| |
| |
|
Credit Information |
|
|
|
Student Credit Cards
STUDENT CREDIT CARDS With graduate debt averaging over £12,000, the ability to spread the cost of further education using a student credit card is obviously attractive. Adding to their appeal is the fact that these cards are relatively easy to obtain. Unlike many standard credit cards, they are available to people who do not have a regular, minimum income and credit history. They often come with tempting offers including low rates for an introductory period, shopping discounts and free CDs. Flexing student plastic has the additional benefit of creating a credit history that can be used to support future loan and mortgage applications. So, with no regular income and credit history, what exactly is the attraction of students for the credit card companies? Well, the fact that graduates can expect to earn, on average, £400,000 more over their lifetime than the national average, means that financial institutions are eager to attract this extra earning potential. Banks and credit card providers know that the general public are reluctant to go through the hassle of changing accounts, so by attracting students early in their career, they are likely to stay with them for life. Student credit cards can have drawbacks. If balances are not paid off in full each month, most cards aimed at students notch up higher interest charges than their regular counterparts. These additional charges often cancel out the benefits of store discounts or free CDs. Credit cards aimed at those in further education may not attract the useful bonuses that regular plastic does, for example air miles, cash back on purchases and interest-free periods. Credit cards aren't free money. Flashing plastic creates a debt that must be managed alongside the repayment of tuition fees, bank overdraft and student loan repayments. Handled well, a student will benefit in the future from a good credit rating. Managed poorly, students may end up with a bad history that will adversely affect subsequent credit applications. A little research before signing on the dotted line can really pay off. By taking the time to compare the deals available on all suitable credit cards, interest repayments can be minimised and the benefits of holding a card maximised. And that really is good news for students. Please click here for more information of student credit cards available for the UK Phil Edwards is a Business analyst in the city of London, freelance writer for several finance magazines and websites and co-owner of http://www.1st-uk-credit-cards.co.uk and http://www.1st-uk-loans.co.uk.
MORE RESOURCES:
Credit - Google News |
|
|
|
RELATED ARTICLES
Are 0% Credit Cards Reaching Their End? Are Credit Card companies starting to feel the pinch? We all know that the Credit Card companies make their money by charging us interest on the money we borrow. With all the 0% balance transfer offers that we have seen over the last few years its no wonder these companies are concerned they aren't making any money. Easing Your Financial Burdens With Credit Counseling It is a well-publicized fact that more of us are getting ourselves into greater debt, and this may be true for you. The embarrassment of your financial situation can mean you are unlikely to seek credit counselling or other credit management solutions. How To Avoid Becoming A Victim of Identity Theft With identity theft statistics currently at an all time high, and climbing, it just makes sense that we should all be doing everything we can to protect ourselves.One of the most prevalent yet overlooked ways your personal information and passwords may be being compromised is through the presence of Spyware on your computer. 7 Compelling Reasons Why A Prepaid Debit Card May Be Just The Financial Tool You Need Prepaid debit cards are great financial tools and may be just the financial tool you need. Here a seven compelling reasons why:1. A Summary of the Fair Credit Reporting Act This summary of the Fair Credit Reporting Act will explain what you can legally do if you want to repair your own credit report. No matter what you hear, you can dispute credit information on your credit report if you understand the legal rights you have under this law. Bankruptcy Myths Busted The average American knows very little about bankruptcy. Most people probably are aware of bankruptcy's ability to dissolve debt and give the debtor a fresh start. Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. Generally people who apply for secured credit card or prepaid credit card are people with poor credit or unemployed. Credit Score - Reporting Your Financial Health Credit score is one of the most basic, determining factor while loan borrowing. Credit score is the criterion for the creditor to ascertain whether to give you credit or not. 14 Common Credit Mistakes Establishing credit and wisely managing your credit becomes easier when you know how. You'll feel empowered by taking knowledgeable steps towards good credit, and you'll be on your way to purchasing real estate and greater financial freedom. Good vs. Bad Credit Debt Do you know the difference between good and bad credit debt? Most everyone seems to think that all debt is bad, but that is not always the case. In fact, there are some instances where good debt can actually help your financial situation. Credit Cards Can Help You Get Out Of Debt Your credit rating / credit score is based upon how you have dealt with credit previously. If you have always paid the full amount owing and never missed a payment then your credit score will be high. All Is Fair In Love, War, and, Your Credit Report - At Least It Should Be! Understanding the FCRA Fact: Over 150 million Americans have credit report with the three major credit reporting agencies. Approximately 50 million of these credit reports contain errors, many of which are inaccurate. Finding and Applying for the Right Credit Card Offer Online Anywhere you go online nowadays, you will see a multitude of ads for credit cards. Some offer low interest rate for an introductory period, or bonus frequent flyer miles while others offer real discounts on new vehicles and equipment. Practical Suggestions for Protecting Yourself From Identity Theft It's no surprise that thousands of Americans are victimized by identity theft each year. Last year more than 9,000,000 people were victims of identity theft amounting to some $45 billion dollars. Credit Help for Real Estate Financing: Five Categories of Your Credit Score 1. Payment History -- 35%The number of accounts paid as agreed and a good payment history give you a higher score. To Repair Credit Is No longer Satisfactory - Learn How To Earn A Millionaires Credit In 30 Days... To repair your bad credit does not necessarily mean that you now have a good credit, absolutely not. When most people have bad credit, they either purchase a credit repair book or seek a credit expert help. Credit Traps Snag Consumers Nearly 20 years ago I worked for a small consumer advocacy organization in Washington, DC. Each week we received sacks full of mail from consumers across the country requesting our list of credit cards with low interest rates and no annual fees. Credit Cards: What is the Universal Default Clause? Most people who carry major credit cards are well aware that the interest rates associated with them tend to be higher than for other types of lending, such as home or auto loans. Anyone who has paid their credit card bill late more than once or twice is also aware that doing so may cause the interest rate on their card to go up - sometimes by quite a lot. Compare Credit Card Offers and Reward Yourself Here's a simple system on how to pay zero interest and get tons of free stuff. Almost everyone uses credit cards. Credit Card Debt: How To Control It A lot of people spend more money than they can afford to repay toward their credit card debts. To regain control over your finances and to manage your debt, here are some solutions you can try.
|
| Good Credit Loans | home | site map | School Bus Clothing | Florida Pool Heating |
| © 2006 |
