Most students are sure that they cannot get a credit card during the studies if they don’t have the full-time job and therefore the stable source of income. The problem is difficult but the solution exists. Students can face financial difficulties as well as other people. They might need credit cards for some purchases when other payment method is impossible or just for an emergency case. Banks and credit card companies offer special cards for them. The students can study, use the credit card and not have high debts at the same time.
Credit cards have obvious benefits. They allow saving some cash when it’s essential, they are good when paying in the stores, they are convenient and easy to get. There are lots of ads showing you the advantages of the credit card. In fact, the only real requirement is age. But credit cards have faults too. They are dangerous for excessive consumers as it is very easy to fall into the debt trap. It would be very difficult to get rid of those credit card debts as they are increasing from day to day because of late fees and higher interest rate. The bad records on the repayments in the credit card history can prevent you from getting an important loan or can become the reason of filing for bankruptcy.
Student credit cards are somewhat different from the common ones. The credit conditions have the following peculiarities: the credit limit is not that high, the interest rate is low and there are often some other specific options like discounts for the goods the students need. Like stationery, books etc.
What’s the reason why the banks are ready to give these cards to students? It’s risky for them as the students don’t have the full-time jobs and therefore the income source. They can do something to earn from time to time but it’s not always possible while studying in the university. But it’s known that educated people are much more likely to get the well-paid job that’s why the banks are ready to provide you with such credit in order to get more money later. People often come to the same back to perform other financial transactions or just use the services the bank can provide them with.
The disadvantages of students’ credit cards are the same as for others. They can make your life terrible if you get in debt. It’s essential to manage the finance correctly and keep the credit card balance under control. All the other things are good about them. And those who are ready to follow these simple rules won’t notice any disadvantages at all.
Of course, there are also other ways to earn during the studies. There are part-time jobs for students, special student loans etc. There is also the possibility to obtain a common credit card if the bank or the credit card company agrees. Nevertheless the student credit line remains the simplest and the best way for students to have some extra money.
This straightforward rule can save you big money in your everyday life: never rush to fill out any credit card applications, before researching the market.
Surely sometimes credit card applications are the only way to get access to the numbers about quotes. In this scenario your actions make sense. In all other cases – do not hurry up. Visit this blog and find out the useful tips about how to select proper credit card applications and how to act