Student Credit Cards – Merits and Demerits
Credit cards for students have both advantages and disadvantages. Parents and students should be aware of the pros and cons of student credit cards. Some of the merits and demerits of using a student credit card are discussed below.
Easy solution to cash crunch: If you are staying away from your parents or living in a boarding school or in hostel, the student credit card will be very helpful. It is an easy solution to an unexpected cash crunch and becomes invaluable in times of emergency. The credit card can make you more self-dependent and free from worry of funds. It is like all time money.
Put a limit on spending: Student credit cards generally have very low credit limits and this will place a restriction on the total spending, forcing the student to think and plan their expenses. It will make users/students understand budgeting and let them think what is necessary and how money can be spent judiciously.
Parents can monitor children’s expenditure: If the student credit card is opened on joint ownership between student and parents, the bill will come to both of them. This way parents can know what way their son/daughter is spending. If parents find any unnecessary expenses, they can guide their children accordingly. It will help both the parents and students.
Incentives: Student Credit card providers woo students with various lucrative offers like rebates, cash back etc on the things students buy most, like books, CDs and clothes. You can take advantages of these offers. Moreover, student cards usually have very low APRs and other fees.
Credit record: Student credit cards are great opportunities for students to start building a good credit history. If you use your card wisely then you will build up a credit history that will help you to secure loans and mortgages more easily in future life.
Safe shopping: A student credit card enables you to shop safely and securely online. It is easy to carry and there will be no fear of losing money or becoming a victim of theft if you carry a credit card to the market. Even if you lose your credit card somewhere, you can inform the card company immediately and that will be made invalid. Later you can ask the company to issue another card in your account.
Easy to obtain: The other advantages of student cards are that they are fairly easy to obtain. There are hundred of banks and lenders offering credit cards without any charge. Moreover, the card providers do not ask for credit history of the applicants. Simply apply and the card providers will do everything till you get the card at your place.
Credit card can put you under debt trap: If misused, the credit card can put you under debt trap. If you do not pay your balance, then you will be charged high levels of interest and quickly create debt for yourself. These rates on student credit cards are often higher than that on other credit cards, and can outweigh the discounts and benefits you get.
Over-spending: There is also the danger that you will just spend too much money, and put yourself into debt that will harm your credit rating rather than improve it. Once you come under the debt trap, it would be difficult to manage your finances and this would harm your studies as well as put an unnecessary burden on your normal personal life.
Therefore, if you think there is any chance that you will not be able to handle the responsibility associated with a credit card, then, probably a student credit card would not be the best idea for you.
CreditMe.com is a free online credit cards review and application website. We offer credit cards selection from visa, master cards, discover, american express and many others. We have quite some categories and hundreds of credit cards selection to fit your need. Apply for a student credit card at CreditMe.com now.
32 Comments:
I just like the helpful info you supply for your articles.
I'll bookmark your weblog and take a look at again here regularly. I'm fairly sure I'll be informed lots of new stuff right here! Good luck for the next!
Visit my blog; slipperchairs.net
Look into my blog ... latest fashion news
Link exchange is nothing else but it is just
placing the other person's blog link on your page at appropriate place and other person will also do same in favor of you.
Also visit my blog post ... interior design blog
Here is my web page :: modern interior design ideas
Hello, just wanted to say, I enjoyed this
post. It was inspiring. Keep on posting!
Look at my weblog car buying service
Also visit my weblog - used car buying tips
I do accept as true with all the ideas you've introduced on your post. They are very convincing and can definitely work. Still, the posts are too brief for starters. Could you please lengthen them a bit from subsequent time? Thank you for the post.
Check out my page - http://stipplingbrush.com
Feel free to surf my web site : home made beauty tips
I really like what you guys are up too. This type of clever work and
reporting! Keep up the amazing works guys I've incorporated you guys to my own blogroll.
Here is my homepage: home improvement do it yourself
Check out my website - Umbrella Holder
obviously like your web site but you need to take a look at the spelling on quite a few of your posts.
Many of them are rife with spelling problems and I find it very troublesome to tell the reality then again I will
certainly come again again.
My homepage ... fall fashion tips
My web site > guys fashion tips
This is really interesting, You're a very skilled blogger. I have joined your rss feed and look forward to seeking more of your great post. Also, I've shared your web site in my
social networks!
Here is my page vegas travel tips
Also see my website > india travel tips
You really make it seem so easy with your presentation but I find this matter to be actually
something that I think I would never understand. It seems too complicated and
extremely broad for me. I'm looking forward for your next post, I will try to get the hang of it!
my page ... http://bowlingpartyfavors.net
Also visit my webpage ; fitness classes
Hi to all, how is the whole thing, I think every one is getting more from this web site, and your views are pleasant in favor of new
viewers.
Visit my web page total fitness
My site - womens fitness
Hi to all, how is everything, I think every one is getting more from this web page,
and your views are fastidious in support of new visitors.
