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WRITING A PAPER
 

Irony 101...  It seems funny, but now is the very best time to establish credit, when you are still a student. If you wait too long, graduate and get a job, it is much harder to qualify for a credit card or a loan. This is because the banks look at a student's potential while they look at the reality of that entry level job held by the recently graduated worker. A credit card in your own name can help you build a good credit history, a valuable asset when applying for car loans, apartments, jobs or mortgage later. Plus, there is no safer and more convenient way to make purchases if you shop online or over the phone. Learning how to choose and use a card is an important first step. Here are some guidelines to help you take charge of your finances:

Shop for the card that suits your needs
Read credit card agreements carefully. Then choose the best card for you based on its benefits and features, such as discount air travel, cash back and rewards. It's worth the time to find the right card that gives good value and service.

Don't get in over your head
Credit cards don't give you more money - just spending power. It's okay to finance purchases when you need to, but remember that you will have to repay the money with interest if not paid in full. So use your credit card wisely and sparingly.

Create a good credit history
Always pay your bills on time, every time. Pay late or go over your limit, and you'll not only pay a fee, but it can appear on your credit report. Don't apply for more credit cards than you need, too much available credit can make you look like a risk to future lenders.

Student Card Offers

Citibank has long been a leader in providing credit cards for college students featuring a low interest rate and no annual fee, $0 liability for any unauthorized charges to your account and free online account management. They have four programs to suit your needs: 

    1) The Citi(R)Dividend(R)Platinum Select Card for College Students gives you all the prestige of a premium card and cash back too.

    2) The Citi(R) Driver's Edge(R) Card for College Students is perfect for the student who plans to purchase a car in the future since a percentage of every purchase earns rebates toward the purchase of any new or used car.

    3) Citi(R)Platinum Select(R) Card for College Students

    4) The Student Visa Card  has no annual fee, 0% apr for 6 mo., up to 3% cashback and free online account access.
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Chase: The consumer, small business and middle market financial services franchise of J.P. Morgan Chase & Co. operates under the Chase brand. Chase delivers financial products, services, advice and planning to more than 30 million individuals, small businesses and middle market customers across the United States. Chase offers two credit cards for the student market:

1) Chase Platinum for Students is made just for you and your needs. It comes with a 5.99% Introductory APR* on purchases and balance transfers, no annual fee and tons of other cool benefits, like FREE Membership in Chase Ultimate Rewards Express^SM!

2) Universal Entertainment Student MasterCard^®

• If you are a student enrolled at an accredited four-year college or university
• Fixed 7.99% introductory rate for 6 months on purchases and Balance Transfers
• No annual fee
• A FREE movie ticket*
• Earn Universal reward points with every purchase
• Redeem your points for FREE CDs, DVDs, Movie Tickets, and much more
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Discover^® Financial Services, a business unit of Morgan Stanley & Co. (NYSE:MWD), operates the Discover^® Card brands. There are two Discover^® Student cards:

1) Discover® Classic Student Card Apply for a No-Annual-Fee Discover® Classic Student Card with all of these privileges: No Annual Fee, Up to 2% Cashback Bonus® award*, and Online Account Access and Bill Payment. Start Saving Today – APPLY NOW! It's fast, easy and secure.

* This online application is subject to the terms and conditions as described in the Important Information Section of the application.

2) Discover^® Card for Students - Clear Design

• No Annual Fee
• 100% Fraud Protection
• Up to 2% Cashback Bonus® award*
• Online Account Access and Bill Payment
• Cool, Clear Design
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Prepaid or Debit Cards

The Vaya® MasterCard® Card is a prepaid MasterCard® that you fund through transfers from your bank account or directly from your paycheck. You decide how much money to load onto your MasterCard®. Enjoy all of the benefits of a MasterCard® card, but with no finance charges, no security deposits, no credit checks, and no bank accounts required. It's good at more than 28 million MasterCard locations. And gives you instant cash access at more than 800,000 ATMs worldwide.
 

