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Credit explained in simple terms. Read a credit card vocabulary and discover common mistakes to avoid. Learn good credit management skills and understand how to build a healthy credit profile.

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Credit Card 411

Credit cards explained. Read about history, APRs, fees and costs associated with credit card usage. Compare all types of credit cards, from student credit cards to top card offers for consumers and businesses.

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Credit reports and scores explained in simple terms. Learn about the three major credit bureaus. Learn how lenders use credit scores to
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Become familiar with financial aid basics. Learn the difference between a federal Stafford loan and a private student loan. Read a review of Find available school financing options.

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credit_card_tipWhen using credit, first create a budget. Use a credit card for planned expenses like groceries and pay the charges off five days before the monthly bill is due.

When possible set up reoccurring automatic payments online for the amounts you have budgeted and charged on the card. The top two, Visa and MasterCard are not the only brands of cards available to consumers.

Franchised businesses and department stores offer their own specific branded card available for use only at store locations. This helps in that the cardholder may not use the card everywhere else.

Prepaid debit cards can be an alternative to traditional credit cards when managing and controlling your spending. With prepaid cards you load money on to the account and only spend the money you have. You’re not “borrowing” every time you spend with a prepaid card. Parents can control what their chidren spend.

There are fees that come with obtaining and using prepaid cards. The fees vary with each card, but it is important you educate yourself on all fees that accompany prepaid debit card usage. If you’re seeking one, shop around and compare the many prepaid cards before signing up for one.

Hassle Free Student Credit Or Face The Debt Sentence

Student credit cards are issued by various banks to students as an introduction to building credit. These are very easy to be approved for because the banks issuing the cards are looking for the very basic credentials. There’s no previous credit required, making it possible for virtually every student to begin building their credit score.

Some of the main benefits to student cards are that it will allow students to buy what they need and pay the amount off in a slower amount of time. There are some very low APRs given out to students as well as some other incentives that can be advantageous, including cash back and discounts at merchants. Many times there are no annual fees and limits are set low to avoid a student getting too far into credit card debt.

There are several banks offering credit cards to college students. Not all of the cards have great deals that will help a student. Some of the pitfalls to avoid are taking on a credit card that has a high APR or an annual fee. Annual fees are a way to throw away money.

Cards are out there that don’t charge annual fees, so it’s important for students to compare options.

Many sites exist that will do the comparisons for a student. This way a student will be able to see the APR, the annual fee as well as other features of the card. By doing some research on the details of the card, it will be easy to avoid some of the worst credit card offers. Introductory APRs are the biggest thing to be on the lookout for.

Student and regular credit cards are virtually the same in many ways. The main differences are student cards have smaller lines of credit and are easier to apply for if you have a co-signer.

News From Around The Web

ForbesMarketplace Lenders Focus On Cheaper Loans, Less Credit Card Debt And Stronger ...ForbesAfter the 2008 financial crisis, banks received a lot of blame. Overly complicated products confused, trapped and often destroyed people's financial lives. Poor risk management allowed banks to collapse, bringing taxpayers along with them. Financial ... [...]
Wed, Sep 02, 2015
Source: Google News
U.S. News & World ReportThe Pros and Cons of a Secured Credit CardU.S. News & World ReportLiana Moran's secured credit card story is becoming more common. After graduating from Georgia Southern University in May of 2014, she landed a paid internship and decided it was time to get a credit [...]
Wed, Sep 02, 2015
Source: Google News
ForbesQ2 2015 Banking Review: Credit Card Charge-Off RatesForbesAn important factor behind the notable increase in profitability for the credit card industry over recent years has been the marked reduction in loan charge-off rates from the highs witnessed in late 2010. In the aftermath of the economic downturn ...and more [...]
Wed, Sep 02, 2015
Source: Google News

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