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What Sets A Student Credit Card Apart From Other Credit Cards
By: David Riewe
Today, most parents contend that it is okay to let college students obtain their
very own credit card. Not only because they want to let their kids manage their
finances alone but also because having credit cards or a credit history for that
matter is extremely important.
With the advent of credit cards, most people would always be looking into
someone’s credit history before they can approve anything.
They even insist that without a credit history, people tend to become a total
outcast in the society, someone who is not worthy to enjoy anything and
everything without a credit history. That is why most college students would
struggle just to get one.
But what makes the student credit card different from the other credit card? Why
is it that it is highly classified as “student credit card,” and not just any
credit cards for that matter?
Basically, student credit cards do not make such big difference as compared to
the other types of credit cards. However, because it is a student credit card,
the benefits stated therein are completely focused on providing the student’s
their basic needs.
Moreover, student credit cards are entitled to lower interest rates especially
for students who have good grades. They can negotiate their interest rates for a
lower rate provided that they pay their balance dues on time and that they
maintain good grades.
On the other hand, student’s credit cards are actually secured credit cards. But
the difference that sets the students credit card apart from the other credit
cards is that their parents can set the credit limit.
Also, parents can let their child’s credit card to hook up with them so that
they can keep track on their child’s credit transactions.
Another thing that sets the student cards apart from the other credit cards is
that the student credit cards are mainly focused on and quoted for students only
considering the fact that they have limited credit history.
Normally, student credit cards have no annual fees and have credit limits that
are only set to $500. And according to some surveys of financial institutions,
the average student credit card annual percentage rate is 17.66% for purchases
and 19.67% for cash advances.
So, even if student credit cards are different from the other credit cards
because of its considerable interest rates, it is still a credit card. Thus,
students must really be responsible in handling them; otherwise, they are bound
to suffer bad credit history in the end.
About the Author:
David Riewe is a Publisher and Online Marketer. Visit his Credit Resources Blog
Below: http://www.push-button-online-income.com/creditcards/
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