Applying for student Credit Card – 1
By HSB
In U.S. everything depends on credit history. Its the term unheard of in India. But, credit history is what that will buy you everything. Right from car, apartment, home, good interest rate, cell phone connection, utilities connection and so on.
What is Credit History?
* A file detailing an individual’s current and past debt payments and financial obligations.
( www.realestateglossary.com/real-estate-glossary/c.html )
* An official record detailing how people manage their debts. This information is collected by the three major credit reporting agencies and includes everything from one’s Social Security number, current and prior addresses, detailed status of all credit lines or loans and employment info. A bankruptcy also appears in your credit history if filed withing the past 10years. …
www.schoolwork.org/student-credit-cards-3.html
There are few steps that would hep students to build credit history. From my experience, most of the students will have credit card debt. I was asked to post this article, by few students who are now in BIG DEBT, within 2 semesters. Usually, we wont feel the the debt, when we use the card, but if you make small purchases, and keep paying minimum balance, instead of paying in full, in couple of months, you will be in debt.
So, having your credit card debt under one’s control is very important. If you talk to your seniors, you will understand.
It’s Monday morning and long week ahead. Keep checking the posts. I will try to explain in detail about building credit history, what cards to apply, how to apply, what if your application is rejected, and how to build good credit history….
First step to better credit history come from opening Checking and /or Savings Account with a bank.
Related posts:
- Applying for student Credit Card – 2
- What to look when applying for credit card?
- Student > H1B Visa > Green Card > U.S. Citizen Abraham
- Social Security Number
- When To Apply for Student Education Loan?
