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Find Your Best Student Credit Cards
By: Mary Williams iSnare Expert Author
It is normal when college students getting a credit card. It has become a fall
ritual. Parents should be vigilant in discussing the importance and
responsibilities that go along with having a credit card before the students
ever leave home. Don't get me wrong, I think it's a great idea that students
have their own credit card when they go away to school, but it is extremely
important that they get the right card and use it wisely.
Everyone knows that the best student credit cards are the ones that have low
spending limits. A high limit credit card given to a college student could be a
recipe for disaster. It should be made clear to the students that their credit
card is for emergency use only, unless they want to get a job and pay for any of
the charges that are made on it. That sounds like a good idea, but probably
isn't very realistic.
When finding the best student credit cards, it is imperative to seek out the
lowest interest rates that you can find. This is really obvious, but nonetheless
needs to be stated. Many credit card companies will offer 0% teaser rates for
the first six months. Beware of these rates because they're often followed by
exorbitantly high interest rates and then you are stuck. It is most certainly
not uncommon for students to carry balances for more than six months, so I
suggest that you avoid this option. Just about all student credit cards offer
some type of incentives such as rewards points or cash back incentives. This is
done for obvious reasons. The most common of which is to entice the cardholder
into using it more often. Overall it is a pretty good deal to receive rewards
for credit card charges as long as you bear in mind that this is not free money.
Whether you realize it or not, you have already paid for those points.
Students have an option of managing their account online which is a great
feature for students. For starters, just about every student has access to the
Internet and can easily access their credit card statements. The second great
reason for this is that the parents can also monitor the activity on the card
even if they are thousands of miles away. This kind of accountability for
impressionable young students is an excellent way to keep them from getting
themselves into trouble. It also keeps the parents from getting stuck paying
their kids huge credit card bills.
For a student credit card it is important that they have a lost or stolen card
feature that guarantees protection against unauthorized activity. Let’s face it,
sometimes kids are not as responsible as we might like them to be. Having this
protection goes a long way in easing the parent's mind when they hand their
student a credit card.
About the Author:
Mary Williams maintains many websites about billing, including Medical Billing From Home and Medical Billing Software Secrets. Find much more interesting articles and useful information. |
