Establish your credit standing

If used wisely, a student can take the first step towards building a solid credit history with a student credit card. You get cash back for making purchases! These cards allow you to make purchases with your credit card without even having to type in a pin number, swipe your card through a reader, or even sign for the sale. What are the late fees for the card? It is a great opportunity if you make a concerted effort to get rid of the debt, says Susan Zimmerman, a chartered financial consultant in St. And then there are the best balance transfer cards. In some cases, airline companies allow cardholders to extend from the limits set thus charging them for the next month. A parent or guardian will co-sign the student credit card, but the student will gain the benefit from having his/her credit activity appear on his/her own credit history report.These credit cards are operated by a number of large finance companies. Secured credit cards usually carry higher interest rates than traditional non-secured credit cards. Once you have received the entire amount, you can no longer borrow on that account. The best student credit card will also allow the student to gain rewards for their purchase, perhaps cash back or gas money for trips back home.If you’re a college student, you probably already have a credit card.So I exchanged the old card for the new one and tore up the letter before throwing it in the trash. Once the collector receives your letter, they may not contact you again except to say there will be no further contact or to notify you that the debt collector or the creditor intends to take some specific action. But if you pay your bill off every month, the interest rate won't matter quite as much.