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Why Students Need a Credit Card

Jul 24, 2008
Many students are regularly getting themselves in serious financial troubles every so often. This turns more horrible, particularly in terms of credit cards for students. However, there are still various good reasons for every college student to have a student credit card.

These cards help to enhance your way of life, as they provide convenience, freedom and financial security all in perfectly managed way to students.

Several students also use these credit cards to build their credit history, which can be useful after they graduate and confront the real world. If you make credit payment on time, it will eventually reflect in your credit report. Lending institutions will be more than willing to give loans, if you seek loan while buying an apartment in future.

Next, owning such type of credit card is very easy. You just need to be above 18 years of age. Apart from this, credit card companies only verify the financial standings by considering the total monthly income of your family.

Common Reasons To Obtain Credit Cards:

Student credit card helps you to buy journals, research papers, books, practical materials and all those study materials required for the completion of the respective course. Many students do not bother to buy these much-needed books thinking it might hamper their family budget. However, with these credit cards, you do not have to worry about it.

Apart from this, student credit cards are not like normal credit cards, which carry exhaustible fees. These cards do not have monthly fees. They also have low APR value for initial six months and allow you to make purchase online. Next, you can even carry the transactions such as balance transfer.

These credit cards are recognized in every state as well as internationally. It is easy to manage finances these credit cards, because companies allot a low line of credit to students. For instance, if the credit limit of student credit card is $1500, it means, that student can use the card to make purchase worth $1500 only.

Moreover, if you are studying in a top-rated university, and do not have time to step out and visit financial institutions or go through various Internet sites to locate credit card companies, simply inquire about the same from your college authorities. Many colleges at present are in touch with financial institutions as many students opt for educational loans.

Advantages:

Other distinct advantages of student credit cards are that it helps them to fulfill unexpected expenses on event of students' club gathering, practice, and project work. All these reasons are enough for you to obtain such a credit card.

Do not overuse the credit card, because whenever students make a purchase, they may have to pay certain amount as transaction fees, which will show up at the end of month. In addition, repaying the dues on time is also important otherwise your credit due will accrue and instead of improving the credit score, you may hamper it, which will become problem in future.
About the Author
Find a student credit card and more of Tom's work at FINDcollegecards.
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