3 High School Student Credit Card Tips
It used to be that parents didn't find themselves considering credit cards for their children until those children went off to college, but nowadays a high school student credit card might be more appropriate. If you have a high school student at home and you've been wondering if a credit card might be a good tool for them, there are three things you need to keep in mind.
1. It's a "Minor" Issue
If your child waits till college to get a credit card, chances are it's going to be in his or her name only -- meaning your credit is off the hook should they mismanage the card or abuse their credit. If, however, your child is a minor (as most high school students are) then your child is going to need to be using one of your credit cards as a secondary user. This means your credit is on the line, not theirs.
Minors can't get their own cards, so you'll be towing the line if your child is under 18 with a credit card in their pocket. If your child isn't responsible enough to manage the card wisely, you'll end up paying for their mistakes, and those mistakes can cost big time.
2. It's All About Boundaries
If you do decide to let your child have a high school student credit card, you need to set up boundaries the moment that card is issued. What can the card be used for? How much is your child allowed to spend? Should he or she contact you for permission prior to using the card?
By setting up clear boundaries you can avoid future headaches (and unpleasant statement surprises). If you simply say "this card is only for emergencies" your child might not understand. For all you know, that cute coat in the mall could be an emergency to a high schools student. Explain exactly what constitutes an emergency and set up firm rules, making sure your child understands what the consequences will be if those rules are broken.
3. Go Over the Statements Together
A high school student credit card can be a great way to teach your child financial responsibility, but for that to happen your child has to be involved in paying the bill. When the credit card statements come in each month, go over them with your child. If there are frivolous charges, discuss them and talk about responsible credit card spending.
Let your child watch you write the check to the credit card company and make sure they pay you for their share of the bill. This will teach them that plastic needs to be used just as responsibly as cash.
While a credit card isn't right for every high school student, there are definitely some who can benefit from them. If yours is one of them, by all means get them started on the road to a healthy credit future and let them learn from the use of a high school student credit card.
Monday, April 30, 2012
3 Easy Steps To Apply For A Credit Card Online
3 Easy Steps To Apply For A Credit Card Online
The proliferation of credit cards can be attributed to a lot of things, as a matter of fact; most Americans own more than one credit card. Its convenience of use, fast and easy application has produced more credit card owners in our society compared to the previous generation.
Having websites that offer online applications for credit cards have also been great swaying factors in making more Americans think about getting a credit card. And why not? This innovation in credit card marketing has made the process much easier. Now you don't even have to leave the comforts of your own home. All you need to have is a computer, an internet connection, your personal information (like your credit rating or credit score, which incidentally you can get online as well) and a little time and effort to find the website which could allow a safe and easy method on how to apply for a credit card online.
The first step is to find a credible website which you can trust your personal information. What you can do is to try looking one from a search engine such as MSN, Google or Yahoo. Make sure that their site features secure SSL Technology protection. You can also try to call them and asking them about their security and their track record. Then if you are convinced that they are a legitimate site, you can try to look at what they are offering.
Browse their website and make sure that they offer all of the major credit cards available today. Search for the type of credit card that you want, if you're not sure what suits you, try to read some of the articles and descriptions the site has for them, good credit card application websites have these feature to help potential clients.
The second step is to compare all the cards that are available in the site. With so much competition nowadays between these credit card companies, each and every one of them tries to outdo each other by offering lower interest rates and with lots of other credit card offers.
Many of these offers include zero percent APR's, low fixed interest rates, cash backs, zero liability in unauthorized purchases, no annual fees, low interest rates for balance transfers, and lots of others. Make sure you understand what the promos are about and see if they last for a definite or a variable time frame. Sometimes the lowest interest rates may not be the best idea, they may only last for 6 months then the rates may go soaring.
The last step is the actual application. After ensuring that you are satisfied with what you have learned in steps 1 and 2, you can proceed to step three, which is the easiest part. All you need to do is to provide all the information that's being asked for.
This will include your name, your address, your income, your employment and business, your credit rating, whether you have been bankrupt and a lot of others. Upon completion, all you have to do is submit the application, which is done automatically on the site.Then all you need to do is to wait.
Although the application is very easy, the approval is the hard part. Not everyone gets easily approved, especially for the great deals. People with great credit reports are usually the ones who gets approved easily and in no time at all because the establishments or credit card companies know that they are good payers.
The proliferation of credit cards can be attributed to a lot of things, as a matter of fact; most Americans own more than one credit card. Its convenience of use, fast and easy application has produced more credit card owners in our society compared to the previous generation.
Having websites that offer online applications for credit cards have also been great swaying factors in making more Americans think about getting a credit card. And why not? This innovation in credit card marketing has made the process much easier. Now you don't even have to leave the comforts of your own home. All you need to have is a computer, an internet connection, your personal information (like your credit rating or credit score, which incidentally you can get online as well) and a little time and effort to find the website which could allow a safe and easy method on how to apply for a credit card online.
The first step is to find a credible website which you can trust your personal information. What you can do is to try looking one from a search engine such as MSN, Google or Yahoo. Make sure that their site features secure SSL Technology protection. You can also try to call them and asking them about their security and their track record. Then if you are convinced that they are a legitimate site, you can try to look at what they are offering.
Browse their website and make sure that they offer all of the major credit cards available today. Search for the type of credit card that you want, if you're not sure what suits you, try to read some of the articles and descriptions the site has for them, good credit card application websites have these feature to help potential clients.
The second step is to compare all the cards that are available in the site. With so much competition nowadays between these credit card companies, each and every one of them tries to outdo each other by offering lower interest rates and with lots of other credit card offers.
Many of these offers include zero percent APR's, low fixed interest rates, cash backs, zero liability in unauthorized purchases, no annual fees, low interest rates for balance transfers, and lots of others. Make sure you understand what the promos are about and see if they last for a definite or a variable time frame. Sometimes the lowest interest rates may not be the best idea, they may only last for 6 months then the rates may go soaring.
The last step is the actual application. After ensuring that you are satisfied with what you have learned in steps 1 and 2, you can proceed to step three, which is the easiest part. All you need to do is to provide all the information that's being asked for.
This will include your name, your address, your income, your employment and business, your credit rating, whether you have been bankrupt and a lot of others. Upon completion, all you have to do is submit the application, which is done automatically on the site.Then all you need to do is to wait.
Although the application is very easy, the approval is the hard part. Not everyone gets easily approved, especially for the great deals. People with great credit reports are usually the ones who gets approved easily and in no time at all because the establishments or credit card companies know that they are good payers.
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