Student Credit Cards - Costs and Features
Student credit cards credit terms differ among card issuers, so make sure to shop around for the card that is best for you. Which one is best may depend on how you plan to use it. If you plan to pay bills in full each month, the size of the annual fee or other fees, and not the periodic and annual percentage rate, may be more important. If you expect to use your student credit card to pay for purchases over time, the APR and the balance computation method are important terms to consider. In either case, keep in mind that your costs will be affected by whether or not there is a grace period.
When student credit card shopping, you probably will want to look at other factors besides costs -- such as whether the credit limit is high enough to meet your needs, how widely the card is accepted, and what services and features are available under the plan. You may be interested, for example, in "affinity cards" -- all-purpose credit cards that are sponsored by professional organizations, college alumni associations, and some members of the travel industry. Frequently, an affinity card issuer donates a portion of the annual fees or transaction charges to the sponsoring organization, or allows you to qualify for free travel or other bonuses.
Student Credit Cards - Some Suggestions
Remember that there is a difference between a debit card and a credit card. The debit card pulls the money from your checking account at the time of transaction when you buy your merchandise. The credit card bills you at the end of the month. Remember to keep a history of your accounting and book-keeping. Good records are your best defense to any disputes that you might have with with an issuer.
Student Credit Card Shopping Checklist
Student credit cards shopping tips as as follows:.
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