Student credit cards

Questions and Answers

Student Credit Cards?

Q) I want to get a Student Credit Card for around 600 pound, Which is the best one? My credit rating is not so good. Can any advise or post links. michael B ........ What a twat!! Go bone a dog

A) Seriously do not get a credit card whilst being a student. Try a student loan first which you can repay when you are working if you really need to borrow the cash or get a small overdraft fromyour bank as they are usually free on student accounts. The interest rates on credit cards are far higher and if you are not working you will accrue ridiculous amounts of interest. If it is to get you out of a tight spot, speak to your uni welfare dept. However, I took out debts at uni and really wished I hadnt when I was still paying them off 10 years later. Go with student poverty I say - its character building.... lol :)

how and when are student overdrafts and credit cards payed back?

A) they give you a year after graduating to start making payments. That's if your over the earns threshold of about £10,000 a year. Your employer will be contacted and they will automatically take it out of your wages, this payment will be marked on your payslip each month. Interest has been added since the loan was first taken out at the start of your course so expect it to be more than you have spent. Your overdraft and credit cards have to be paid back as soon as possible, for example my student account at HSBC has an overdraft facility of up to £1,500 and at least £500 has to be paid back in your first year out of uni and the rest is to be paid back the following year.

do I have to keep a minimum limit balance in my student credit card? (Natwest)?

Q) like i have to pay $$$ minimum balance and keep it forever when application made

A) Hi, Credit card companies rate the amount of money they will lend you by the amount of faith you will pay it back. The more your income is the more they will be willing to give you. But the main factor is your credit rating, ie how good you have been in paying bills in the passed. The more credit you have then pay off, this will also improve your rating. Your limit will probably be quite small, between £300 and £500. Leave it for as long as you can before you request more money from them. Make sure you pay on time and then their trust in you will grow and they will lend you more. Hope this is helpfull

I am a student nurse how can i get more credit? I already have 4 credit cards and a loan. Any suggestions?

Q) and dont say why would u want more debt - im a student nurse and dont get paid i have no money and £500 worth of bills to pay every month- you do the math!!

A) from one credit to junkie to what may be another, save yourself! cut up your cards, all but one. if you make minimum payments, a 5000 card turns into a 30 year, almost 25000 debt, a huge profit for the card company. Please don't get more! If you really need more credit, there are numerous places to apply on the Internet. just answer a few surveys and then you get a few free gifts as well as an application. Best of luck to you.

I am to credit cards how do they work?

Q) Ok for instance i am about to apply for an AMEX student blue card it says: lue from American Express® is a credit card that adapts to your needs. It's designed to give you more flexibility and independence. You can pay for your purchases in full or pay over time. Blue has no annual fee, a competitive 0.00% APR for up to the first 15 months and a grace period up to 20 days. Additional Cards are fee-free, so you can share virtually all the benefits and services with your friends or family members. Define financial control on your own terms with Blue from American Express®. Now i am buying a ring for my GF it is $750. How would the intrest rates work on the ring. Is it monthly until i pay the ring off. How much extra will i be paying for the ring after 3 months. and do i have to pay the ring off in 1 month to avoid intrest rates or do i have to pay it off in 1 month period.

A) The basic answer as to how they work is they provide a simple way of borrowing money you don't yet have, luring you in with an attractive rate of interest............. then they drop you into a lifetime of debt.

Credit card confused?

Q) I current applied for a natwest student credit card, it said that i will have to be charged a direct debit of 5/6 pound from my bank account (they said it's not really a charge or fee) for showing that i own something since i have used the credit card? Is that the deposit, will i be available to get it back?

A) its called a test debit.the credit card company are seeing if the details you have given them are true and also to see if you can afford to have a credit card.....it will appear on your account and disappear next day.this happens a lot when you switch items on a debit card its nothing to worry about but to put your mind at rest phone the credit card company...........

1st credit card?

