Already on ArticleSlash?

Forgot your password? Sign Up

Best Student Credit Cards

 


Visitors: 138

With credit card companies trying to find new markets while simultaneously balancing the risks involved, student credit cards have seen a huge surge in the recent past. College students have become a target market for credit card companies who lure these students with low introductory interest rates on college credit cards and special student credit cards.

This, besides creating a vast choice in credit cards like Student Visa Card, Student Mastercards etc. for college students, has led to some uncertainty and danger borne by varying interest rates and repayments of loans taken.

Most of us including college students are afflicted by the plastic disease and are unable to decipher the interest rate codes and long term implications on multiple credit card that are constantly being offered to us. It has thus become imperative for us to read the fine print and know exactly what credit cards we take up, the interest on it and what we end up paying in the long run.

Interest rates vary considerably with different credit cards and may range between 7% to as much as 30%. However, most student credit cards or college credit cards will begin with a low introductory rate or even a 0% offer to make it more appealing. However, after the initial period of offer ends, the interest rate may rise to about 16% to 18%.

Generally, the best student credit cards have a normal interest rate of around 15%. It is always better for the student to stick with a low consistent credit card rate than a fluctuating one else he will end up paying excessively for the credit card privilege.

One of the perils of student credit cards is that most college students fail to realize how much debt accumulates when expenses are frivolously booked on a credit card and how difficult it is to get rid of it. Student credit cards are definitely necessary especially in emergencies, but if misused or used irresponsibly, can cause tremendous damage.

William Brister - http://www.plato.tv - Federal Financial Aid

(348)

Article Source:


 
Rate this Article: 
 
Student Credit Cards Just the Basics
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Student Credit Cards and Student Loans Two Different Options to Deal With ..

by: Kate Ross (June 26, 2008) 
(Finance/Credit)

Best Student Credit Cards

by: Jacob Joseph (January 08, 2007) 
(Finance)

Student Credit Cards - Are They For You?

by: Gary Bunn (December 13, 2007) 
(Finance/Credit)

Using Student Credit Cards

by: Susan Slobac (June 30, 2008) 
(Finance/Credit)

Student Credit Cards 101

by: Marsel Sula (April 17, 2008) 
(Finance/Credit)

Student Credit Cards - What you Need to Know

by: Ed Vegliante (June 16, 2007) 
(Finance)

Student Credit Cards An Establishment For Credit

by: David Faulkner (July 25, 2007) 
(Finance/Credit)

Getting Schooled on Student Credit Cards

by: Mario AL Churchill (March 13, 2007) 
(Finance)

Schools in on Student Credit Cards

by: Claire Blake (July 22, 2008) 
(Finance/Credit)

Student Credit Cards Just the Basics

by: Daniel Cho (July 22, 2008) 
(Finance/Credit)