Should I Give My Teen A Credit Card?

Here are some tips to help you do just that.

• Before you introduce the concept of credit cards to your child, first introduce them to basic banking concepts and how to manage their money with savings and checking accounts. Credit cards should be regarded as secondary tools to assist with money management.

• Ask yourself if your teen is ready for a credit card. Can he manage his own money? Is he responsible with it?

• Make sure your child understands the ups and downs of having and using a credit card. Discuss late payments, interest and the impact of credit reports.

• Look at the types of credit cards available, as well as your child’s readiness, and determine which card would work best.

• You will want to establish guidelines early on as to use of any card you give your child. Determine what purchases will be allowed, and what qualifies as an “emergency.”

• Work with your child to help him understand that the bill should be paid in full each month, explaining the effect that minimum payments and interest will have on his bill.

• Make sure you have access to your child’s card so that you can monitor not only the use of it but the payments made as well.

• If your child gets in over his head, consider the message you send out if you bail him out.

Source: Should I Give My Teen A Credit Card? 

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Credit Card Stolen? Here's What You Do

Despite high-profile media attention, the odds of having your credit or debit card number stolen by crooks remains at historically low levels. That said, it's always good to know what to do in case lightening does strike and someone fraudulently uses your card. Left unchecked, they might try to run up bills, drain your checking account or worse -- steal your identity.

Here are actions to take if this happens to you, as well as preventive measures that can lessen your risk going forward:

Call the card issuer. First, contact the bank or credit union that issued your card. You'll find a toll-free number on the back of your card, on your billing statement or at the company's website. The issuer will closely monitor your account for odd behavior and may either reissue a card with a new CVV (card verification code) number or issue an entirely new card number. Read Full Story

Financial New Year’s Resolutions Tricks for Students

Perhaps you have completed your listing of resolutions for your New Year? Have you ever included resolutions to enhance your own finances? Look at the following tips about how you can establish and gaze after a good credit score as being a college student.

Seek out the correct student plastic card. There are yet sent applications for each student bank card, consider getting one inch the entire year 2012. However, you have to make sure that the cardboard you decide on suits your requirements and lifestyle. Don’t forget to check the interest and also the rest of the fees linked to the card. Pick a student plastic card that reports on the three major credit agencies to be sure that you'll be able to establish credit history.

Cut down your financial troubles if applicable. In the event you have unpaid charge card balances, it’s high time to pay attention to repayment. If you’re creating a awkward time reducing the money you owe, consider asking aid from your folks or from a relative who is financially capable. It's also possible to get a student charge card with zero balance transfer rate in order to develop paying down the original balance you borrowed from without incurring APR charges
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How to Wisely Use Your Student Credit Card for any Holiday Journey

For most people, the holidays is usually a time for you to proceed loosen up, to be on a trip, or perhaps check out relatives who stay overseas. Are you currently trainees who lifestyles with a getting on school, a long way away from the family members? If yes, you are certainly getting ready to get back and also spend the holidays along with your loved ones.

In the following paragraphs, let’s concentrate on the best way to make use of your student bank card in your favor when you’re a weight getaway vacation this season:

Obtain rewarded. Can the college student credit card offer journey benefits or money back bonuses? If so, be sure that you will certainly earn points for each and every money a person allocated to vacation expenses. This is a great time to review the terms and conditions of your provider. Find out which air carriers, accommodations, and also car rental organizations are usually associated with the greeting card since this will enable you to make more factors from the fees.

Take pleasure in the perks. The majority of incentive charge cards offer you free travel insurance as well as car hire insurance for the cases. Amazingly, plenty of card holders aren't using these rights whatsoever. However, you save from $50 in order to $100 upon these extra costs by not necessarily purchasing a separate insurance and make use of the insurance coverage the prize credit card offers instead. Keep Reading


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Five things to discuss with your freshman

BY STEVE ROSEN
The Kansas City Star

Here are my freshman five to address:


• Monitor the checking account. Why is your daughter running short of cash each month? Was the $250 monthly deposit in her account to cover personal expenses unrealistic? 


• Get a debit card. If your college student has been writing checks and paying with cash — and handling money responsibly at that — it’s time to graduate to a debit card. With a debit card, you can easily monitor the account online and replenish with funds when necessary. The down side is that a debit card won’t help your child develop a credit history.


• Time to add a credit card? The best option is to add your student as an authorized user to your account. That way, you control the account, but your child can start building a credit history. And if your college kid is misusing the card, you can have him removed from the account. The other approach is to co-sign on a credit card account. It would be in your child’s name, and help start him on building a credit history.


• Taking a car back to campus. If your freshman didn’t have a car at school during the first semester, but will be returning in January with a set of wheels, alert your insurance agent. 


• Check the health care coverage. You thought your HMO covered your daughter who attends college in another state. It wasn’t until an asthma attack sent her to a hospital emergency room that you discovered the hole in your coverage Read Full Story

Take full advantage of 0% University student Bank card This kind of Christmas time

Since customers gear up, able to spend more money in preparation regarding Xmas and New Year, many credit card companies provide special deals like returns or even 0% opening Interest rates. Actually individuals may grow their credit card spending throughout the holidays.

If you’re each student, in the event you get yourself a 0% Apr interest rates minute card? How may you take full advantage of a charge card that gives 0% preliminary fee? How can you use it to your benefit and prevent the potential risk of negative debts? In this post, let’s response these queries one by one:
In case you Apply for a 0% Annual percentage rates Student Charge card?

Students are advised to be cautious whenever getting bank cards. Keep in mind, taking care of numerous company accounts will show to be a greater challenge. Obtaining way too many bank cards will simply encourage shelling out of course, if you run upward amounts about every single minute card, payment could be a stress. Being unable to pay back your current credit card amounts entirely can result in debt build-up as well as a bad credit score. Continue Reading

Credit card debt plagues college students

Credit card debit is a problem encroaching on many college students as they begin to become more financially independent.

A survey regarding credit card use that was distributed to a random sample of 100 CSM students showed that nearly half of them use credit cards. 67 percent of students do not use their parent's credit card, meaning they already started to work on their credit history.

Credit cards help students start their credit earlier for future important purchases such as a home or a car, said Ben Peras, Bank of America branch manager of the El Camino branch in San Mateo.

"Anybody 18 and over can have a credit card, and in some cases they need a cosigner that is usually a parent," he said. Read Full Story

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Reasons You Should Handle Credit Cards With Care in College

If you talked your parents into cosigning for credit cards, then you might have been lectured about the dangers of college credit card overspending. You know to pay bills on time, use credit cards only when necessary, keep balances low, charge only what you can afford and avoid staggering credit card debt.


Yeah, yeah, yeah.


You know the instructions for wise credit card use. Now, here are 5 reasons to follow those instructions:


1. Get a Car After College
2. Avoid Icky Credit Report Confrontation
3. Impress Employers at Graduation
4. Avoid Paying for Credit Card Splurges When You’re Married with Kids
5. Less Credit Card Debt = More Spending Money

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