The best way to completely avoid student credit card debt is to not use a credit card at all, but in today’s fast-paced and tech-savvy world, that is a near-impossible task. Most college students today prefer to use a credit card for many of their purchases in order to avoid carrying cash and to facilitate online purchases. Even though a debit card accomplishes both of those things, it is still tempting for someone who is short on cash—as college students frequently are—to succumb to the allure of being able to buy what they want without waiting until they have the money in the bank.

If your student is looking to apply for a new credit card, it’s important for them to know what to look for. The best student credit cards are not necessarily the ones with the highest limits or lowest interest rates. Here are some tips for helping your student choose a credit card.

Look for a Credit Card with a Low Limit

Students tend to get a false sense of wealth when they leave home, and many make the mistake of purchasing things they want on credit with the intention of paying it back after graduation. What they don’t realize is that credit cards carry very high interest rates, and by the time they graduate, their balance will have skyrocketed. Keeping their credit limit low will help avoid this problem and ensure that they don’t go on a spending spree.

Find a Card without an Annual Fee

The best student credit cards are those that don’t cost anything. Students have enough expenses to worry about; they don’t need a yearly credit card fee added to tuition, books, housing, and food. If you have your eye on a specific card that usually carries a fee, keep an eye out for promotions. Credit card companies will often eliminate this fee for the first several years in order to get applicants. If you do take advantage of an offer like this, make sure that your student cancels the card before the fee becomes active.

The Best Student Credit Cards are Flexible

They should have easy-to-use online account management features and offer several ways to make payments. Students are more likely to remember to make payments on their credit card if they can do so from their smart phone or computer at the touch of a button. Some credit card companies will even send you threshold alerts and a reminder the day before a payment is due. Features like this will really help your student as he learns to manage his money. You may also want to include your name on the account as well so that you get the same alerts sent to your phone or email. That way, you can keep track of your student’s spending habits and help remind him when payments are due. Just remember that if you do put your name on the account, your own credit is at risk if your student makes late payments.

Look for Credit Cards that Offer Cash Back

If your student is going to be using a credit card, he might as well earn back a percentage of everything he spends. 1% cash back is pretty standard, so watch for cards that offer more. Some cards even award up to 5% back on specific categories each quarter. Help your student remember what these are so he can make the most of his credit card usage. If possible, set up a savings account for the cash back and allow it to accumulate while your student is in school. He can use it for emergency expenses or save it for a rainy day.

It can be scary to allow your student to apply for a credit card. However, if you help him choose the right card, he’ll be much more likely to avoid excessive credit card debt while he’s in school. The best student credit cards are those that have low limits, no annual fee, flexible payment options, and the opportunity to earn cash back on purchases. Help your student spend smart by finding a card that fits these qualifications.

When you turn 18, exciting things start happening. You can vote. You get accepted to college. And you can get your very own credit card. The credit card companies are waiting for this day just as much as you are, and they celebrate your birthday by mailing you all kinds of offers. Lots of people have probably warned you to be careful with these offers, saying that the credit card companies are trying to take advantage of you, and you’ll end up in debt for the rest of your life. And this could very well be true.

But don’t throw those offers out just yet. If you want to be fully prepared when you head off to college, you really should bring a credit card with you. As a college student, a credit card is a must, and here’s why.

You’ll Learn to Be Financially Responsible

Having a credit card will give you invaluable experience with money management. College is probably the first time you’ve had real financial independence, and you have to learn what to do with it. A credit card can teach you lessons about spending and budgeting quickly and better than anything else. The key is that you have to want to learn. When you closely pay attention to your bills, including your spending, interest rate, and fees, you’ll be able to evaluate your spending habits and improve upon them better than when you’re just paying cash for everything.

You’ll Build Your Credit

Probably the most important reason to get a credit card as a college student is to build your credit. As long as you’re paying your bills on time and not overspending, you’ll build a good credit history that will help you in the future tremendously. You’ll have a leg up when you graduate and want to get an apartment, a loan, or a car. If you’re worried about damaging your credit, limit your credit card use and charge just a tiny bit every month or as much as you know you’ll be able to pay off. Even if you make a mistake, a small blip in your credit history is better than no history at all.

