Not all of us are born lucky with a silver spoon jutting out from our mouth. Not all of us are fortunate enough to be able to acquire a scholarship, either academically or through athletic programs. Thatís why there are a number of college students who combine having to study hard and work hard just to lay claim to a diploma in 4 or 5 years and get the best opportunities for him or herself.
We all know how expensive college life is, and lets face it, community college can be very costly as well, especially if you have no one to rely on to pay for your education. So whatís a student to do? Find a job, what else? Some even gets two. There is a great need to have a source of income to pay for all the necessary expenses college entails.
But then again, the problem never stops there. There will be times when the pay is not enough and there are necessary purchases needed to be done, this could either be the tuition fee, text books or just plainly the everyday cost of living. This is where having a college student credit card pays off.
College student credit cards have been a basic necessity not only for those who have parents who can afford to pay the monthly balances, but most especially to those who needs it to survive college. Fortunately, applying for a college student credit card is relatively easy; itís even easier to get a college student credit card than the regular credit card.
But when it comes to finally deciding to get a college student credit card, one must be wary and proceed with caution. There are a number of things a college student must consider before filing an application for a college student credit card. To keep away from being buried in a pit of debt, here are some of the basics you need to know about them.
ï Consider the fees and the interest rates that the company will be charging. Some credit card companies wave off the annual fee to entice a student to file an application with them. This will be a good choice as it can save you some money. But then again, look at how high their interest rates are. They may just give you higher interest rates to recoup the money they lost on the fees and maybe even end up earning much more.
Also, college student credit cards have higher interest rates because most college students donít have credit ratings yet. The best thing to do is to get a co-signer with a good credit rating so that the calculations for the interest rates will be based on his ratings. This will mean lower interest rates.
ï Credit card companies that offer zero percent APR are also good choices. But this usually lasts for six months. So make sure that you pay off your balance fully prior to the sixth month to ensure that you will not be charged with high interest rates.
ï Having a college student credit card doesnít only makes life easier by allowing you to make purchases even when pay day is still days away, but it also provides other benefits. Applying for utilities usually entails the applicant to have a credit card, with your college student credit card, this will be no problem for you.