Student Credit Cards with no Credit

In the world a number of people have different assumptions about credit cards. To some people this is the worst thing ever created and to others it is like heaven especially with all the benefits through the year.

If you are a college student seeking the get a credit card there are quite a few things to look for when doing so. The first thing is to find a card that has a low interest rate, if the rate is in the region between 15 – 17% that is fairly good, this applies especially for a student card.

A higher interest rate could pose a serious problem if you don’t pay your bills in full at the end of each month. All of this in short is to choose to card with the best options for you. When seeking a card you will find that many fees are involved such as late fee and almost anything they can charge for.

The card that has the most fees and charges is called a fee friendly card and one like this should not be applied for, as this could put your credit score at risk. Some of the cards that are on the market have splendid rewards, no matter what the particular reward is these cards should be considered first as this is a good thing.

You should not apply for a credit card that does not offer rewards to you. These rewards are issued in points and can be redeemed or can be used to help pay the monthly bill on the card.

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If you want to teach your teens regarding financial management then you can start by awarding them their first prepaid credit card. But of course before handing it to them, inform them what it is, how it works and their responsibility that comes along with it. Such a card is a good way for your student to stick to its budget. The traditional credit card is quite too much for them to handle. As a starter they might not be able to handle their budget well with the traditional plastic cards so that they might overspend.

A prepaid card is much better because they can only spend whatever money is loaded on it thus no worries of over spending and paying of interest rates for that matter. When you apply for it make sure to check all types of prepaid cards that are available. There are some that charge high interest rate and at the same time charge an annual fee. If you have this kind of card then you will realize that a big chunk of your money goes to the charges and fees.

There are prepaid cards where you need to deposit money to your account and this amount is held for your charge card so that now you can charge items to your card but still you are responsible to make monthly payments and if you miss any payment then you are charged for late fees and even in some cases you are charged interest on the loan. Even though you have deposited an amount in your account to be held for your card still it is considered a loan and thus you are still responsible to pay your loan on its scheduled payments. This type of prepaid plastic card will build you a good credit score in case you don’t miss payments.

There are the traditional credit cards too which offer overdraft features so that in case of emergency your college teens can always use it but then again this is not advisable for first timer. They might not be able to handle their finances well so they might accumulate debts fast thus a prepaid one is the best option for them. Parents will be worried no more and at the same time they can train their teens on how to use credit card responsibly and they will learn how to manage their finances.

A prepaid card offers protection to both parents and their teens. Research shows that choosing a regular card for their college students is a big frustration for parents. Figures show that a lot of college students make unnecessary credit charge debt and what is worst is when the charge card used is in the name of the parent thus it becomes a huge burden of the parent. Careless spending of your college teens can affect the parent so much.

But the scenario is even much worse if the piece of plastic is in the name of the student then the debt can accumulate fast and can affect the students credit score since the student is striving hard to pay the bills. It can be very difficult for him if he will get a poor credit rating.

Therefore the best way to help your college teens in its finances is through a prepaid credit card. You can certainly keep an eye of its spending activities.

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When kids get ready for college parents begin thinking if there student will need a credit card. You have to think about that before they get offers in the mail which they will get plenty of. In this article we will go over a few things that will help you decide if a college student credit card is really necessary.

You need to talk to your student about the responsibility of having a credit card. You want them to build a good credit, but if they misuse the card it could turn bad for them and their credit will be bad before they graduate from college. It is very important that they know to not get bad credit.

If you have a credit card in college it should only be used for college things, such as: books, room and board, food, gas, or any emergency that may come up. They may also get sick and need to go to the doctor and get medicine, so they may need to have the credit card for these types of things.

Teaching your student how to develop a good credit history is important. Some of the important things you should teach your child is they should pay their bills on time, what a credit cycle is, how carrying a balance can accrue interest charges, and how to handle a late fee. These are just a few things they need to know before they get the credit card.

Is a collete student credit card really needed? Yes it is if understand that it can hurt them if they do not use it correctly. It could effect them in ways like when they buy there first car, or purchase their first home. It will hit the interest rate, and the down payment. It will effect there future on loans and credit cards.

The best way to start is give your student a Visa or Master Card debit card. Parents can help control how the student is spending their money. It will help put parents at ease using a credit to pay monthly student expenses.

Your student is almost ready to be on their own the next step is getting them financially ready. By going over everything in this article this should help them be ready and keep their college student credit card in the positive. To pay their monthly bills will show them a lot of responsibility.

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So little Johnny or Janie is about to go off to college – yes? And you’re worried about how they’ll manage their money (that is to say, your money) and you want to get them some plastic to give them some financial freedom and control and to give yourself some security. So what should you choose then – a student debit card or a student credit card?

Let’s start off by understanding the difference between your basic debit card and credit card.

When we say a student debit card, we mean a prepaid debit cards designed just for students. This is a card that you “load up” with money before hand. You choose the amount and you add it to your card – that simple. Then, you use the card to buy whatever you want because the card is actually a Visa or MasterCard product and so it can be used all over the world just like any other Visa or MasterCard.

