Student Credit Card
Often students require money to pay their expenses. If the student
is not earning he/she might go to his/her parents or guardian and
ask for money. When they are not around and the student needs immediate
cash, the student faces a problem. So in this situation a student
credit card is very useful.
Many companies provide student credit cards and some of them with
nice offers. Aggressive companies offer low interest rates and free
application. Parents pay the bills if the student cannot pay in
time. Parents can limit the credit amount by putting a voluntary
limit on the card.
A good credit history always helps in the latter half of life.
So parents should teach their children about the importance of a
good credit record. All major credit card issuers like American
Express, Visa and MasterCard offer students credit card.
In first world countries like USA, Canada, UK, students pay a very
high amount to study in colleges. During the college days students
spend a lot. Companies target these college-going teens. An average
college-going student’s credit card often crosses a credit
limit of USD 7,000. Many students have more than one credit card.
The inexperienced over enthusiastic student uses the card haphazardly
and usually crosses the card limit and usually ends up paying the
principal plus interest, which ranges up to 20%. So it is advised
to use the card judiciously.
by Paul Chris
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