{"id":1653,"date":"2009-12-31T12:07:24","date_gmt":"2009-12-31T06:37:24","guid":{"rendered":"http:\/\/www.niftylivecharts.com\/blog\/?p=1653"},"modified":"2009-12-31T12:07:24","modified_gmt":"2009-12-31T06:37:24","slug":"what-is-a-student-credit-cards-101","status":"publish","type":"post","link":"https:\/\/www.niftylivecharts.com\/blog\/what-is-a-student-credit-cards-101\/","title":{"rendered":"What is a Student Credit Cards 101"},"content":{"rendered":"

If you\u2019re a college student, you probably already have a credit card. If not, you may have plans to get one or more soon. So why should you read on?<\/p>\n

– Because financial debt is one of the main reasons that many students end up dropping out of college.<\/div>\n
– Because your college years can be some of your most memorable\u2014and some of your most costly. They don\u2019t, however, have to be the beginning of an adult life strapped with debt.<\/div>\n
– Although you may still feel in limbo between your teen years and adulthood, it\u2019s time to take charge of your finances and manage them as an adult. The sooner you do, the sooner you\u2019ll be able to start saving and spending your own money.<\/div>\n
<\/div>\n
Why do credit card companies court college students?<\/strong><\/div>\n
It\u2019s obvious by the friendly representatives who offer a free t-shirt or CD just for signing up in the student center. Or the applications slipped into bookstore bags. Or mail boxes crowded with card offers. Credit card companies want college students to carry their card.<\/div>\n
One reason is loyalty\u2014once a person has a card in their wallet, they are likely to keep that particular card and its upgrades for years to come. Another reason: college students are good customers.<\/div>\n
While this may seem ironic considering that most college students are without a steady source of income.<\/div>\n
Banks make money by charging annual fees, late payment penalties and interest fees on unpaid credit card balances. Therefore, card holders with revolving debt (those who do not pay their balances in full each month) are desirable.<\/div>\n
<\/div>\n
How to make credit work for you, not against you?<\/strong><\/div>\n
Credit cards enable online purchases\u2014from text books to concert tickets, make it possible to rent a car, and help with medical emergencies or vehicle breakdowns. Used wisely, credit cards can be helpful throughout college, and can assist you in the development of financial management skills.<\/div>\n
As soon as you get your first credit card or loan, you have entered the world of credit reports and scores. A credit report is compiled by credit bureaus and contains information about your identity and credit relationships, among other things. Credit scoring is a system that lenders use to help determine your \u2018credit worthiness.\u2019 Credit scores are based upon your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt and the age of your accounts.<\/div>\n
It\u2019s vital to know that your credit score affects your ability to get loans, car loans, and home mortgages. Future jobs and insurance premiums can also be influenced by your credit score. By paying your bills in full or in a timely manner, a credit card will help you establish a good credit score. Late payment or no payment will help you earn a poor credit score.<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re a college student, you probably already have a credit card. If not, you may have plans to get one or more soon. So why should you read on? – Because financial debt is one of the main reasons that many students end up dropping out of college. – Because your college years can […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[4799,4800,4801],"class_list":["post-1653","post","type-post","status-publish","format-standard","category-general","tag-college-student-credit-card","tag-credit-card-for-college-student","tag-student-credit-card-101","entry"],"_links":{"self":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/1653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/comments?post=1653"}],"version-history":[{"count":0,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/1653\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/media?parent=1653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/categories?post=1653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/tags?post=1653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}