Q) im 18, unemployed student. I want a credit card in order 2 build rating 4 mortgage. What card can I get with no credit rating which wont cost me anything if I pay of the full balance? What costs r there apart from interest and annual fees that i might get charged if i use it over the counter + pay of balance with direct debit? Is there a less risky way of building rating? (less hidden fees, somthing i can understand)

A) If you have a full bank account you will have a credit rating. You do not need a credit card to get a credit rating, but once you have a bank account, with debit card, your bank should give you a credit card. If you spend on it and clear the balance every month you will not incurr any charges. If your bank wont give you a card, try Associates and Monument, they both do 'starter' cards with £250 limit. If you pay them off each month you wont get charged. If you dont pay them off the charges are very high, so be careful.

Student Loans UK?

Q) If I register myself as Bankrupt what will happen to the cash I owe the bank and the Student Loans people and Credit card?

A) Better to leave the country and live where they cant get you.

How do I close a credit card account?

Q) When I opened a student account I was given a credit card as well. I used it a couple of times, paid it off and think I cut it up. 12 years later I have tried to cancel the card as I have not used it in 12 years and don’t have any details know it but now it is still open. Barclaycard refused to close it as I could not give any details of the address it was assigned to or the last payment I made. Who do I go about closing credit card account when the only details I have is my name!?

A) I would think that giving your social security number would be all you'd need... why do you want to close this account? It's likely improving your credit score because it's been open for so long.

How to open credit card account for free service charge for international students in UK?

Q) For international students in UK who just arrive or lived in UK just 1 year.. How to open the credit card account free of service charge? Because HSBC requires 5 GBP/mth for service charge... But will study in UK for at least 3 years. But will study in UK for at least 3 years.

A) dont get a credit card! if you can live without one dont bother with them. they screw you in the long run and you'll regret it, especially when it comes to paying it back. and as a student you are going to have limited funds, unless you have rich and willing parents or are gonna work your a s s off to make ends meet. Or do you plan on getting a credit card, running up a large bill and then disappearing back home when the company cant get to you? cool! But seriously.....have one hell of a good think before getting one, because you will end up in debt by owning one and you cant wait every few months to make payments back.

Student credit cards?

Q) ive decided to get rid of capitol one because my family had bad times with it and hear bad stuff about them. so once i drop capitol one, should i get american express blue for students (an no they dont have to pay all at once) or should i get a discover student card. please help and explain credit history so far within one year (19 years old): 6000 car loan almost halfway paid 1800 credit limit credit card sprint bill always paid --------------------- all paid on time and assuming i have great credit looking for a 2nd card for more features, options and report excellent credit to all 3

A) you are too young to be falling in this credit crap....i worked for a card company and trust me dont get a student credit card, they will rip you off. just spend whatever u make. as long as u don't have bad credit....u can get your credit score to 700+ in less then a year.

Which credit cards can an international student apply for in the U.S.?

Q) It seems that building up credit is extremely important in the U.S., but as an international student this is very difficult. I am looking for a credit-building credit card, but nearly all student credit cards that I have come across require the applicant to be a U.S. resident, which I am not. I do, however, have a social security number.

A) check these links, then decide what you want to do, see the FAQ on the first link down but really there's plenty of advice throughout if you have time to read: http://credit-cards.ebookorama.com http://finance.ebookorama.com http://credit.ebookorama.com http://credit-repair.ebookorama.com good luck! if it helps please remember me cheers

What are some name of credit cards that give student credit cards?

Q) What are some names of credit cards that give student credit cards? Was is that amount that they give students? Can a person get student credit cards if they only attend college on a part time basis?

A) You can find a complete list of student credit cards here: http://www.asapcreditcard.com/student-cards.html Generally, your credit limit will start out small (anywhere from $300-$1500). After you've built some credit history, the credit card company will often raise your limit. Just make sure you make regular, on-time payments. Hope this helps. GOOD LUCK!

What is the purpose of student credit cards?

