When you let money speak for you, it drowns out anything else you meant to say. Mignon McLaughlin, The Second Neurotic's Notebook, 1966
Sink Your Nose into Books, Not Debt: The Student Credit Card


Anyone who has been to college knows how stressful it can be financially. Tuition costs continue to rise and you're barely surviving on your macaroni and cheese. If you are looking to build your credit with a student credit card, be very aware of the pros and cons of owning one of these plastics.

Here are some tips for looking, applying and owning a student credit card that you may want to study before making any decisions.

You have to be Smart

If you've made it into college, chances are pretty good that you already have a good head on your shoulders, but when it comes to finances you may still be new to paying bills. If you are looking for a student credit card, look carefully because many credit card companies offer credit cards to students with high interest rates and finance charges. Find a card that has the minimum balance (usually 0-300 is good to start off) and the minimum monthly payment fits your income. Cards such as Capital One and Citi are good for beginner credit card users.

Balance Is Key to Everything

One thing most colleges don't teach is how to figure your expenses and unfortunately most young people have to figure things out on their own. Compile a list of all your expenses and compare it to how much income you earn or get (from parents, part time job, grants, scholarships, etc.). Make sure that you would have enough money to cover the cost of a student credit card along with other expenses.

Looking Ahead

Remember that a credit card will help establish your credit score, which can affect your life in the future such as insurance, employment, mortgage loans and so forth. You want to make sure that lines of credit such as a student credit card will not get you into financial trouble. Start off on the right foot.

College is full of new and exciting experiences, but along with the excitement comes the reality of costs and expenses. If you are thinking about getting a student credit card, let it be the opportunity to open a door of credit for you, not slam it in your face. Play it smart, look at your income and expenses realistically and think of the future. This is advice that will help you ace your credit score.

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When Your Credit Card Application Is Not Accepted
By Ben Needles

 With the advancement of the years, the public has accepted the major change called the credit card. It is truly a major change. Instead of stressing over carrying enough money to get what you want or need when shopping, your Visa or MasterCard can make sure you can have a great shopping experience. You can shop without leaving home on your computer. Applying for credit cards is becoming more commonplace. But every application that you fill out does not mean that you will get a credit card in the mail. Your application for a credit card may be denied. Lets see why a provider of a credit card application turn you down when they have put so much effort into courting new customers.

One of the main reasons for rejecting an application for a credit card is mistakes that you may have made when filling it out. Little mistakes, such as entering the wrong phone number, wrong name, or zip code can be made. There is no such thing as a perfect person so mistakes are bound to be made. If you forget to fill out all the spaces on your application, this can cause another problem. Missing information that is required will cause problems with your application. If your handwriting is atrocious, the person reviewing the application may have trouble reading your information. Errors could have been made by the person who was handling the form. It may not have been filed correctly or the information needed may not have been clearly explained. Sometimes new hires make a few mistakes until they are more seasoned to the system.

But not to worry, these small mistakes due to human error can be straightened out later. The main problem this would cause would be an interruption in the timely receipt of your credit card. The number one reason for an application for a credit card being rejected is poor credit, for example, negative items in the past. Your credit score may already have been set up if you have other credit cards in active status or if you have or have had a mortgage or loan. If payments are made on time and the minimum is being paid, a good credit score is likely. On the other hand, if payments are late, behind, or not paid this results in a bad credit score. This is determined by the major credit bureaus with information received from the credit card companies you have. When applying for a new credit card, your credit score is checked and if it is a negative rating, you are automatically rejected.

The rejection or acceptance of a credit card application is dependent upon these two major reasons. They must be monitored (the credit score in particular).

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If you shop around hard enough you will find a 0 interest credit card eventually.
It pays to not just be on time with your credit card bills but to be early if possible. be of legal age and have proof of residence 2. The Annual Percentage Rate or APR is the amount of money that a bank charges you in a year. If you are tempted to apply through a solicited invitation, go to the website and request that additional information is mailed to you.