conclusion of a year, about four hundred dollars
in cash would have accumulated.
Redeemable Points - In lieu
of giving cash rebates, some issuers
present customers with points programs. Customers get
points for making purchases. As purchases are made, the points
add up. When you earn enough points they can be redeemed for great stuff, such as
free rental cars, gift cards, subscriptions, and so on.
It is important to know whether or not the Student Credit Cards
for Prime Credit you apply for offers
a points program.
Petro Bonuses - Card Issuers
are often times considerate of the price
of gas and will reward
consumers for using their credit card by offering them a prepaid
gas card. As purchases are made, points are earned. Once you have completed enough transactions to accumulate a certain amount of points they can be redeemed for a
free prepaid gas station card. The cool thing is, with some cards redeemable fuel rewards can be accumulated
when buying fuel.
Points for Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Travel Miles - When these cards are used, customers can earn frequent traveler's points that can be redeemed for free travel. Once enough points are accumulated, 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.
Zero Percent Promotions - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
This time period usually spans six months up to a year.
Typically, customers are advised to utilize this interest-free period
to transfer outstanding balances from their interest bearing Student Credit Cards
to one of these and create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Paying the bill on or before the due date is imperative.
When a single payment is paid after the due date, most times
zero percent APR rates go up to a different
rate. Folks that are applying for
Student Credit Cards for Prime
Credit, and have the opportunity to sign up for a 0% promotion
ought to think about this card.
Secured Cards to Re-establish Credit - People that have this type of card
would insert a specified amount of cash into an account that can earn interest while it is there.
This "is why the card is called "" secured"" ." Once the account is set up, a credit card is
offered with a line of credit equal to
the opening balance of the interest bearing account that was created. When purchases are made the amount of that transaction is deducted from your available credit balance, low rate
regularly scheduled payments are calculated, and payment plan
is given to you. Just like any other credit card, when you use it you will receive a payment plan. Secured Cards to Re-establish Credit
are terrific because they perform like
regular credit cards allowing you
to do things that debit cards may not, like making travel arrangements including vehicle rentals
that usually do not accept debit
cards. When applicants have bad credit approval is usually
guaranteed regardless of your credit score. However, keep in mind that most
secured card issuers report the way you pay your bill
to Experian, Equifax, and Trans Union. This can be a good
method to show creditworthiness by showing scheduled
payments no matter if you have Prime
credit or not. After paying
a certain number of consecutive timely payments, many times the limit can be increased without
asking for additional collateral.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no question about the credit limit. Similar to
a regular bank account, you put money in and this becomes
your spending limit. As the prepaid card
balance becomes depleted, it can be reloaded with more money and used again. Prepaid cards
work well as gifts, purchases can be tracked, and they are a great solution for those that cannot
acquire a normal bank account.
Quick approval is usually not a problem regardless of
your bureau report and there is
no need for the prepaid company to contact the credit bureaus.
With all of the different varieties
of Student Credit Cards
for Prime credit and
bonuses that are available, there is something for everyone. Seek
Student Credit Cards that offer rewards that match your lifestyle and spending style. Stay smart and always
try to keep your purchases at less than half of your credit limit and make more than the minimum payment every month. Awesome credit is a wonderful
To make sure that you keep growing a prime FICO profile, follow these simple tips:
1. Keep your bill less than the
card's max. Simply put, do not
"max out". The banks encourage their cardholders to keep
a bill that is no more than forty percent
of the maximum spending limit on any
Student Credit Cards for Prime Credit.
2. Do not default on payments. Even if you cannot make more than the minimum payment due, pay it. When payments are made more than 30 days late, it could be told to Experian, Equifax, and Trans Union. This negatively affects your FICO report. Additionally, when this happens you may also experience more points on the card's interest rate as a result of a solitary past due payment. Thus it is recommended that consumers make this bill payment a financial priority.
3. Pay the balance completely every couple months.
When you make purchases, do your best to
pay it all off at least once a year. Afterward, it is okay to
start using the card again and after a couple of billing cycles, pay the whole thing off just like you did before, and keep utilizing this approach as you complete your monthly budget and annual financial plan.
This sequence indicates to the lenders
that you can be an excellent credit candidate. Some of the other benefits of this approach are
a lower interest rate, a higher credit max, and a better credit profile.
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Student Credit Cards
for Prime credit
are easy to find. Click now
to apply for a solution that suits