Get A Degree In Financial Independence; Get A Student Visa Credit Card

Posted by Nick Niesen on October 29th, 2010

You carry a full load just like your classmates. Unlike your classmates, however, you do not party the night away or sleep off the little migraines caused by exams. No matter how tired or weary you are, you have to trudge to a convenience store two blocks away, and clock in at least six hours of work. It doesn't seem to matter how hard you work, though. You can still barely pay for school, and you are still saddled with student loans that only seem to balloon with every passing term.

Obviously, whoever said there are many more important things than money has never tried being a poor student, juggling work and classes and barely making ends meet. If you're one, and you have to keep worrying about where money for emergencies will come from, why not get a student Visa credit card? Since their creation in 1950, credit cards have made purchasing and payment more convenient for the public. Student Visa credit cards give you the same power even if you're a struggling student on a budget.

Introduction to Credit
Before you get a student Visa credit card, you should know the basics about credit itself. You need good credit when you get loans for homes or vehicles, look for a job, or more importantly, apply for a credit card. Your credit record is like your shadow: it follows you wherever you go. Before getting a student Visa credit card, be sure to take these steps, to help ensure you can maintain a clean credit record.

1. Study the credit card agreement.
There won't be a quiz afterwards. Still, you should learn the key facts that are listed in the agreement. These include annual charges, finance charges, the grace period, and the APR, or annual percentage rate. It is advisable that you find a card with a lower APR, if you intend to maintain a balance on your credit card account.

2. Pay off your balance before the grace period ends.
Do this to avoid finance charges. Think of the grace period as a loan for a month. If you pay off the loan within a month, you won't be charged interest.

3. Memorize your credit limit.
There is no excuse for not knowing your credit limit. If you exceed the credit limit and are unable to pay for it, you could face stiff penalties, fees, and the possibility of having your card frozen or your account canceled.

Choosing a Card for Credit University
Choosing a student Visa credit card is like choosing a college course. You should first gather information and then determine which one is best for you. Here are some popular cards that you could choose from.

Bank of America Student Visa Platinum: Benefits include no annual fee and no co-signer required.

Chase Platinum Student Visa Card with Flexible Rewards: Benefits include no annual fee, and 0% introductory APR.

Citi Driver?s Edge Visa Card: Benefits include no annual fee; rebate on purchases at gas stations, grocery stores and drugstores; and 1% rebate on everything else you purchase.

Wells Fargo College Visa Card: Benefits include no annual fee, low APR percentages, 24-hour customer service, and extra cards at no charge.

A student Visa credit card is not just a safety net in case of emergency. It is also an opportunity to prepare for future financial independence.