Wired Plastic MasterCard® Card

• Guaranteed Approval Stored Value MasterCard®
• Use anywhere MasterCard is accepted (over 30 million locations)
• No bank account or employment verification
• No ChexSystems or Credit Bureau inquiries
• Earn 1 Wired Point™ for every $1 you spend
• Redeem Wired Points™ for prepaid Wireless, Internet and Calling Cards
• Receive payroll and government checks (Unemployment, Social
• Security, Welfare, Medicare, Disability, IRS) directly to your card.
• Pay any bill with our convenient ClickPay™ service (Car, Rent, Utility)
• Add cash instantly with Western Union® SwiftPay®
• Add cash at over 25,000 locations using InstaPay
• Access cash at more than 1 million ATMs.
• Powerful online account management.
• 24-hour toll-free account information line

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Secured Cards

Cross Country Bank® Secured Visa® Gold Card® Get the credit you deserve with the Cross Country Bank® Secured Visa® Gold Card®! Now you can enjoy the prestige and purchasing power of a Visa Gold card, Plus these additional benefits.

• No Collection Calls
• No Late Fees*
• No Nonsense

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Catalog Cards

Guaranteed* Platinum! Start with a minimum $7,500 credit limit! While you establish your credit with a GUARANTEED* Unsecured USA Platinum Credit Card! No Credit Checks, No Credit Turndowns* and No Employment Verification!

Getting the credit you deserve is as easy as pie when you apply for a $6,000 Unsecured card from All American Gold. Enjoy great merchandise, while you establish your credit. We will even report your new credit to major credit bureaus. Apply Today and start shopping soon!

USA Gold Card is $5000 Unsecured credit card for people with less than perfect credit. There are no credit checks, no job verifications, approval is Guaranteed* and it reports to major credit bureaus

Banks have strict requirements as to who they approve for their credit card programs. Because the economy is down they have tightened their restrictions even more. Premium cards that offer rewards or cash back are generally the hardest to obtain. If you don't qualify for the card you want, don't despair. The best strategy is to lower your sights a bit and apply for an easier to get card. The good news is that over time a less desirable card will become more valuable simply because you have established a credit history with it. At that point, assuming your history shows on time payments and good habits, you will be able to step up to a credit card that has all the features and benefits that you want.
 

TYPES OF CARDS

Credit Cards these days are nearly as varied as the cardholders who use them. Our mission is to help make sense of the various offers available to the student by providing detailed information about these cards and links to the secure sites where applications are accepted.

STUDENT CARDS
Student Card Offers require that you be enrolled in school, usually in a 4 year institution for approval. These offers take into account your student status when it comes to having a job or money in the bank. Even so approval is not automatic. (Hint: the Citibank offers are good for a wide variety of trade schools, business schools and community colleges.)

CATALOG CARDS
Catalog Cards are credit cards that are used specifically to purchase items from a single source such as a catalog or a website. They are typically used as entry level credit cards for people wanting to establish credit or as a way to rebuild damaged credit.

SECURED CARDS
Secured Cards are credit cards where that credit line is secured by equity, Typically this is in the for of money on deposit in the issuing bank. They differ from debit cards in that they do extend you credit like any credit card. In addition your status can be upgraded over time to unsecured and your credit limit raised as you establish a good credit history. These cards are an avenue for people with poor or no credit to prove themselves.

DEBIT CARDS
Prepaid or Debit Cards look like a typical Credit Card and are good everywhere the card is accepted. Debit cards allow the user to user to purchase without the worry of carrying large amounts of cash and without the hassle of writing checks

CARD SEARCH SERVICES
The First United Group is an online service that promises to find an unsecured credit card for people with damaged credit for a fee. They offer a money back guarantee.

REWARDS CARDS
Rewards Cards are credit cards that return a percentage of the amount that the consumer spends with that card as a reward for using it.  Rewards can be in the form of discounts, merchandise certificates, rebates and similar savings on products, services and travel.

PROTECT YOURSELF
Make a list of card numbers, expiration dates, and the toll-free numbers of your credit card companies. Keep this record in a safe place, separate from where you keep your cards. Use this information if you ever have to report your cards lost or stolen
 

FINANCING EDUCATION

  
Credit cards are designed to be used as vehicles for short term loans involving purchases. In an ideal world your credit card balance would be paid in full at the end of every month. This is because the interest rates are much higher on credit card debt than for other types of loans.

If you get into a bind do not use credit card debt to finance your education. Explore other options with the financial aid office of your college or university. They understand your situation and have the expertise to help.