While this article seeks to educate you on how to obtain a college credit card, it is important to understand that obtaining a college credit card is not a quick process made easy. How students get the credit card is somewhat complicated because many of the credit card issuers are not only talking about the benefits while they promise, but often are willing to overlook the pitfalls that must be known before you do eventually apply for a college credit card.
Advantages of having a college credit card
Getting the college credit card is quite simple – first you can qualify for the card if you are a U.S. citizen or permanent resident. Then, you can pay off the entire balance from your credit card each month, or even use the card to make purchases and make your monthly payment payment.
Applying for a college credit card
There are many different college credit cards that offer low or zero APR’s (Annual Percentage Rate) which will mean you will get to enjoy the convenience a college credit card has to offer. The benefits include:
-Higher purchasing power
-lower finance charges
-up to six months when you apply
-No annual fees
-high origination fee
-payment option is also available
The key to getting approved for a college credit card is having good to excellent credit, which is very important when you want to borrow money to pay for college education. When you have good to excellent credit, you will want to stop using the cards and develop a good payment form that will allow you to pay back the cards balances each month.
Building on the above-mentioned points, you can now purchase a college credit card. This way you will still get to experience all of the benefits offered by paying off your balance each month. This kind of college credit card is a perfect tool for students who have outstanding credit history.
How to Establish a Good Credit score
Here is the important part – establishing a good credit score. Once you have successfully built up your credit, your credit card issuer will be able to verify your creditworthiness. If your credit score stands high enough, then the interest rates you will pay on credit cards, will offset the principal you will be paying on loans for your education.
Once you have established a good credit score and have an adequate income to meet financing needs, it is important to apply for the low APR card. If you are a borrower who is willing to pay your balance in full each month, then this is important for you. Once you have been approved it will then be a good shot to apply for a pre-approved college credit card. Of course, you should always follow up on pre-approved applications if possible.
College Credit Cards – Don’t Let Student Credit Problems Play Into Your Own Jeanwalks
Nearly everyone has tried credit cards in their lifetimes – and if you get in a bind applying for either one the next time you apply for that ‘most’ attractive card may not be the best one. That’s why it’s so important to find the best possible deal on a college credit card for your future. And if in the end it doesn’t work out for you, perhaps there are other offers out there for you to consider.
As a student, you want to make sure that you’re on track to get a well-rounded life. So when you get a check for every month you’re paying off on student credit card debt, you want to make sure that it’s a card that you can trust. If you don’t, then you may end up paying over the amount of interest you’ll be charged in the long run, over and beyond. So make sure you know exactly what you’re getting into and you can trust that your card will offer you the best possible savings and long-term benefit on the part of that card issuer.
With this credit card in hand, if you’re applying for a different card or without one you may want to consider using one of the others as well. Just go over your balance on that particular card and fill it out properly so that its balance is reflected on the screen. Make sure that there’s an upper limit of about $100 of balances for each of those. Once you’ve checked it out and verified that any of its features will work well for you – and not just any interest-free period – it’s time to start thinking about which other options are right for you.
Whether you’re able to use just one or all of the others you’re eligible to get the best deal on a card like this can become very complicated if you’re not careful.