You’ll Have a Safety Net in Case of an Emergency

Even if you never use your credit card, you should always keep it with you in your wallet, purse, or backpack. College life is unpredictable. You never know when you’ll find yourself in a bad position and in dire need of cash. This doesn’t mean when the party runs out of beer, but genuine emergencies, such as being stranded somewhere without a ride home. A credit card could be a lifeline at some point.

You Can Have More Fun

This is the reason most people think you shouldn’t have a credit card in college. But it wouldn’t be college without the occasional indulgent, spontaneous spending. As long as you can keep your spending in check, or be honest with yourself if you can’t, a credit card can be a lot of fun.

Glenn Harvey is a finance major at the University of Texas who loves to write for blogs in his spare time. He is obsessive about his grammar and never submits a single assignment without first running it through a grammar checker. He can’t always remember the little, tricky grammar rules so he uses a checker to make sure it is perfect.

Everyone is trying to get out of debt, even while they are sinking further into debt. There are many companies out there offering to help you consolidate, manage, or negotiate your debt. However, there are steps that you can take at home to slash credit card debt without signing up for any outside services.

1. Stop Charging to Your Credit Cards

This seems simple enough, but it can be a challenge. Whatever you do, do not allow yourself the luxury of charging anything. Freeze the cards in a block of ice or cut them in a million pieces if you have to, but stop charging. Charge cards are for emergencies and big purchases, not for fast-food visits and groceries.

2. Stop Looking at the Rebates

Those rebates offered on some cards can tempt you into charging. You charge a little, telling yourself that you’ll pay it off when the bill comes. But somehow that never happens. Rather than looking at the money you can make by charging items on a card, stop and consider how much more you would have in pocket if you didn’t have to pay on that debt at all.

3. Do look at Credit Card Offers

The best way to slash debt is to get a low rate credit card. Lowering the interest rate on any card allows you to pay more towards the principal, paying the card off faster. If you receive a credit card that promises a lower rate, consider doing a balance transfer. Look at the transfer fee involved compared to the interest savings before making the actual switch.

Now, there are some caveats to using balance transfer credit cards. The first one is that the card you just emptied must stay empty. Call the company and have it shut down if you need to, but don’t charge anything else on it. Also, the high payment you are already accustomed to paying should be continued. This will help you make the most of the lower interest rate.

4. Call Your Credit Card Company

Credit card companies want your business, especially if you’re a solid customer. Consider your credit rating and person payment history with this company. If you always pay on time and pay more than the minimum due then you may qualify for a lower interest rate. Call them to ask if they will lower your rate. If they tell you no, ask what you can do to get it lowered. If they tell you the rate is stuck then put this card at the top of your balance transfer list the next time an offer arrives in the mail.

5. Use the Snowball Method

Review all your cards by making a chart showing the balance and interest rate of each card. If they are all about the same interest rate then choose the one with the lowest balance and focus on that card. Make minimum payments on the others while putting every extra dollar you can spare on that one card.

As soon as it is paid off, roll the entire payment you were making into the next lowest card. Continue doing so until all cards are paid in full and then enjoy that extra money every month for yourself. If you have one card that features a much higher interest rate than the others, then send the extra payments to that card.

Regardless of the method you use or the steps you take to slash credit card debt, it is vital that you stop charging. Even if you are making minimum payments, the cards will eventually be paid off if you simply quit putting new purchases on them. It’s also vital that you pay on time, every time, to avoid late fees and other charges.

Article by Angela from SecuredCreditCards4U.com a comparison website for secured credit cards to rebuild credit and other cards designed to avoid debt, such as prepaid cards.

