Mon. Jan 17th, 2022

The innovative spending idea for the Gen-next is a Student Credit Card. Popularly knows as cards or the Plastic money these open a gateway to financial freedom to the contemporary youth. On one hand student credit card also provide an opportunity to an adolescent to start building up his credit profile but on the other hand these are known to generate a vicious circle of debts and money short falls.

Avoiding Fraud While Online Balance Transfer to Credit Card - Shifted News

Various companies and banks offer lucrative schemes to lure students to opt for credit cards. These offers vary as low interest rates; cash back rewards, no annual fees, etc.

Various credit card companies have specifically launched student credit card towards the adolescent and youth. This card offers a bonus towards financial freedom and an opportunity to live independently away from the parents. Many parents also open bank accounts and also provide supplementary card to their kids to offer independence of expenditure VCC buy . Most of the student credit cards require parents consent to offer a credit limit.

Student credit cards provide low credit limit as the students usually do not have credit ratings plus credit companies often suffer non-payment and bad debts problems with students. Due to high non-paying student population usually the interest rates are high on student credit cards. Student credit cards also offer various schemes to lure students towards more expenditure. Some cards offer cash-back offers at purchases from supermarkets, drugstores and gas stations. These cards also do not attract any annual fees on these cards. Free online account access and bill pay facility are other attractions attached to student credit cards.

A Student Credit Card offers the opportunity to enjoy the benefits of financial freedom by having credit. It also teaches the value and responsibilities that go along with those freedoms and credit limits. This venture is although a risky option from the service providers like banks and financial institutions, but it also is the first step towards building good credit rating. It is also first step towards learning to use your credit ratings and credit limits wisely.

In some cases many students are unable to take advantage of the benefits offered by the banks or financial institutions because they carry a balance on their credit card from month to month, paying finance charges that can go up to a whopping 23 percent. Many find it hard to resist using the old ‘plastic’ for impulse purchases or buying things they really can’t afford.

Student credit cards also offer various benefits to the students. Most of the student credit cards offer 0% introductory APR for first 6 months. These student credit cards also offer 0% liability to any unauthorized charges to the card that means if someone else uses the card there is no liability to the card holder. Usually student credit cards do not attract any annual fees moreover they also provide free online account management also.

Most of the student credit cards also carry reward point programs. The points earned for every purchase made can be redeemed for the gifts specified by the card company. Platinum student credit cards offered by some banks do not require any minimum income or co-signor for the card. Some student credit cards are exclusively designed for students enrolled at an accredited four-year college or university. These cards are universal entertainment student credit cards which not only have 0% APR for first 6 months for any purchases or cash advances but they also have no annual fees as well. These student credit cards carry reward point programs. The points can be redeemed for free CDs, DVDs, Movie Tickets, and much more. These student credit cards also offer free movie ticket with the card.

Why do we all grow up hearing that it’s important to save but no one ever seems to take that advice? Most people are in debt, that’s just a fact. Think of what debt really does mean. It means that we are committing money we haven’t made yet to things we have already bought or consumed. So we are always playing catch up with our finances. We make a certain amount of money every week but it never seems enough for us. Even if we make good money we still can’t control it. Why is that?

Credit cards are probably the biggest vehicle that drives us into debt. Notice I did not blame our debt on the cards, they are just the transportation we choose to take us to Debt City. Credit cards aren’t bad, they can be bad for us because they are convenient. We can’t blame our card because we signed up for it. So first let’s just take responsibility that we are the reason we are in debt and go from there.

I have a credit card and I use it. Like most people I have a family and sometimes things come up. Expensive things. Things I can’t pay for because I’m supporting a family of five on one income. Fair enough, I have explained my situation just as anyone else can justify why they have a card. However I have realized I don’t want to live this way forever. If you have debt you have stress. Join me in accepted that this is where I am but not where I will stay.

I had a light bulb moment the other day and want to share it with you. First you need to know that I work in a financial institution. I was talking to a customer who was making an LOC payment which means line of credit payment. A line of credit is exactly what it sounds like. It is usually a larger amount of money the bank has offered the customer to use just like a credit card. It works like a credit card in the fact that you can use as much of the limit as you want and make monthly payments the same as a credit card. So if you learn nothing else from this article you’ve learned something about a type of bank loan. I knew my teaching experience would come in handy someday. Back to the point this man was well into his fifties or even sixties so I figured he had a better grasp on his financials than I did. So as he’s making his payment I make a comment about how long until he paid it off. He responded, “I’ll be paying on this until I die, nobody can get ahead these days.” Really, is that true or is it a choice? I know it’s not true because of where I work I see people who are his age who have intentionally built a savings. This made me very determined to NOT be where this man is when I am his age.

Alright so back to credit cards. Right now I need a credit card but I am being smart about it. Do you know that with all of the credit card companies fighting over whose card you are going to use that some of them are offering 0% for 12 or even 18 months. If we are going to use credit cards we need to at least be smart enough to use them wisely. None of us have any business using a credit card that is costing us 10%-25% to use. That’s where the credit card companies make you pay literally. So if we are going to play the credit card game, master the game. Know what cards are offered and by what companies. You can use this thing called Google to find credit card promos decide which one is the best for you. Notice I didn’t say ten. Having ten credit cards is just a train wreck waiting to happen if it hasn’t happened yet. Limit yourself because the more cards you have the more you will be tempted to use them. Having too many cards is not good for you or for your credit score. Use one or two cards that offer you the best value. They will be easier to keep up with when making payments which decreases late payments which leads to lower credit scores. Control your cards, don’t be controlled by them.

A business or a corporate credit card can help you obtain the buying power you need to run your company and keep your business’s expenses on track. Some cards also reward you in the form of cash back or airline miles for all your business purchases. While the business lending landscape has been constantly improving over the past few years, it is still challenging for companies that have less than stellar credit histories to obtain credit. Many banks are not willing to provide loans to business owners who have bad credit scores. Here is everything you need to know about getting business credit cards with bad credit.

Advantages of bad credit business credit cards

There are several advantages of such cards including, avoiding mix-up of personal and business transactions, easy management of employee spending, easy itemization of business expenditures, a good start for establishing excellent business credit, and huge discounts!

Budding entrepreneurs with bad credit usually hesitate to apply for a corporate credit card and small business loans. They believe that their poor credit history may be a stumbling block in their path to obtain corporate credit. However, there are still a wide variety of options available if you’re an entrepreneur with bad credit.

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