August 11th, 2010
Anyone, including high school students, can apply for one of these credit cards, but they’re generally meant for college students. Although these cards may be easy to get, they typically charge heftier fees and interest rates, and smaller credit limits.
Young adults generally have no established credit history. Young people with limited experience and no established credit history are often frowned upon by credit card companies. However, those who are attending college with their focus on the future demonstrate a degree of maturity and responsibility that gives companies a bit of assurance that they will be able and willing to take care of their debts. Also, parents are often willing to come to the rescue to pay the bill, especially if they’ve co-signed for the credit card.
Two Types of Credit Cards
Secured Credit Cards – The student will be spending money that has been deposited in a bank account read more »
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July 10th, 2010
Student loans are a popular choice for funding a college education. Once the choice is made to use a student loans, they will become a major part of your financial life for years to come. This is why it is important to choose a lender that you will be able to work with for the entire duration of the loan. While you are evaluating your student loan options, there are a few important points to keep in mind.
Approval Method
Income and credit history are two key factors considered by most private student loan lenders. If you have a poor credit history, a low income, or both, it will be difficult to obtain a loan without a co-signer. Without a co-signer, you will need to look for alternative financing.
Federal student loans can be obtained without regard to credit or income. You must fill out a Free Application for Federal Student Aid, also known as a FAFSA. Copies of the application can be obtained from the financial read more »
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July 6th, 2010
A student credit card is the first card that most people get. These are the cards that companies offer to students in high school and college. The line of credit is usually low because the company knows that students do not make a lot of money and will not be able to make a big monthly payment. A student credit card is much easier to handle than a check book and offer more convince in paying for books, tuition, and buying anything that they may need for school.
For parentes that are interested in controlling their child’s spedning can get the credit card with their boy/girl’s name on it, but under their account and see how much they spend and back them up in case of emergency. The parent can then help keep the child from making bad decisions and getting into debt before they even are out of school. Another thing that may help parent that wants his child to get a first credit card and start being responsible is to read more »
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