You use it to purchase magazines, clothes, airline tickets, groceries, etc. Then, when you’ve spent all the money you loaded onto it, you either forget about it or you load it up with more money and continue as before. The key point to remember here is that you spend only the money you’ve already loaded.

Now a student credit card on the other hand may look identical to the student debit card but here the key point is turned around. With the credit card you spend credit (think of it as money that you haven’t loaded yet). And you simply “load it” later.

So what’s the best choice?

Well, speaking as a parent of a near college age child (and someone who’s weathering the current financial storms) the choice is an easy one. I choose the college student debit card – hands down. Here’s why.

I’ve learned the hard way over my life that it’s best to save for things and then spend the money instead of spending it now and paying for it later. That’s because when you pay for it later you also pay interest charges unless you’re in that tiny, tiny fraction of consumers that actually controls their spending with an iron fist.

Most young people aren’t disciplined enough to control their spending impulses with a credit card. Their emotions will get the better of them and they’ll splurge on something or another and soon end up making minimum payments and pay gobs and gobs of interest charges which effectively make everything you bought with the credit card in the first place much more expensive. And you end up having less financial freedom, not more because you’re tied to the payments and you have less credit to use.

So when it comes to a college-age kid, I think it’s best to have a little discipline built into the card and that’s just what a student prepaid debit card does. It forces youngsters to pay attention to the cost of things and how much money is left in their balance because if they don’t, they’ll find out what it’s like to have their card declined and that’s an unforgettable and unsavory lesson in finance.

Oh, and the other great thing about student debit cards is that you (the parent) can purchase them in the first place and thus be able to keep track of every purchase your child makes even if they go to college in another country. You’ll also be able to load the cards up rather quickly in case of an emergency (from wherever you live) which is something you can never do with a credit card that’s reached its limit.

So in the end, it’s really no contest. Pick the credit card with the most inherent risk and ultimately the least amount of flexibility? Or do you pick the student debit card that has the least amount of risk and the most flexibility? It seems simple to me.

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Some of The Credit Cards and Offers:

Gasoline Rewards Credit Cards

OFFERS:   One can earn 5% cash back rebates on fuel purchases on buying fuel using this gas rewards credit card.

Business Rewards Credit Cards

Offers:   One can get cash-rebates of up to 5% on business related expenses like office supplies and computers.

Airline Miles Credit Cards

Offers:   Accumulate frequent-flyer miles and other bonuses by spending with an airline rewards card.

Cash Back Credit Cards

Offers:   Get up to 5% cash back on your groceries, gas, office supplies, and food.

Instant Approval Credit Cards

Offers:   Get a decision on whether or not a company will approve you for a credit card instantly!

Credit Cards for Bad Credit

Offers:   There are companies that issues credit cards even for very meager credits. This would be more useful to people relying on low budget savings.

Student Credit Cards

Offers:   College student can also start their savings and get credit cards. Companies offer special discount and other offers to student category especially to attract them. Gaining customers as students is investing in a long time business. Companies realize this concept well and get their work done easily.

Best Gas Credit Cards

Gas credit cards save energy and money spent on fuel. As in the table, they usually pay nearly 3% to 5% cashback rewards on gas. This payment depends on the bank account one holds. This savings would be accumulated until a nearly $50 is obtained. After $50, one can request check from the credit card company.

The top gas credit cards that are famous would be as shown in the

Discover Open Road Gas Credit Card

Offer:   5% cashback on all fuel purchases, 5% cashback on all automotive purchases, 1% cashback on all purchase

Description:   This card would be the most useful card if you own an automotive company or a travel agency. This would be the nicest card for any general purchase. No other cards offer such great cashback on both fuel an automotive parts and on a local shopping.

Chase BP Visa Card

Offer:   5% rebates on BP gas, 2% rebates on restaurant and travel, 1% back on everything else

Description:   To summarize the exact cashback they provide 10%rebates on gas and 4% cash back on restaurants and travel purchases line car rental, hotel reservation, air tickets.

Best Business Credit Cards

Starwood Preferred Guest® Credit Card from American Express

Offers:   This works mostly based on star points. You get one star point for every dollar spent. When you spend nearly $30000, you attain the Starwood Gold Status. This would be given as a offer such as, one night stay at a royal hotel or free flight tickets.

Description:   This card would be the most useful card if you own an automotive company or a travel agency. This would be the nicest card for any general purchase. No other cards offer such great cashback on both fuel an automotive parts and on a local shopping.

SimplyCash® Business Card from American Express

Offers:   They offer 3% cash back on office supplies, wireless services, and gas. About 1% cash back on almost all purchases made

Description:   This service would be suitable to persons doing business on food and wireless media.

Chase Business Rebate Card

Offers:   It offers 3% cash back on purchases at restaurants,gas stations and office supply stores,building supply stores and also home improvements stores.It provides a 1% cash back on all other purchases mase.

Description:   This is highly recommended for people making daily expenses.This would be highly beneficial for small office,home business and just started business.

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