0
If your student credit card uses different rates for purchases, transfers, and cash advances, realize that the credit card company may pay the lower interest rate balance first. Consequently, if you carry a balance, your high-rate cash advance may not be "paid" until all lower-rate balances are paid in full. Fixed-rate student credit cards are not fixed forever. Rates can be changed at any time, as long as the card issuer provides 15 days advance notice of the change in terms. Fees may also increase. These "Change in Terms" notices are usually included with your monthly statement. Your interest rate may dramatically increase if you make late payments. For example, some issuers will raise your interest rate to the maximum after one or two late payments. Consequently, your 12% student credit card could quickly turn into a 25% credit card. Your credit card issuer may also raise your interest rate after conducting a routine credit report review. If your overall credit history has deteriorated, the issuer may raise your interest rate, even though you've never made a late payment on the card in question. The 25-day grace period only applies when you pay-off your entire balance due each month. If you only pay the minimum payment, interest is immediately accrued from the moment you charge something to your credit card. Some companies are also shortening the grace period to 20 days, and some student cards have no grace periods. Ignore offers to reduce or skip payments. These options are frequently offered over the holidays. When you skip a payment, the loan continues to accrue interest; therefore, these offers simply increase the overall interest and finance charges that the creditor collects. On a similar note, beware of offers of no payment/no interest for a period of time. Furniture stores, jewelry stores, and electronics stores frequently offer these programs. For example, "no payment/no interest for 12 months!" This can be a good offer, but once again, read the fine print. Make sure you know the details of the program. Generally, you need to pay off the entire balance before the end of the "free" period to receive the benefit. Otherwise, you will probably have to pay interest on the entire balance from the date of your purchase.
Here are more opinions and answers from other FAQ Farmers:
-
Note that the Citibank Student Card is one of the most popular and longest running student credit cards. It's the one I had in school.
-
I would not sign up for any Citibank card. Having done business with Citibank before I'd like to warn everyone that the company makes lots of mistakes and has ineffective internal controls. I actually had to threaten to call my lawyer to get a few things done, my case ended up on an EVP's desk who finally straightened everything out and apologized with a Mea Culpa in writing. Discover card is the way to go, I've never had a problem with them and their customer service is amazing. Good luck!
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
What are the requirements needed to get a Citibank student credit card?
In order to get a Citibank student credit card, one must be a student, then have to have one student card. Another requirement to get a Citibank student card is identification.
Student credit card?
A student credit card is designed for the use of University students and high school graduates. A student is qualified to apply for this credit card if he or she meets the bank's requirements. Most banks require students to open a savings account as part of the qualifications. Getting a student credit card is now easy with the collaboration of universities and credit card companies.
What are the advantages to having a student credit card over a standard one?
student credit cards and other credit based items such as student loans - Students: apply online fast with a credit card company of your choosing when you feel you are educated and ready. A college credit card can be a student's first step in building good creditA student's first step in obtaining a credit card is to become educated about wise credit usage.
What is the right age to get a student credit card?
Whenever you start university (or, in America, college), is the correct age to get a student credit card.
Where can you apply for a student credit card?
Several credit card companies offer student credit cards and they can be applied for right on their websites. You can do this through Mastercard, Visa, American Express, and more. You can also try looking at your school's website to see if they offer a student credit card.
What are the requirements needed to get a Citibank student credit card?
In order to get a Citibank student credit card, one must be a student, then have to have one student card. Another requirement to get a Citibank student card is identification.
Student credit card?
A student credit card is designed for the use of University students and high school graduates. A student is qualified to apply for this credit card if he or she meets the bank's requirements. Most banks require students to open a savings account as part of the qualifications. Getting a student credit card is now easy with the collaboration of universities and credit card companies.
Where can I get high school student credit cards ?
If you have a job or if you are a working student, you can apply to have a credit card. Because credit card companies like HSBC will not allow people to apply for a credit card without a salary. If you are a working student, you can apply for one and the amount or limit of your credit card will depend on your salary.
What are the advantages to having a student credit card over a standard one?
student credit cards and other credit based items such as student loans - Students: apply online fast with a credit card company of your choosing when you feel you are educated and ready. A college credit card can be a student's first step in building good creditA student's first step in obtaining a credit card is to become educated about wise credit usage.
What is the right age to get a student credit card?
Whenever you start university (or, in America, college), is the correct age to get a student credit card.
Where can you apply for a student credit card?
Several credit card companies offer student credit cards and they can be applied for right on their websites. You can do this through Mastercard, Visa, American Express, and more. You can also try looking at your school's website to see if they offer a student credit card.
What are the benefits of a student credit card?
Some of the benefits of a student credit card are that they allow you the opportunity to establish a credit rating. Many student cards also offer rebate rewards which are also beneficial for students.
How do you get a student credit card?
You can get one from your bank.
Do you think Credit card is necessary for a student?
A credit card is definitely not necessary for a student. In fact, it would be much better if the student did not have a credit card. A plethora of students become thousands of dollars in debt because of unwise decisions with their credit cards. If a student careful budgets the money he earns and makes wise spending decisions, he will be much better off than using a credit card.
How do the features of the Citi student credit card compare to other cards for students?
The Citi student credit card requires better credit to be approved, and you have to have a special card to receive cash back for purchases. It is not automatic and there are not many choices for student cards available.
What is a free credtit card number?
If you are looking to obtain a fee-free credit card, you should use the related links section to choose a website which allows you to compare different types of credit cards. From that site you should be able to apply for a credit card that you want.
What are the benefits of acquiring a student credit card?
A student Credit card can be good if they are overseas or if they need emergency cash. They can also make a student more responsible and learn to handle money.
