Face it - not all students have the advantage of implementing plastic Dad. Cards to the majority of students are dangerous. It is important to understand and know how to use credit to their advantage to avoid being caught unprepared by high-rise fees and interest rates later this month. Here are some common questions student loan:
1. How many students have credit cards?
Than 80 percent of studentsat least one credit card. more than 50 percent of students wear plastic, and the second year, more than 90 percent of the population have credit cards second plant. students are not different, most of them for up to six cards. Credit card balances are directly proportional to the degree education, with students that the balance of the credit card through greater spending on education for the entire student bodyPopulation.
2. Why are there so many credit card companies issue cards to students?
Credit card companies know that if students who can not pay their debts, help their parents. They also offer attractive interest rates and benefits for the students because the school is the time when many people get their first credit card. Most people stick to their first credit card, even after graduation. Thus, collegeStudents are customers great!
3. Credit cards are bad for students?
Credit cards should not be completely avoided by college students because they can help them hire a car and make a good car insurance, as well as the provision of funding. Establishing a good credit history is important and necessary for the university. It is advisable to obtain a credit card during their studies and to guarantee that the credit card is paidTime. University students must also be for one or two low-limit cards. With these it will be easier for students within its budget and afford to pay your bills on time.
4. What happens if a student can afford to pay on time?
Usually the credit card companies are raising interest rates, and levying a penalty if a student falls on his payment. This allows students to leave with a bad credit history, and willreflected in the report as up to seven years. This will have an impact on student motivation and money, as if he planned to buy a home or buying a car. Some students choose to enroll as part-time students reduce their workloads and a little 'time so that we can work and the cost of their balance. Some think that the study of everything and select full-time studies of their loans to pay for working more quickly.
5. How can students manage finances in order not to fall too deeply in debt?
Studentsshould keep track of their money to take stock and list all sources of income and all costs of purchase and it does. In this way, the student will know exactly how much he spent, and how much he has not been abandoned.
6. How can you tell if a company credit card, it gives you a good deal?
Before using a contract or conditions, interest rates and fees are hidden from the students. Cards that students pay annual feesabove the interest rates should be avoided. Students should also be free cards, the interest free grace periods provided that they are able to offer to pay for a certain period of time.
7. What is the role of parents when it comes to their children's student loans?
Parents should encourage children to make sense to spend the money and teaching them to avoid the debt before they start school as possible. Some credit card companies have to be a problemExpansion card for the child of its customers. There's also a new plan, under which students have credit cards and parents can fill with money, so that students can withdraw cash from fees depending on the amount of money to their cards . Parents should know their children, where possible, credit cards should only be used for emergencies - it is the divine faux fur 70% reduction in their price, not as aEmergency.
8. Taking an advance is a good idea?
Cash advances should be avoided. You do not pay only the interest, cash advances from the date of the withdrawal will leave with payment of high interest to talk incessantly. Often there is also a fee in advance. Before you know you are in a financial crisis very big, you should begin to cash advances habit.
9. Is it worth it to use credit cards as payment for small amounts, so that theNice gifts and I'll collect points at the end of the month?
He Sure, there are credit card companies, gifts, depending on the number of points accumulated by the customer, but the plastic used to pay for something more or less should be avoided, because it continues to pay interest. Do not pay to be a beautiful gift given at the end, but accumulate interest and taxes for small things like a can of Diet Mountain Dew or a pizza.Using a credit card for daily shopping is a vice of form.
10. How pitiful politics?
If a customer is in default on its payments, credit card companies usually charge prices skyrocketing and the penalty set aside the lower packages, so it is important to think before you ask. It could also trigger universal default penalties could increase interest rates for the boards!
Students must know how to handle finances andshould be aware of the consequences should lose payments from their credit cards before going to college and apply for credit. It 'the key to a financial effort-free life in future.
