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Finding the Perfect College Credit Card

Jul 15, 2008
Before you get the first university scholarship, certainly you will be flooded with offers from numerous credit card companies. Student credit cards are very helpful, while you move from school to college, since they act as a lifesaver for covering all your college expenses along with the traveling costs.

The process to choose a right student card begins by filling a simple application form. Banks and hordes of card firms compete against one another making an effort to sell these credit cards.

Even some credit firms offer freebies such as food and clothing, when you agree to sign up with them. Next, always avoid choosing a card for student based on such forms of giveaways, because this small decision can take you to a hazardous way. Hence, decide based on thought, not by those attractive giveaways.

Things to Remember To Choose A Right Card:

Never consider filling up an application form obtained from a single credit card firm. Instead, get more than three application forms from three different credit card companies and then carefully compare what each of these companies offer. If you find this system to be boring, shop online to find a best deal on for such credit cards.

Perhaps, these companies may give you credit card or offer with the same credit limit, so how will you decide wisely in this case? Simple, just find out the rate of interest offered by each company, or else whichever card seems to be within your budget limit, and accordingly choose the card.

Cost of the credit card also matters a lot for you in choosing the right one. The major cost involved in a credit card is its annual fee and the other is of course, the APR or interest rate. Try to find a card for student, which has a zero annual fee, as it will be the best choice to manage your day-to-day expense of college.

Generally, rate of interest charged on this credit card is usually around 12% to 18% on the outstanding balance. Apart from rate of interest, there are some other factors too, which may make a credit card company more or less appealing.

You can also find some of these types of cards featuring your college or university's badge. Even, you can get such a credit card working on point system. You can redeem these points for rewards such as for traveling or buying. However, you earn good points, if you pay the minimum due amount duly and use the card within its credit limit. Some credit cards also offer cash back, but they come with certain terms and conditions.

It is easy to get a right college credit card, if you follow all the above-mentioned points. Next, do not pay heed to those sales pitches recommending these cards, since they may not give all those details that help to make a wise decision about choosing a right student credit card for you. In the end, if you're responsible with your decisions, you shouldn't have a hard time at all finding the right card.
About the Author
Find a student credit card and more of Tom's work at FINDcollegecards.
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