Qualify for College Student Credit Card

Credit cards for college students are readily available, but thanks to the new laws of the Law on Credit Card 2009, which entered into force in February 2010 completely, they are not as easy to get as they used to be. Gone are the days when the representatives of the credit card company visited the campus that offer free items just to get students to take the application, the rules are different are now, and you can not do that. There are several things you should know before getting a credit card.

Learn about how credit cards work. This means taking some time and make sure you understand the billing process, what sanctions are final, new opt-ins in over limit fees, expiration dates, and how to avoid other charges or raise in interest. Be 21 years and have jobs.

Qualify for College Student Credit Card

new requirements for students make it mandatory that if they are under 21, they must be able to pay for charges out of their personal income, or have co-signer who is over 21. new law also declares that college students will not be able to charge any more than 20 percent of what they earn. When it comes time to raise credit limits, parents or co-signer will have to provide written permission.

Have credit history. In order to get better interest rates and larger credit line, it is important to already have had some kind of credit. Student credit cards often notoriously come with high interest rates, but having good credit previously will help you enjoy lower interest rates.

Compare college student credit card offers. Nearly every credit card company offers cards for college students. Each company also offers different interest rates, charges, and benefits. Find one that gives you best in each area. Consider carefully benefits, and get one with benefits that you can use to reduce costs of some regular expense.

Make sure credit card company reports to big three credit bureaus. When choosing college credit card, make sure that it reports to big three credit bureaus EquiFax, Experian, and TransUnion . This will help your build your credit score most in future.

We hope this information about “How to Qualify for College Student Credit Card” is really helpful to you as well as other information related to credit card

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How to Qualify for College Student Credit Card

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