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Look the Cheapest College Credit Cards on the Internet |
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Written by Webmaster
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Saturday, 24 November 2007 |
By James Millner
 College credit cards have been criticized over the last five years; people incorrectly assume that credit card companies are targeting needy students. The reality is that a credit card is much like a weapon, in reliable hands it can be useful, but in the incorrect hands it can be misused. There is no denying that student credit cards are available to younger individuals, but the fact that most student credit cards usually need a co-signer ensures student credit cards are used under supervision. In addition, many student credit cards have a low credit limit making it hard for a student to spend overspend.
Compared to regular credit cards, a college credit card is issued to students that usually have no prior credit history. Credit card companies generally require the students guardian/parents to act as co-signers, ensuring a responsible adult is part of the entire process. A credit card company takes the credit history of the co-signer (student's guardian/parents) into account and then issues
a student credit card. A typical college credit card has a credit limit of ($1000 to $3000) and the credit limit can vary depending on the company that is issuing the credit card.
College credit cards have low credit limits because they are designed for costs like books, stationery and other expenses a student is expected to have on a daily basis. In addition, many university credit cards also have high APR s (Annual Percentage Rates or interest rates), making them unacceptable for purchasing costly items. From a students view, apart from being a source of much needed money, college credit cards also offer benefits like discounts at stationery stores and book stores. This helps students to put their college credit card to good use while saving cash on necessary purchases.
College credit cards also offer specialized reward point programs. For example, some credit cards give credit card holders the opportunity to earn reward points that can be exchange for discounts on airline expenses and fuel charges; students that travel frequently benefit greatly from such reward point programs. In addition, many student credit cards also offer 0% APR for a small period of time (as an introductory offer), students can thus use credit cards for making purchases while they settle down, without having to worry about high interest rates.
Most major credit card companies offer student credit cards, and college credit cards can be further categorized based on the discounts they offer. For example, some student credit cards offer fuel discounts, while others offer discounts on travel expenses. The best part of student credit cards is that students build up a credit history by the time they graduate and are eligible for a variety of credit cards after finishing school. Students can also change their existing college credit card into a full fledged credit card. College credit cards offer ready cash, discounts and specialized reward point programs that are beneficial to students. In a nutshell, a responsible credit card holder stands to gain a lot from a college credit card.
Learn about college credit card offers go to http://www.creditcardsofferz.com |
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Last Updated ( Saturday, 24 November 2007 )
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