If I get a student credit card, will the school know about it?
I’m getting a student credit card and I notice it asks for my university. Like..will they call the school and tell them I got a student credit card? And let’s say I just use the credit card to buy a few dollars worth of merchandise and pay it off in full to establish my credit, i’ll just have to pay that amount right with interest? Just curious. Thanks =)
If you pay your credit card in full, you dont pay any interest. There may be annual fees, but no interest.
It’s doubtfull they would ever call your school. Who would they call to report it first off, secondly how many students do you think get a student credit card. Would yuo want to work in the office that would make all those calls? Doesn’t make sense right? How much time would it take, compared to how much money could the companies make doing it? If there is not a way for them to make money, they won’t engage in t eh activity.
You could get away with doing it that way maybe. For the amount you would pay back, be cautious. THis is the plan of soooooooo many people, and it usually works out the bad way. It is just too easy to use, and too hard to pay back. You might try to talk with your bank instead. Put say $200 in the bank, and use it as collateral for a $200 loan. Now while you will have access to the additional $200 you borrowed the best thing you could do is to leave it alone in the account. The money will earn interest, and you will pay off a loan establishing credit. If at the end you want to do it again, at the end you will have $800 to work with.
You can train yourself this way for saving and learn spending control without having to worry about the repayment of your credit card.
They are not likely to check with the school and the information is for demographic purposes for future marketing maneouvers. Just be adamant about paying off any balances in full. Good on you for trying to establish credit.
No they will not call the school and tell any of your business. They probably would just like to know to see where there advertising has reached or they may even offer different card designs for each college where it would be important to know what school you go to. Also, if you pay your balance off in full every month there will not be any interest charges at all. Another thing is to see if you can get a card without an annual fee.
the school never knows. these cards are only designed for students but have nothing to do with school.
And let’s say I just use the credit card to buy a few dollars worth of merchandise and pay it off in full to establish my credit, i’ll just have to pay that amount right with interest? Just curious. Thanks =),
thats correct
for a list of student credit cards with reviews and comparison features check out the direct link below.
direct link,
No, the reason credit card companies ask for your school is just to make sure you’re going to the school. They usually just ask for transcripts or some sort of proof.
It will never be any of the school’s business and if they do know, who cares?
Remember, if you do pay your card off in full, you don’t have to pay any interest, that’s why most recommend it.
They won’t know about it. They aren’t involved in your finances. One reccommendation for you is to use applyfastbankcards they pay you to apply for credit cards online. They payout $40 for the Discover Student Cards.
They just want to verify that you are a student. If you pay your balance in full each month you won’t pay interest. Your credit score will grow faster if you use no more than forty percent of your credit limit. This is because if you don’t max your credit cards out, it looks like you are financially sound and a good credit risk.