Samantha Wilson

Without a guide, teenagers may have a hard time choosing from all the credit cards for students in the market. If want a credit card for student with rewards, then you’ll be glad to know that there are issuers that offer reward credit cards especially for college students.

Below is a guide that you can use before signing up for a student rewards credit card:

Which Type of Reward Suits Me? Reward programs vary from – Cash Back, Gas Rewards, Travel Rewards, and more. No matter how attractive the reward program may seem to be, you want to consider if it matches with your spending and lifestyle.

For instance, a lot of people are attracted to Frequent Flyer Miles credit card because they want to get the chance to fly for free. However, if you are an occasional spender, it can take you a very long time to get the free flight. If the card imposes a blackout date, you may not even get rewarded at all.

Matching a student reward credit card with your lifestyle is the key to enjoying the incentives it offers. Instead of focusing on the possibility of getting reward, be more realistic, and think about how you can benefit from your reward credit card without waiting for a very long time.


Read Full Article: Points to Ponder for Teens Applying for a Student Rewards Credit Card

How do we teach our children, especially teens, to become responsible enough to handle their own spending? Some say that simply telling kids to be financially responsible is enough. However, is it not better to let them experience it first-hand?
One way of letting your children handle their finances is by giving them a student credit cards.
Importance of Having A Credit Cards for Students
A student credit card is one way to build credit. This is great for teens since they can establish their own credit history while in high school or college. Credit history is important when applying for a loan or even a job. Having a good credit score will help immediately sends out a good impression to potential lenders and employers. They can also learn some of the basic finance skills they can make use of in the future.
Owning a credit card is convenient for college students, especially those who stay in boarding schools, away from home. With a credit card, they won’t have to always ask for cash from their parents each time they need to pay for something (i.e. projects).
Another advantage of having a student credit card is that students working during summer breaks can. pay off their bills from their personal earnings. This experience will teach them about the value of hard work and frugality.


Read Full Article: Student Credit Cards: First Step To Becoming Financially Responsible

Students, especially those who are in college, sometimes face financial difficulties due to the rising costs of books, tuition fees and materials for projects. It is really expensive to go to college but education is very important.

For college students who work during summer, credit cards for students can be of great help. You can use your credit card to purchase items or pay tuition fees when cash is not readily available.

A helpful tip: The best time to apply for student credit cards is now. Why? A New Credit Card Law is passed and will take effect on February 22, 2010. It does not stop students from getting a credit card, however, it makes student credit card application and approval a bit more difficult.

Applicants who are under 21 years old must have a primary card holder. The New Credit Card Law also prohibits credit card companies from marketing their products on campuses or 1000 feet within any campus and even school-sponsored events.

Read Full Article: Easy Steps When Applying For A Student Credit Card

Based on the 2009 study by Sallie Mae, a leading financing company, the average college student has at least four credit cards yet only 17% of these cardholders consistently pay off their monthly balances. Although having credit cards for students can be advantageous for building early credit history, teenagers must be very careful about how they spend with their cards. The modifications made to the Credit Card Law such as not being qualified for your student credit cards unless you have a co-signer or proof of independent income are supposed to reduce the number of bad credit cases amongst college students. If you're a student who has a credit card, what can you do to prevent bad debt and the effects it can bring? Check out these tips: Avoid carrying a balance. To avoid debt build up and maintain good credit rating, completely pay off your balance. Don’t be happy with just making the minimum due payment. It can save you a great deal by not paying the rate and additional fees. Read Full Article: Best Tips on Using Credit Cards for Students

If you're a student, the simplest way to improve credit history would be to get your first credit card. With the changes to the credit card law, it is now a prerequisite to have a co-signer. In this case, your parent or guardian can help you out. However, if you can show proof of your own income, you'll be able to obtain your first credit card without a co-signer. In the following paragraphs, we will talk about tips that you ought to take into account before applying for your first credit card: Go with a low rate card. Rates of interest vary from one student credit cards to the next. Rates can go from 15% to 35%. Look for a minimal APR credit card to protect you from debt build-up in case you have to carry over your balance to the next month. Look out for credit cards that have unbelievably low variable rate. Keep in mind that variable rates can increase at anytime depending on the Prime Rate. Read Full Article: Applying for Your First Credit Card