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Credit Cards for Students Explained
Whether one likes it or not, the fact is that credit cards are slowly and surely becoming indispensable parts of modern lives. The convenience that a credit card provides is making them really invaluable in making purchases and availing of the other benefits they provide. Surely then, students would not like to be much away from the lure of the credit cards. Today student credits are becoming almost as popular as the credit cards meant for adults.
Student credit cards can be used in much the same way as the adult credit cards can, but there are certain restrictions. For student credit cards, a parent or a guardian generally needs to cosign. This is to ensure there is backup in case the student is not able to meet up with the payments. The limits on these cards are also lower than on adult cards. Student credit cards seldom go beyond credit limits of $500 to $1000. In addition, student credit cards have higher rates of interest for two reasons: 1) because students may not be able to pay off their bills and 2) students do not have any credit ratings to show.
However, there are many plus points to student credit cards. One of the most important ones is that students can learn finance management from a very young age. Parents must encourage their children to become wholly responsible for the payments on their credit cards. This ensures that the student would grow up to manage his/her incomes better. Another thing is that the student would be able to build up a credit record from a very young age. Of course this would depend on how efficiently the student manages to make his/her payments on the credit card in time.
The best thing a student can do is to make a budget in the beginning of the month. This should take into account how much the student can afford to spend on the credit card. Making a realistic budget and then sticking to it will make the credit card a very efficient tool in the hands of the student.
It is not necessary to be intimidated of student credit cards and to reject them for that reason. On the contrary, the best thing is to buy the card and then make proper efforts to make the payments. In this way, the student will always have money to get what he/she wants, like a movie or a concert ticket, a new pair of jeans, or even a new cell phone. Treating the card with respect from the student age could be a major leap in learning how to live with financial independence in later life.
Bad credit new business loans: Gear up with new business!
Are you a bad credit borrower and thinking to start and new business? Are you unable to find loans due to your bad credit history? After understanding such problems of bad credit borrowers many loan companies have come up with various attractive offers. Among which bad credit new business loans is worth-naming. These loans provide easy cash to the bad credit holders in setting up their own venture.
You will easily qualify for these loans with any kind of bad credit history, namely:
CCJs IVA Arrears Defaults Missed or late payment Bankruptcy and many more
You can easily spend the borrowed funds in paying for all your business related needs like buying office premises, paying salary to the staff, investing the working capital, buying raw material, machinery, equipments and many more. Additionally, there is no restrain on the usage of the borrowed amount. Thus, you can feel free to use for any of your business related need.
There are two viable options of bad credit new business loans i.e. secured and unsecured. Secured option comes with the definite clause of collateral. Here, you can raise amount in the range of £5000 to £75000 for a longer term of 5 to 25 years. In fact, the amount is a lot based upon the value of collateral placed. Additionally, this form comes with the advantage flexible term and lower interest rates.
Whereas, unsecured bad credit business loans is available without any collateral requirement. This form will give you any amount in the range of £1000 to £25000 for a repayment term of 1 to 10 years. This loan is ideal for those who cant place collateral. Also, it is suitable for those who are not pleased with the idea of keeping their asset as collateral. New business loans are easily made available over the internet. So, you can simply get these loans by making few clicks of your computer mouse. Additionally, with proper research and planning you will be able to strike a better deal for your condition.
Thus, if you are unable to source funds for your new business because of bad credit then you can easily opt for bad credit new business loans.