Credit cards and College Students: Protecting Your Personal Information

A college student credit card does bring you many conveniences, however, you have to learn how to protect your personal information because there are criminals out there, waiting to steal your credit card information. These very criminals want credit card information so they can run up the charges then leave you paying the bills. Even though some are local, most credit card criminals are in far away lands. Worse than that, they like to hide or go by other names so it’s virtually impossible to track them down.

The most common way for criminals to get credit card information is through phishing, which involves a fake email that appears to be sent from your credit card company. Normally, this fake email states that there was an error with your account, or that it was accessed by unauthorized personnel and needs your attention.

Spotting fake emails isn’t hard to do as long as you know what to look for. The most obvious hint for most, is the fact that they don’t even have a credit card from the company that has sent the email. For others, the link is what gives the fake email away. Anytime you get an email from a credit card that you believe to be fake, you should always hover your mouse over the link, then “right click” the link with the mouse and select “view source”. If the link is indeed fake, the website address that comes up will be something other than that of a credit card company.

The criminals don’t want you to look at the source for their website, as they simply want you to click on the link before you look at anything else. Once you have clicked on the link, you’ll arrive at a website that is usually an exact copy of a credit card website. Fake sites normally include everything that the actual site does, including the logos and banners. Even for the most amateur of credit card criminals, web pages like this are very easy to create.

Those of you who have fell victim to this scam, probably realized what you have done little too late. Once you have entered in your credit card information, you have done exactly what the criminals wanted and put yourself in violation of credit card fraud and identity theft. Once the criminal has your social security number and credit card information, he is more than likely to use that information to go on a shopping spree – stealing your money and running up your account.

If you receive an email such as this, you should always delete it. Even if you just click on the fake website to investigate, you may do more harm than good. Even though you may not enter any information at all, your computer may get infected with viruses or spyware simply because you clicked on the link. To avoid this altogether, you should never click on a link that you believe to be a fake credit card company website.

Especially, when you do online shopping, make sure you only use those online shopping websites with high reputation. Do not enter your personal information and credit card number without confirming your trust on the website.

Always remember that criminals will do anything to get your personal information and your credit card numbers, you should always be very careful to protect your credit card information.

Student Credit Card: How To Avoid Late Fees

For students, the student credit cards are the best way to learn about using credit cards wisely. Student credit cards help the students in taking advantage of the various benefits associated with credit cards in general e.g. convenience, safety, rebates etc., much earlier in their life. Moreover, student credit cards act as training ground for students, most of whom haven’t had any experience with credit cards. The student credit cards help the students in gaining hands-on knowledge about the various aspects of credit cards and their use.

Most credit card suppliers also include a small guide that helps the students in gaining a good understanding of credit cards, upfront. The students learn more and more with every transaction on their student credit card and as they experiment with the various benefits associated with the student credit cards using their student credit cards in various ways.

Another important benefit is in terms of the time that student credit cards save for the students. As we know, time is very valuable for students and by using their student credit card to order things online, they can actually save a lot of time too.

With so many advantages on the plate, the student credit cards are really an essential for every student. However, because using a student credit card is so easy for shopping, the side effects happen, if you use too much while you do not have the money to pay the credit card bill in time.

If you can not make the payment on time, you will ruin your credit score due to missing payments and paying your credit card bills late. The fees can pile up and the interest rates can grow before you know it, and after a while you won’t even be able to pay the minimum amount of payment. If you don’t do something fast, it could be the beginning of the end.

To make sure this don’t happen to you, you should always pay your bill on time, and always avoid missing a payment. Sometimes, it can be hard to make your payments on time, although you should always do everything in your power to ensure that you stay on top of things. Below, you’ll find some tips to help you with your credit card payments.

As stated above, you should always pay your bill on time. If something comes up and you aren’t able to pay, you’ll be penalized. Even though you may think what has come up will justify a late payment, it doesn’t justify the means in the eyes of your credit card company. Inside of your bill, you’ll find detailed instructions regarding payment. You should always follow them as accurately as possible, pay where and when you are supposed to pay and do it on time.

The easiest way to do this, is to always have the payment amount set aside, so that you have it once your credit card bill arrives. Once you have assured yourself that you won’t be penalized or charged any late fees, you should look into paying your full amount than just the minimum balance. By paying the full amount, you’ll also ensure that no fees will be added to your next credit card bill.

Although credit cards can be great for numerous reasons, you should always know your interest rates and have a good general idea of what your bill is going to be before you make a purchase. Many times, those who have credit cards will make purchases, knowing they can’t make the payments, then suffer when they get the bill and aren’t able to pay it.

Anytime you have a credit card, you should always make sure that you have the money to pay the bill. This way, you’ll remain in good standing with your bank and your credit score will continue to increase. If you simply aren’t able to make your payment, you should not use your credit card.

Always save some money, only spend a portion of your savings. Use your Students Credit Cards wisely.

How to Improve Credit Score

By considering a loan consolidation, borrowers not only save or reduce your long term debt but can also help Increase Your Credit Score for the better over time. It is worth noting that an improved credit score is a very important factor when you enter the “real” world and want a new car, apartment, credit card or buy a house.

Here are some tips for you to help you improve credit score.

• If you have more open accounts, you will have lower credit score. Over the student borrower’s life, you may have borrowed up to eight separate loans to pay for your college. Each of these loans has a different payback amount, payment terms and interest rate. The more accounts the student has opened, the lower the over credit score. Therefore, lowering the amount of open credit lines on a credit report is needed, but this can only be made possible through a student loan consolidation in which the older accounts will be combined into a single account.

• The lower the payments you have, the higher credit score you will get. When the credit report evaluation comes, it is usual in the process that the amount of the borrower’s monthly minimum payments is taken into account. So, when you hold a number of loans, every payment is considered part of the borrower’s monthly payment obligation. Those who have considered consolidation have only one payment to make, which is typically lower than the minimum amount of the separate, multiple loans.

• The debt to credit ratio matters. As you may know, the credit bureaus typically find out if you are in debt. They do this by way of evaluating the amount of your available credit you actually use. In case you have a total of $10,000 available on three credit lines and you owe $2,000, your score will then be considered higher than especially if you have maxed out your on credit line with a $2,000 limit. It is worthy to note that if a person has several loans with a maximum used, it will reflect negatively on his or her credit score. Given this fact, consolidating your accounts is very important in order to lessen the number of open accounts being used and improve your credit score.

• Use your cards lightly. Having big balances can hurt your scores, regardless of whether you pay your bills in full each month. What’s typically reported to the credit bureaus, and thus calculated into your scores, are the balances reported on your last statements.

It is recommended that you often can Increase Your Credit Score by limiting your charges to 30% or less of a card’s limit; 10% is even better. If you’re having trouble keeping track, you can set up e-mail alerts with your credit card companies to let you know when you’re approaching a limit you’ve set. If you regularly use more than half your limit on a card, consider using other cards to ease the load or try making a payment before the statement closing date to reduce the balance that’s reported to the bureaus. Just make sure to make a second payment between the closing date and the due date, so you don’t get reported as late.