The practice of Universities restricting - and in some instances even banning - credit card companies from soliciting business from students on campus, still continues.
Their reasoning: to protect students.
According to the majority of universities that impose restrictions, an undisclosed amount of students have gone bankrupt and stopped studying as the result of debt.
The questions are whether the credit card companies are to blame and whether an on-campus ban is really an effective way of dealing with student debt.
Quite frankly, the answer is 'no' on both scores.
Perhaps the issue could be addressed more effectively through teaching young adults a (much ignored) critical life skill - that of personal finance management - instead.
Considering the role credit plays in the life of the vast majority of Americans, credit cards are an ideal practical medium of instruction, with the parent or guardian - in many instances - the most appropriate guide.
There are quite a few credit cards aimed at the student market in circulation.
Interestingly, and in spite of the fact that they have no on-campus presence, the Blue Student from American Express credit cards emerged as the firm favorite with students.
It is this popularity that parents and guardians of students could capitalize on to teach their young adult children, credit wisdom.
What makes the Blue Student from American Express credit card a good instruction card is that it incorporates most of the features and benefits that you will ever find in any credit card: RFID, awards, online card management, internet banking, shopping discounts, travel, purchase protection, fraud protection, buyers' assurance and more.
The Blue Student from American Express credit card also offers good terms.
They offer a six month 0% APR introductory period, no annual fees, 12.
24% purchase APR and a 20 day grace period.
Learning good credit card management is really not all that difficult if you stick to a few ground rules.
We will use the Blue Student from American Express credit cards as an example.
Manage your Purchases The credit limit that comes with your Blue Student from American Express credit card should not be seen as expendable income over and above your normal income.
Do not spend more than you can afford to settle at the end of each billing cycle.
If you do make a large purchase, and would prefer to make down payments on the purchase, charge less items to your credit card until the large purchase is paid in full.
This practice will keep your interest charges to a minimum.
Avoid Paying Higher APRs Remain within your Credit Limit: The purchase APR of the Blue Student from American Express credit card is both fair and reasonable.
However, you could move out of this APR bracket into a 20%+ APR if you breach your credit card limit.
To help you avoid this, Blue Student from American Express credit card offers an online facility through which you are able to manage your card, in addition to notifying you of account activity via your email address.
Cash Advances: Taking cash advances from credit cards are very expensive.
On the Blue Student from American Express credit card the APR on cash advances is 11% higher than a purchase APR, and best avoided.
Pay on time: The Blue Student from American Express credit card 0% introductory APR and the low 12.
24% purchase APR are tied to you being a responsible payer.
If you default, you will automatically start paying a default APR, which could be anything from 20.
24% to 30.
24%.
Build a great Credit Score When you graduate, and you manage to land a great job, you may want to buy a place of your own or perhaps even a new car.
This will involve securing credit.
The greater your credit score, the more advantageous your interest rate.
Building your credit score simply demands of you to display responsible credit card management behavior.
It is really not all that hard: avoid breaching the limit of your Blue Student from American Express credit card, and pay your card on time all the time.
Their reasoning: to protect students.
According to the majority of universities that impose restrictions, an undisclosed amount of students have gone bankrupt and stopped studying as the result of debt.
The questions are whether the credit card companies are to blame and whether an on-campus ban is really an effective way of dealing with student debt.
Quite frankly, the answer is 'no' on both scores.
Perhaps the issue could be addressed more effectively through teaching young adults a (much ignored) critical life skill - that of personal finance management - instead.
Considering the role credit plays in the life of the vast majority of Americans, credit cards are an ideal practical medium of instruction, with the parent or guardian - in many instances - the most appropriate guide.
There are quite a few credit cards aimed at the student market in circulation.
Interestingly, and in spite of the fact that they have no on-campus presence, the Blue Student from American Express credit cards emerged as the firm favorite with students.
It is this popularity that parents and guardians of students could capitalize on to teach their young adult children, credit wisdom.
What makes the Blue Student from American Express credit card a good instruction card is that it incorporates most of the features and benefits that you will ever find in any credit card: RFID, awards, online card management, internet banking, shopping discounts, travel, purchase protection, fraud protection, buyers' assurance and more.
The Blue Student from American Express credit card also offers good terms.
They offer a six month 0% APR introductory period, no annual fees, 12.
24% purchase APR and a 20 day grace period.
Learning good credit card management is really not all that difficult if you stick to a few ground rules.
We will use the Blue Student from American Express credit cards as an example.
Manage your Purchases The credit limit that comes with your Blue Student from American Express credit card should not be seen as expendable income over and above your normal income.
Do not spend more than you can afford to settle at the end of each billing cycle.
If you do make a large purchase, and would prefer to make down payments on the purchase, charge less items to your credit card until the large purchase is paid in full.
This practice will keep your interest charges to a minimum.
Avoid Paying Higher APRs Remain within your Credit Limit: The purchase APR of the Blue Student from American Express credit card is both fair and reasonable.
However, you could move out of this APR bracket into a 20%+ APR if you breach your credit card limit.
To help you avoid this, Blue Student from American Express credit card offers an online facility through which you are able to manage your card, in addition to notifying you of account activity via your email address.
Cash Advances: Taking cash advances from credit cards are very expensive.
On the Blue Student from American Express credit card the APR on cash advances is 11% higher than a purchase APR, and best avoided.
Pay on time: The Blue Student from American Express credit card 0% introductory APR and the low 12.
24% purchase APR are tied to you being a responsible payer.
If you default, you will automatically start paying a default APR, which could be anything from 20.
24% to 30.
24%.
Build a great Credit Score When you graduate, and you manage to land a great job, you may want to buy a place of your own or perhaps even a new car.
This will involve securing credit.
The greater your credit score, the more advantageous your interest rate.
Building your credit score simply demands of you to display responsible credit card management behavior.
It is really not all that hard: avoid breaching the limit of your Blue Student from American Express credit card, and pay your card on time all the time.
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