Credit, credit card and auto insurance rates have continued to rise steadily over the past several years. In recent years many auto and credit card companies are now advertising at their stores and even online stores as they continue their assault on car manufacturers by charging an ever higher rate of interest on old, damaged or defective goods.
The problem has to do with the fact that the average American auto loan is ‘135 dollars! In many cases these rates are even higher than the average credit card – which is good news for consumers!
However, this premium on car loans may soon be gone and the monthly payments are only -15 dollars more than those of the standard lending card! Why? Well, credit cards allow you to carry over substantial amounts of money forever, so even if you decide to stop using the card you will have a large loan that will take you between twenty-five hundred and thirty thousand dollars before you need to apply for another loan!
And that is before you know it you will be paying an outrageous $45,000 in interest on your new $6500 Toyota – saving you hundreds of dollars each year!
The same thing is going on with student loans. Every month for the past six months we have had students paying for anything between 12 and 18 dollars per day on credit from Bank of America, American Express, Citi, etcetera. Through January and February of this year we will be paying an average of $38,000 per student!
The very concept of a credit card to aid in the purchase and use of credit has become obsolete because the credit card companies have eliminated the use of individual student loans as a viable option in lending to young people because the companies are able to charge thousands to millions of dollars for student loans.
But education is not the only way that students can benefit from student credit cards. With StudentCreditCard, students within all universities/college campuses in the US have been able to obtain their first credit cards and get a great range of student benefits. Through StudentCreditCard, these cards can teach great curricular, shopping and planning skills.
It might seem like a rather expensive credit card to have, but it can actually bring in savings by making purchases in a variety of retail stores. The Benefits of StudentCreditCard include:
* A significant discount on everyday charges
* Expenses-in-good-money management’by paying off or paying off all billing from account’when credit card interest is charged at the end of the year
* Improved work-life balance
* Reduced interest rates on purchases or cash advances
With StudentCreditCard, you can:
* Refinance your debt at the end of each term; otherwise, interest can jump thousands of dollars
* Take payments at the end of each term, using the new APR! That’s right, the credit card will automatically take payments away from you before interest is charged on them – literally!
It also helps if you are studying for a Master’s Degree or more in his/her department. By taking a StudentCreditCard offer instead of a credit card, you are showing the credit card companies that you are able to take care of your financial responsibilities, rather than surrendering it to the rack mentality.
Student credit cards are really just a co-op offering their services up front. You don’t pay the fees for these services. The fees charged for using the credit card are low – so you can purchase all of your essential items with only interest being charged at the end of the billing period! That’s right, you’re paying less fees for interest- than using your new credit card with your existing company!
Also, college students have gotten a better understanding of credit issues and credit scoring methods. There are no worse ways to quickly obtain and use high quality student credit cards than by taking them the easy way by getting a credit card.
Credit Card Consolidation: Taking Control of Your Everyday Debts
Credit cards are a convenient and easy way to significantly reduce the number of debts as well as pay off debt in a more timely way.
One of the most basic features that we all recognize as a credit card is the fact that we are not really paying anything off. That is, our debt is being assessed on the account through the balance. If we make allowances for other obligations like the purchase of our own home, the costs that accrue once we have paid off all other debts are minimized. Some of these costs include an extension to our working hours as well.
In other words, if we were to give up using our credit card, the same circumstances that lead to debt, would suddenly render it almost impossible to do business with credit card companies.