|
Student/college credit cards are credit card specifically designed for young men and women attending college or university. Student credit cards let their users understand the benefits of "real world" credit card usage prior to graduating University and taking on a full time job. Usually, for most students, their student credit card is their first credit card and the door-opener to the world of credit card usage. Some students may have previously used supplementary credit cards, but those credit cards are linked to their mother or father's credit card account. Therefore, it is a reliable stepping stone for students who can really call their student credit card their own. What’s So Special About These Cards? Student credit cards are basically the same as other credit cards. They are used in the same way as other credit cards are. Some differences come into play for student credit card users, primarily because they have no prior experience in the use of credit cards and more than likely don't realize the complete concept of credit cards. Therefore, credit card issuers are at risk when approving student credit cards for young individuals who have little or no credit or credit card usage history. This inexperience in managing their finances, on the part of the student card user, puts the credit card issuer at risk of not receiving the monthly credit card bill payments on time, or not at all. To give them peace of mind, the issuer of student credit cards normally requires a parent of the student to sign the student credit card application form as well as the applicant. Additionally, the credit limit assigned to student credit cards is significantly lower than it is for credit cards issued to working adults. Still, the delegated credit limit is, in most cases, large enough to satisfy the student's needs. Another method credit card providers use to prevent University
Related Articles -
Car insurance, cheap car insurance, credit card, best credit card, mortgage, best mortgage deals, cheap broadband, home phone, TV packages, TV bundle,
|
