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[C73]Can T Get A Credit Card

by Hugh Thorpe, Hug

Heard about cash back credit cards? Sounds too good to be true, doesn't it? It's hard to even imagine getting money back for all the things you buy with your credit card. It really sounds unbelievable, doesn't it? But there are lots of credit card companies out there that offer this sort of deal. You can say that getting about 1% of the money from your purchases back isn't much. However, it's free money, isn't it? But here is the catch.

If you are one of the heavy credit card users and you make a lot of purchases in a month, this probably sounds like a wonderful deal. The catch is that they don't give you cash back on everything you buy. They may say they give you a certain percentage cash back on everything you buy, but there may be a limit to how much you can get for each purchase. Most companies have lots of rules and regulations concerning how much they will give you back. So you have to read all the fine print very carefully. Offers like these are often just ploys to try to get new customers. your credit rating must be in order to take advantage of such offers. Since no company wants to give away free money, they will check your credit history carefully before giving you a card like this.

It's always a good idea to shop around a little before you pick a credit card. There is a wide variety of different credit cards out there, and you might find just the right one that suits your buying needs. You could find great deals that gives you back a high percentage of cash back with few rules and limits. Chances are, the better the deal is, the more carefully they will scrutinize your credit history. There are some credit card companies that offer good deals to customers who are looking to repair their credit rating and rebuild good credit. Look into everything and don't forget your individual tastes and buying habits.

Your decision of accepting a deal like this should be based on your own habits and needs. Like most things in life, there is no one-size-fits-all credit card. There are companies that offer cards with up to 3% back! Always keep in mind though; deals that seem too good to be true most often are. Still, a credit card with cash back may not be the one for you. You may want one that will help you rebuild your credit rating, if that is necessary. Keep all this in mind and read the fine print carefully when choosing a credit card.

As its name would suggest a college credit card is simply a credit card which has been specifically designed for college students and which is perhaps more commonly known as a student credit card. The idea behind student credit cards is that they allow students to learn all about credit cards and to experience the benefits of credit cards early in their lives. In effect, a college credit card is an introduction to the world of credit cards and, although s student may have had experience of using a supplemental card on a parent's credit card account, represents the first credit card which the student will have in his own right.

To all intent and purpose college credit cards operate in exactly the same way as normal credit cards but there are a few differences which you need to know about. These differences arise because the credit card companies are taking something of a risk by extending credit to people who will generally not have any credit history and thus need to protect themselves from the increased risk of debt on student credit cards.

The first important difference is that the credit card companies require a parent or guardian to co-sign the student's application for a card, so that the parent or guardian is aware that the student is applying for a line of credit, and will also require the parent or guardian to stand as guarantor for the account. In other words, if the student defaults on the card then the parent or guardian will be legally liable to make good on the debt.

The second difference with a student credit card is that the credit limit is set at a lower level than that seen on normal credit cards and typically at between $500 and $1,000. This limit is also set at a reasonably low level because this is considered to be sufficient to meet the needs of the vast majority of college students.

Finally, the credit card companies also offset their risk by setting the interest rates on college credit cards (the card's APR) higher than normal to try to stop students from overspending on their cards and to encourage them to keep their spending within the amount which they can afford to pay off each month.

On the surface college credit cards may not seem very attractive to those of us who are used to using normal credit cards but in fact they can be a very useful tool for teaching youngsters to handle credit responsibly and have the added benefit of providing students with the ability to build up a good credit record, which they will find very useful once they leave college.

College is a very expensive time for most students and there are very few students who will make it through college without a mix of parental support, grants and scholarships, federal loans, private loans and a part-time job. This is hard enough in itself to manage and all too many students have problems coping with this and end up having to refinance their loans, often through student loan consolidation. If we now add a credit card into the equation we might just be providing the straw that breaks the camel's back for some students.

Whether or not college credit cards are a truly good idea or simply another marketing ploy by the credit card companies is something which you must judge for yourself but, whatever your view, they are certainly something which must be approached with both eyes open.

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Both Hugh Thorpe & Donald Saunders are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Hugh Thorpe has sinced written about articles on various topics from Management Software Solutions, Credit Cards and Free Credit Report Score. . Hugh Thorpe's top article generates over 8100 views. to your Favourites.

Donald Saunders has sinced written about articles on various topics from Health Insurance, Forex Training and Diabetes Treatment. TheDebtAssistanceCenter.com provides and answers a range of questions such as how to deal with. Donald Saunders's top article generates over 165000 views. to your Favourites.