Thursday, November 12, 2009 @ 5:47 PM

Student Mastercard Credit Card – A Guide For Parents

As a parent, you may be wondering if it is a good idea for your son or daughter to have a student mastercard credit card. As a credit card holder yourself, you know that there is always a tendency to go overboard with shopping, and you wouldn’t want your child to suffer the consequences later on. 
Actually, this would be the best avenue to make your kid develop a sense of responsibility when it comes to money matters. Make your kid understand that a credit card can be a lifesaver if used only where it is intended to be used, but it can also spell one’s doom when abused. It is important for your kid to know that going into debt because of uncontrolled spending is not an option. 

A student mastercard credit card is essential, especially during those times when your student has an immediate need for school supplies, text books, and the like, and you can’t be there to immediately provide the money needed for all those stuff. To put your mind at ease, shop for credit cards with your kid. Online you can find lots of credit card providers that cater specifically to the needs of students. Browse the sites together so you can guide your kid in making a wise choice. Credit card companies offer different rates and packages, and your child may feel overwhelmed with all the information. 

It is always advisable to go for a provider that offers the lowest interest rate, but of course you also have to make certain that that company is reliable and has an established record of providing quality customer care. Some providers offer 0% interest rate for the first six months. Many companies reward their customers with cash rebates, while others do so in the form of reward points, like you get bonus points for your every purchase and those points can accumulate and then be converted into cash. 

Maybe it would help you both to go over reviews of credit card companies on the web. There are many third party sites that provide detailed reviews of credit card providers to help consumers make an informed decision. Visit a number of these sites so you can see which companies are consistently being rated well. Very often these review sites have links to the featured credit card companies’ websites, so all you have to do is to click on the link to learn more about a certain company.You will be doing a big favor to your kid when you get him or her a student mastercard credit card, but parental guidance is always important to make sure that he or she does not overspend

Friday, November 6, 2009 @ 4:10 PM

Get Your Parents To Get You A Student Mastercard Credit Card

All your friends own a student mastercard credit card, and you want one, too. The thing is, you are having difficulty convincing your parents. It is only natural for your parents to be concerned about you having a credit card because they know that having a credit card can tempt anyone to go into a spending spree and this can result to accumulated debts.

It is therefore important for you to show your parents that you’ll be able to manage your student mastercard credit card bills well. Start by being responsible; prove to your parents that you can be trusted with money and not go beyond your budget. Show them that you are not someone who is likely to go on a shopping trip and overspend.

If needed, talk to them heart-to-heart, and commit to use the credit card responsibly. Tell them that it’s not all about fad that you want to have a credit card but for practical reasons. They may not always be there to give you money for your immediate and emergency needs, and a credit card can really unburden you of the pressure of having to look for other sources of money.
You can ask your parents to go credit card shopping with you to make them feel comfortable with the idea. You can scour the World Wide Web together for companies that offer the lowest interest rate, the most efficient customer care, and the most attractive packages. You see, not all credit card providers are the same. Some companies are able to offer low interest rates than the others. You are also likely to see zero percent and free annual fee offers by other companies. In almost all cases, providers offer exciting benefits to their customers. For example, you may chance upon companies offering cash rebates of up to 10% or reward points. In the case of the latter, you get to accumulate bonus points for your every purchase which you may later redeem for cash or prizes.

Do promise your parents that you will manage your account like a responsible and mature person. You have to fully pay your purchases when they become due so as not to accumulate debts which will be difficult to pay off. Remember, a good credit history is very important as this is reflected in your credit report. You must know, too, that a good credit report increases your chances of getting approved of any kind of loan later on, and managing a student mastercard credit card is often the first step to build a good reputation as a creditor.

Tuesday, November 3, 2009 @ 8:06 PM

A Student’s Guide To A Student Mastercard Credit Card

Everybody knows how essential it is to have a good credit score. A good credit score is a measurement of your performance as a creditor for a certain period. Some people begin their credit history with a student mastercard credit card. This type of credit card is designed for college and university students.

You can begin to build a good credit history by paying your credit card bills on time. Lending and financial institutions will look at your credit history when you will have to apply for a loan later on in life. If you can show that you are a responsible creditor even as a student, you will have better chances of getting approved of a credit line or loan for whatever needs you may have in the future. Say for instance, you want to buy a house or a car or you may need to have either one repaired. You will need a bigger amount, for sure, so you will likely apply for a loan to come up with the amount.

Owning a student credit card can give you a lot of convenience, and it can also relieve you of some stresses especially when you have an urgent need to purchase textbooks and other school supplies and you don’t have the money to pay for them for the time being. If you are going to school on a budget as many students are, owning a student mastercard credit card can be lighter to your pocket because you can get to pay your purchases on a monthly basis. Sure, you can always apply for student grants or loans, but as is often the case, these are not enough to cover all your expenses.

Many credit card providers offer as much as $10,000 credit line, even if it is your first time to apply for a credit card. If you keep paying your bills on time, most likely you will be given a raise on your credit line when you renew your credit card.

It always pays to be well informed of what you are getting into. Take enough time to visit the website of the credit card provider that you want to deal with. Be very particular of the interest that you will be charged, as well as the APR which is short for annual percentage rate. Some companies waive the annual fee on your first year only, but other companies extend the promo to the following year and the next. Make sure to read the terms and conditions thoroughly so you can be certain that you are getting the best deal on your student mastercard credit card.