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Student and Bad Credit Alternatives
If you are a student, you may want to consider a prepaid student or teen credit card. These cards carry the Visa or MasterCard logo and enable you to shop at millions of stores. No credit application is required for a prepaid card and no finance charges are charged because the money is paid (deposited) up front similar to a bank account. Funds can be added to the card whenever you want. You can use these cards at ATM machines as well.
It used to be that the only choice you had if you had bad credit was to carry a credit card with an outrageous interest rate. Now, prepaid and secure credit cards are good options for people with bad credit. These MasterCard and Visa cards give you all the advantages of a credit card without the debt worries or outrageous interest rates.
Grace Period
A credit card's grace period is the time you have to pay the balance, before you are charged interest. Grace periods usually range from 10 to 15 days.
The truth is, while credit cards can seem like a lifesaver when things get rough, they can quickly become the added weight that pulls you under. Be really careful when deciding to take on credit card debt.
Safety Tips for Your Credit Cards
• Report lost or stolen cards immediately.
• Sign the signature panel on the back of the card as soon as you receive it.
• Never let your cards out of your possession or control.
• Did you know that a large number of credit card thefts are from car glove compartments? Never leave yours there.
Plastic Money 33