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Credit Cards For Students – Providers & Overview

September 23, 2011

Credit Cards For Students

credit cards for students

Before we get into the different providers that have excellent credit cards for students, there are a few guidelines that are excellent to follow when it comes to getting the best credit card for you. Here are 4 guidelines for findind credit cards for students:

  1. Major Credit Card Brands – Getting a major credit card brand when it comes to credit cards for students is going to be your key to be able to use it anywhere. The main brands that your card should have are American Express, VISA, Master Card and Discover.
  2. Rewards System – Getting rewards can be great, but you can maximize your rewards by finding a rewards plan that caters to where you spend most of your money. For example, if you shop get one that maximizes points for department store shopping, or if you buy a lot of food, like frat guys and sports players, then go for one that grants big points for grocery purhcases.
  3. Good Reviews – On your search for credit cards for students, go for one that has good reviews. You can do a search online and check out different forums on the specific card you are searching for.
  4. Good Terms – On your search for credit cards for students, you will want to look for  cards with lower interest and no yearly fees. Many companies are out there advertising you their amazing credit cards plans, which may be true but shop around first and make sure you are getting the best before you sign on the dotted line.

Qualifying For Credit Cards For Students

You may be asking how the heck you are going to qualify being that most college students have little or no credit at all to speak of as well as most likely don’t have much income. There is a remedy to this and that is requesting a student credit card. By doing this you will be able to get a credit card, which although will have a low credit line which can increase in the future upon proof of higher income, but it will be a credit card none the less. If you are looking for a higher credit line, you will have to get a cosigner who has good credit.

2 Good Credit Cards For Students

Now that you know a little bit of information on what to look for when looking for credit cards for students, here are a few student credit card lenders that are excellent to use on your and have helped millions of students obtain a credit card.

  • Citibank Divident Platinum Select Card For College Students – Some of the benefits of this card is that you get 5 percent back for purhases in supermarkets, gas stations, convenience and drug stores as well as utility bills for the first 6 months and 1 percent after this period, 2 percent on certain restaurants, hotels and apparel stores and 1 percent on all other purchases. No annual fee and interest rates between 13.99 and 21.99 and an intro APR rate of 0 percent. (They also have another student credit card that offers Thankyou points which are offered for things like good GPA as well as purchases that can be redeemed for cash and prizes.)
  • Discover Student Card – Benefits of the credit cards for students option are 5 percent cash back on things like department stores, gas and groceries among many others, 1 percent on all other buys as well as comes with no annual fee as well as 13.99 to 21.99 percent interest.
  • Journey SM Student Rewards From Capitol One – This is another great option for credit cards for students. Some benefits that comes with their student credit cards are; no annual fee, 1 percent cash back on all purchases as well as 25 percent bonus on your cash back when you pay your bills on time.

By utilizing one of these credit cards for students, or a student credit card in general, you can both get cash back on the purchases that involve college life as well as build a good credit score by paying on time which will be fairly easy considering your payments will be pretty low.

Debt Consolidation Loans For Bad Credit

September 21, 2011

Debt  Consolidation Loans for Bad Credit

Bad credit can be a major source of stress in peoples lives. It can prevent you from being able to get the car or home that you dream of. Many canʼt afford such big purchases all in one payment so a loan is the only option. Having bad credit however makes your chances of getting that loan slim to none. Debt consolidation loans for bad credit can be a great solution to this problem. A consolidation loan is basically where all your existing payments are merged into one monthly payment. The advantage of this is that it makes it more easy to keep up with your payments and also vastly reduces the amount youʼre paying in interest.

debt consolidation loans for bad credit

There are two types of debt consolidation loans for bad credit. The first of which is called an unsecured consolidation loan. With this type of loan you do not need to put up anything as collateral, such as your car or home. This is a particularly appealing option for those who do not want to take any risk with their home when consolidating their debts. It should be noted that with this type of loan the interest rates are usually higher since the risk for the lender goes up without anything as collateral.

The other type of debt consolidation loans for bad credit option is a secured consolidation loan. As you may have guessed this is where you are required to put up something as collateral. For most people this will mean putting up their home. You should exercise great caution when thinking of doing this as though it may be easy to get the loan your risk losing your home if youʼre unable to make the payments each month.

Many people think that a debt consolidation loans for bad credit will reduce the amount of debt they are paying. This can be true, but the place where you are saving money is in the reduced interest rates thanks to the debts being combined. This is not the only benefit however.

Benefits of Debt Consolidation Loans For Bad Credit

Some of the other benefits include -

• A lower interest rate

• Your debts are made more manageable by being merged into fewer payments

• Lower your monthly payments

Waive late fees

• Avoid bankruptcy

Of course there are other options that people consider when their finances get on top of them. One of the most popular ones is to fie bankruptcy . The would not be advisable however due to the fact the once you file bankruptcy you cannot do it again. This may not seem like a problem but if you were to find yourself with financial troubles again in the future it would not be an option for you. Also when you file bankruptcy it is a matter if public record and could potentially hurt your chances of employment in the future

Since the recession has hit many more people have found themselves with bad credit. Of course it cannot be blamed only on this factor but it certainly hasnʼt helped  situation. Debt consolidation loans for bad credit are on of the best solutions to the problem of mounting and unmanageable debt.

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