The demand for online retail has continued to increase in spite of the ongoing credit crunch. People are more willing than ever to make transactions using their credit cards online. Not only does shopping online provide convenience, but also a wider variety of products to choose from. There are great deals and discounts available as well. Yet, there is a downside to online shopping as well. There is the risk of online fraud and the possibility that your personal information may be compromised. Because of this, you have to be careful when buying things over the Internet. Here are four ways to protect yourself when shopping online.

Keep Your Computer Secure

Going shopping online without enabling your is risky, as is using a computer without updated antivirus software. Hackers can easily infiltrate your computer and install malware. They can use this to extract the personal information you enter while shopping online. Once they have your credit card information, they can use it to make purchases. Never shop online if your firewall is off or your antivirus is outdated.

Use a Credit Card, Not a Debit Card

Not all banks provide security guarantees if you are using a debit card. The risk of fraud against you is higher if you are using a debit card instead of a credit card. Before using a debit card to make purchases online, check with your bank to find out whether they have any protection against fraud. Even if they do, it could take six to eight weeks to have your funds returned to your account. In the meantime, how will you pay your bills?

Be Careful How Much Information You Provide

You usually do not need to provide all the personal information a website asks for. There are things you can hold back without affecting your transaction in any way. Before entering your information, read the privacy policy of the retailer. The privacy policy describes how the business uses your personal information and whether they keep it safeguarded. If you have the slightest doubts about a particular vendor, it is better to move on to another website.

Check Your Credit Card Statements

Always check your credit card statements carefully. If you spot any discrepancies or irregularities, report them promptly. It could be that someone else is using your credit card information to make purchases. Call the bank at once if you notice any charges that you don’t remember authorizing.

You can protect yourself when shopping online by following the guidelines above. If you are careful, shopping online can be just as safe as a trip to Walmart.

Allan is a frugal shopper who loves shopping online. When he is not blogging, Allan works in an electronics store.

Credit cards play an important role in most people’s lives. They make a big difference in how you handle your finances, whether for better or worse. Choosing the right credit card is important if you want your credit card to positively affect your credit and finances.

The first thing you should do is sort through the offers you get in the mail. Use these offers as a starting point to get an idea of what type of card you might be eligible for. Most credit card companies send their offers to people who meet certain criteria, so there is a good chance that you qualify for many of the offers you are receiving. Once you have reviewed the offers you’ve gotten in the mail, start looking around online and see if you can find a better deal.

You’ll find a lot more credit card offers online than you’ll ever get in the mail. There are hundreds of different cards available, and many of them have introductory offers or balance transfer offers that are advertised online. You can apply for most of these cards right through the company’s website, and there are even websites that allow you to compare various credit cards to find the ones with the best terms, rates, and fees.

The interest rate is one of the most important factors to consider when trying to choose the right credit card. Don’t just look at the regular interest rate, though. Make sure you are aware of the rates being charged for balance transfers and cash advances as well. It is great if you can get a card with a low introductory rate, but keep in mind that the regular interest rate is what you will pay on most of your purchases. It is important to make sure you understand the terms of any special offers. For example, many cards offer 0% interest for a year, but you have to read the fine print to see that if you don’t pay off the card in full within that time period, then you will be charged for the entire year’s interest at once. Credit cards issued by retailers often do this.

Watch out for credit cards with minimum finance charges. You could end up paying much more for your credit than you bargained for with one of these cards. Other fees to consider when determining which card is right for you include cash advance fees, balance transfer fees, late payment fees, and annual fees.

When it comes to choosing the right credit card, you need to think about how you will be using the card. If you will be paying your bill each month, the interest rate is not that important. However, if you intend to carry a balance from month to month, you need to look for a credit card that has a low interest rate. If you expect to need frequent cash advances, you’ll be better off if you can find a card that has low fees and reasonable interest rates for cash advances. There are a lot of things to consider when choosing a credit card, so take your time and evaluate each offer carefully in order to find the card that is right for you.

There are many benefits to using business credit cards for your company. When establishing a new business, entrepreneurs quickly learn the advantages of using a business credit card for their business related expenses. Using a business credit card can allow the business owner to establish a credit history for the business as well as develop a professional image with local lenders and other businesses.

