By Larry Goldberg

 It’s a simple fact – credit cards are a part of students’ lives these days, as common as textbooks and homework.  They are convenient, easy to use, and are accepted practically everywhere, even in a lot of campus cafeterias.  But did you know that students have several options when it comes to getting a credit card?

 One of the best kinds of credit accounts available to students is the prepaid card.  With a prepaid credit card, money is added to the card before any purchases are made, so you start off with a specific balance available for you to spend.  With every purchase, your balance goes down, instead of up like a traditional credit card.  These cards are great for college students because you don’t need established credit to get one, and anyone (parents, grandparents, etc.) can put money on your card.  Prepaid cards are also accepted in the same fashion as regular credit cards, both at stores and online.  While there is usually no interest rate with a prepaid credit card, watch for other monthly fees and costs.

 To learn more about prepaid credit cards and how they can benefit you, click here.

By Larry Goldberg 

Canceling credit cards is not always a wise option.  You may think it will improve your overall credit report score; however, that is not always the case.  Depending on the number of credit cards you have open and available for access, and the amount of debt you have compiled, canceling credit cards could make your financial situation look worse.  Your credit report score is based on a number of things, one of which is the ratio of your available credit to your outstanding debt.  Canceling credit cards with lines of credit open and accessible will reduce your credit available to debt outstanding ratio.

It can actually be good to keep a few lines of credit open and available, especially carrying zero balances on them, to help your available credit to debt ratio look better.  It is suggested that you have no more than seven available lines of credit open at one time.  Carrying more than seven open lines of credit could begin to hurt your overall credit score.

If you happen to have one line of credit that has a negative history attached to it, that’s the one to cancel.

 If you have a credit card, which most of us do, then you’re probably paying your fair share of interest on your debt.  This can really add up, and the worst part is that most of your monthly payment is not even going toward paying down that credit debt – it’s going to your interest!

 Getting a new 0% APR card to do a balance transfer is an excellent way to save money on interest and pay off your debt fast!  With this credit card, any money you put on the monthly payment will go directly to your principal balance.  Think of how quickly you can whittle down that debt!

Most of these credit cards come with this 0% APR for a limited time, so be sure and check how long you’ll have this great rate.  Also, if this special rate applies only to balance transfers, be careful about any purchases you make with the credit card – they’ll be subject to a higher rate.  Get familiar with the details of the card so you won’t be surprised if there are any extra fees when you get your first statement.

To learn more about how you can do a balance transfer and save money with a 0% APR credit card, check out 0 APR on LetsGetCredit.com

By Larry Goldberg 

Do you have several credit cards out there that you owe money on? 

Everyone knows what a hassle it is to have to deal with multiple credit accounts, especially with each one having its own monthly payment and interest rate to add to the confusion.  But, there is a solution out there that can eliminate all these cards with all their numbers – combine them all into one account with a balance transfer card! 

Balance transfer cards are a fantastic way to put all your credit debt in one place, making it much easier for you to manage each month.  The best part is that many of these balance transfer cards come with a great low introductory rate, so you can even save money on your interest for a few months. 

 Anybody can apply for one of these cards, and if your credit score and history is good (or even not so good with some credit card companies), then you can take advantage of this great savings deal.  Just think of all the time and cash you’ll save each month with all your debt on one easy card! 

By Larry Goldberg 

Some credit card companies offer you an introductory zero percent interest rate.  This offer, at first, seems too good to be true!  You know what they say about that, “if it seems too good to be true, it usually is.”  But, wait!  A zero percent interest rate credit card CAN help, for a period of time.  Make sure you read all the details and fine print, and know when the zero percent interest rate expires, and what the interest rate will become after the zero percent interest rate ends; then you can save money by transferring higher interest rate credit card balances to your new zero percent interest account.

One question to ask yourself is, Does this zero percent interest rate apply only to balance transfers or does it apply to general purchases, too?  If it applies only to a balance transfer option, you can save money by transferring your higher interest rate credit card balances, but make sure not to use it for general purchases or you could get caught by an even higher rate of interest.

If you want to learn more about what a zero percent interest rate can do for you, and what to watch out for in the offer details, check out 0% APR Credit Cards at letsgetcredit.com