Feel free to visit my weblog ... http://turquoisebeads.net
My web blog ... new fashion trends
Thanks for another excellent post. The place else could anybody get
that kind of information in such a perfect method of
writing? I've a presentation subsequent week, and I am on the search for such info.
Check out my webpage http://directpointphotography.com
My blog :: photography basics
Thanks in support of sharing such a fastidious idea, article is fastidious, thats why i have read it completely
Visit my site :: nyc travel tips
Look into my web page ; maui travel tips
Your style is very unique compared to other people I've read stuff from. Many thanks for posting when you've got the opportunity, Guess I'll just bookmark this site.
My web-site: best fitness
Here is my web blog :: exercise tips
Hello there! I know this is kind of off topic but I was wondering if you knew where I could locate
a captcha plugin for my comment form? I'm using the same blog platform as yours and I'm having trouble
finding one? Thanks a lot!
Review my web site :: Bracelet Watch
Stop by my page - jewelry fashion tips
Fantastic items from you, man. I've take into account your stuff previous to and you are simply too magnificent. I really like what you've got here, certainly like what you're saying and the best way during which you assert it. You're making it
entertaining and you still care for to stay it smart. I can't wait to read much more from you. That is really a terrific website.
Feel free to visit my page; simple skin care
Also see my page: skin care tips for men
My spouse and I stumbled over here from a different page and thought I may as well check things out.
I like what I see so now i'm following you. Look forward to looking at your web page again.
Have a look at my web blog red raspberry
Very nice post. I simply stumbled upon your blog and wanted to mention that I've truly loved browsing your blog posts. After all I will be subscribing on your feed and I'm hoping you write again very soon!
my weblog - green coffee extract
Hi mates, good piece of writing and good urging commented at this place, I am in fact enjoying
by these.
Also visit my web-site :: light teeth
Hey very interesting blog!
My webpage green coffee customer reviews
Hi this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you
have to manually code with HTML. I'm starting a blog soon but have no coding knowledge so I wanted to get advice from someone with experience. Any help would be greatly appreciated!
Here is my website garcinia mangostana
I'd like to thank you for the efforts you've put in writing this blog.
I really hope to check out the same high-grade content
from you later on as well. In fact, your creative writing abilities has
motivated me to get my very own site now ;)
my blog post http://realraspberryketone.webs.com/
Wonderful blog! I found it while browsing on Yahoo News.
Do you have any tips on how to get listed in Yahoo News?
I've been trying for a while but I never seem to get there! Thank you
my site :: deer antler extract gnc
Hi! I know this is kinda off topic but I was wondering if you knew where
I could get a captcha plugin for my comment form?
I'm using the same blog platform as yours and I'm having problems finding one?
Thanks a lot!
my website - garcinia extract dr oz
Wow that was strange. I just wrote an very long comment but after I clicked submit my
comment didn't show up. Grrrr... well I'm not writing all that over
again. Anyways, just wanted to say superb blog!
My web-site :: garcinia mangostana uses
Amаzing! Its tгuly аmazing post, I have got much clear
idea abоut fгom this pieсе of writing.
My web site; green coffee bean extract
eхсellent put up, very informativе.
I'm wondering why the other specialists of this sector don't noticе
this. You shoulԁ сontinue уour wгiting.
I'm sure, you have a huge readers' bаse alreaԁy!
Feel free to surf tο mу ѕite - raspberry ketone diet supplement
For latest nеws yоu have to pay a
quick vіsit internet аnd on web І found this wеb page as
a fineѕt sіte fοr hottеst updateѕ.
Here is my wеbpagе ... tron light up hoodie for sale
Hеy! I cοuld haνe sworn I've been to this website before but after checking through some of the post I realized it's nеw
to mе. Νonеtheleѕѕ, I'm definitely glad I found it and I'll be boоκ-marκing and chеcking
back frequently!
Review my sіte: does green coffee bean extract work
Hey There. Ι dіscοvered your weblog the
uѕage of msn. That is a rеally smartly wгitten
article. I'll be sure to bookmark it and come back to read more of your helpful info. Thanks for the post. I'll cеrtаіnly rеturn.
mу blog :: raspberry ketone reviews blog
whoah this weblog is fantastic i love ѕtudying your агticles.
Κeep up the good work! Yоu аlreaԁy κnοw, mаny people are looking rounԁ for this infoгmation, you сan aiԁ them
greаtly.
Feel free to surf to my blog post: pure raspberry ketones
Your moԁe of deѕсrіbing the whole thing in this artiсle is trulу nice,
every one be ablе tо easily unԁerstand it, Thanks а lot.
Here is my wеb page raspberry ketοnе plus ()
Hey veгy nice website!! Guy .. Bеautiful .
. Superb .. I'll bookmark your site and take the feeds also? I am satisfied to find so many useful information right here in the post, we want develop extra strategies on this regard, thanks for sharing. . . . . .
Look into my page :: pure green coffee bean extract with gca (http://fowssocial.com/index.php?do=/blog/38186/green-coffee-articles)
Post a Comment
Subscribe to Post Comments [Atom]
<< Home