FAQ’s
- What company is this offer through? , I have found that they offer the best overall deals for college students.
- What is the difference between a secured and an unsecured line of credit? A secured credit card requires a cash deposit that becomes your credit limit. It is a good way to build your credit and can lead to an unsecured card in a short amount of time. There are usually fees so be careful. An unsecured credit card does not require a cash deposit. The company offering the card will set your credit limit. In both cases you can have your credit limit increased by making your payments on time.
- What are their rates?
- Do they have an intro offer? Some of their cards do have special intro offers. Look for them and see if they interest you. Be careful though. It may not be worth it if your rate goes way up after the intro offer is done.
- What is the standard APR?
- Can my rate go up? Your rates will usually go up after the initial period which can range from 6 months to a year. If you make your payments on time you can try to negotiate a better rate with the company. Always make your payments on time or early. If you are late they may raise your rate to 25 or even 35%.
- Can I get an increase on my available credit? Yes with a good payment history you can get a credit increase. Sometimes the company will just increase it and send you a letter to let you know. You can also call and request an increase. Making your payments early and more than the minimum will increase your chances of getting an increase.
- What if I am late or miss a payment? Late or missed payments can negatively affect your rate and your credit. If you know your payment may be late or you may not be able to make a payment call the company and see what they can do to help you. If you communicate with the company they will usually work with you. They like to keep good customers so try to always be a good customer.
- What if I lose my card? Call the company immediately and let them know. They can cancel the card and in most cases you will not be responsible for unauthorized charges. They can also issue you a new card.
- Can I add another user? In most cases yes, but be careful. You want to be sure you can trust this other user. Don’t let someone else ruin your credit. Remember, it’s your card and you will be responsible for any charges this user makes.