Q) I mean, I understand the concept of building credit and everything, but what is the point of student credit cards? What is the purpose? I'm sorry if this is a silly question, but I don't really get it. And can you trade them in after you're no longer a student for a "real" credit card? Do people just keep them forever? I always thought closing accounts lowered your credit score?

A) Student credit cards offer students with little or no income the opportunity to prove their creditworthiness. They tend to have higher interest rates than standard credit cards since students pose a higher risk of default. But the credit card companies want to gain loyal customers early-- and see college students as a great opportunity. Many BIG issuers have gotten into the 'student credit card' game. To see a complete list, visit: http://www.asapcreditcard.com/student-cards.html When you decide to upgrade to a 'regular' credit card after school-- don't worry too much about closing the old account. Although it will have a slightly negative impact-- it's only short-term.

Student Credit Cards?!?!?!?

Q) What does it mean by 0% Intro APR* on Purchases for 6 Months?!?!? I'm thinking of getting a student credit card since I'm a student, A senior in high school, and I'll be leaving for college this coming fall, and I need a credit card, so I'm going to get one, but I don't understand the whole "APR" thing. What does it stand for? What's it's purpose?!?!?!

A) APR stands for annual percentage rate. It is the percentage of interest the credit card company charges you on the balance. A 0% APR for six months means for the first six months you have the card you will not be charged interest. However, interest will be charged on any outstanding balance after the first six months. When comparing cards you should look at what the APR is following the introductory offer. Also it is never a good idea to carry a balance on a credit card. In other words pay off the balance each month if possible.

Student Credit Cards?

Q) I just turned 18 a few months back, and I'm looking for a student credit card, so I can start paying off college and building my own credit, does anybody know a good company with los APR rates?

A) If any person, including a minor falsifies an application whether online or otherwise to obtain credit they have committed a criminal offense. A minor who obtains any type of credit under false pretenses will be held liable for the entire amount of the debt and can be charged under the juvenile codes of the state of residency for "theft by deceit". In some cases where the amount of debt is large, a judge can waive the age restriction and allow the minor to be proscecuted as an adult. read more about it at http://www.credit-card-forums.com/thread/103;How-do-you-get-a-credit-card-if-you-are-under-18-and-do-not-have-credit

Instant Approval Student Credit Cards?

Q) Where can i apply online and get a same day instant approval student credit card? ThaNKS!

A) mm....store credit card, they'll give you a "temporary" number to use right there until the real card arrives. Otherwise, while you can get approved immediately (some on links) I don't think you'll find cards that can be used right away.

What's a good website to apply for student credit cards?

Q) I want to get a student credit card, one with a smaller limit, just to be able to build credit so I won't have issues buying my new car once my lease is up next year, as well as with other things, such as cell phones, houses, etc. What would be a good place to apply for a card that doesn't require good, or any, credit?

A) if I were you I would find out what my credit score is before I go getting credit cards. www.annualcreditreport.com allows you one credit check per year mandated by the govt. if your credit is good enough dont bother getting credit cards. have as few of those as possible as im sure many will tell you on this site

Good Student Credit Cards?

Q) In College have a Cap 1, but the interest on that thing is way to high, 20%, I also have another card, but never activated it. Should I close that card out? If I do will it hurt me in any way? What are some good low apr cards for students?

A) Best card is absolutely none. I am in terrible credit card debt because no one ever told me to avoid them and no I am a prisoner: broke and with constant pressure to make payments. Best stratgey is be tough on yourself and to pay them off and only use them when you can always pay them off every month in order to get the 1% cash back rewards. Credit cards are terribly destructive

are there any student credit cards for students with less than perfect credit?

Q) married, kids, less than perfect credit

A) many banks have secured credit cards, which are similar to a debit card. you give the bank a certain amount to hold on to, and that amount is your credit limit. if you use it wisely and pay off the balance each month, it ups your credit rating, and can eventually be transferred into a regular credit card. worked well for me...