Using Business Credit Cards to Track Expenses

Business credit cards can be beneficial in helping the business track its expenses. Most cards allow you to have multiple card users so you can provide your employees who make purchases a card to be used for business-related expenses. The itemized statements and online access that a business credit card offer can allow you to track spending and therefore see exactly who is spending what so you can understand your business expenses as you plan your budget.

If you are starting your own home-based business, a business credit card can be even more advantageous. With home-based businesses, it can be difficult to separate your business expenses from your personal expenses. If you use a business credit card for all your business related expenses and purchases, you will have an easier time keeping your expenses separate. In addition to allowing you to keep finances separate, using a business credit card for your purchases allows you to build your credit in your company’s name as well.

Your Business Credit Card’s Terms

Understanding your business credit card’s terms and conditions can be imperative to not getting yourself in trouble or being charged additional fees for missing a due date or going over your limit. Many entrepreneurs understand that having cash is very important to the success of a business. Therefore, knowing the grace period on your credit card account, which is usually 21 days, can be helpful in keeping cash on hand for as long as possible. At times this can be very important.

Using Your Business Credit Card to Earn Rewards

It can also be beneficial to have a business credit card that gives cash back or rewards points. If you have a card that gives cash back you can use the cash back that you receive to pay for other business related expenses or pay toward your credit card bill each month. If you use a card that earns rewards points, you can use the rewards points you earn to purchase other business related supplies such as office supplies or pay for business travel such as airline tickets or hotel costs. Any way that you can save money as a business owner is worthwhile so using a rewards card to the advantage of your business can save you money in the long run.

Using Prepaid Business Credit Cards

Business owners often offer sales incentives for meeting quotas or give employee bonuses for performance. In addition, almost all employers give holiday gifts to their employees. Therefore one good way to take care of these business needs is to utilize prepaid credit cards. You can give prepaid credit card as gifts or for bonuses, which your employees will appreciate. In addition, having prepaid credit cards for your employees to use to pay for business expenses and purchases can also give you an excellent way to keep track of spending and not run the risk of overspending by employees. You can also save time by not having to stop and approve all business related purchases. You can simply load a prepaid credit card with the limit you wish to set for your employee and then give them the ability to spend it on the purchases they need to make without having to worry about blowing the budget.

It is important to remember that when you are opening a business you have no credit history for the business. Everything you do in the name of your new business will be a step toward establishing a credit history and developing your business’s credit score. Using business credit cards can be an excellent way to establish credit, build relationships, and track spending. Just make sure that you are using your credit card responsibly to prevent any financial issues from developing for your business.

It used to be that when you applied for a credit card, you were asked to buy credit insurance as well. You don’t hear about credit insurance as much today. Instead, the card companies are offering credit card protection plans. If you look one of these plans closely, however, you’ll see that it’s pretty much the same thing as credit insurance. These plans offer coverage to help consumers in the event that they are unable to make their credit card payments, while providing another method that credit card companies can use to profit from their cardholders.

What Do Credit Card Protection Plans Cover?

Before you buy a credit card protection plan, make sure you know what it covers. The terms for these policies vary from one card to another. Most policies cover your payments if you are disabled as the result of an injury or lose your job. The premium for the plan is usually a percentage of your balance each month. If you have no balance, you usually do not pay a fee for that month.

When you attempt to make a claim, you may discover that the plan doesn’t cover you as well as you thought it would. For example, you might be disqualified because you were unemployed when you signed up for the plan or because you left your job voluntarily. You might even discover that there is waiting period after you become unemployed, during which time you are ineligible to receive any benefits. You might also be required to apply for unemployment benefits before you will be eligible for coverage under the credit card protection plan.

What Are the Fees?

The fees for these plans are usually around 50 cents for every $100 that you owe, but they can sometimes be as high as $1.00 per $100. These charges are added on to your credit card balance as if they were ordinary purchases, so you also have to pay interest on them. It is also possible for them to push you over your limit and incur over-the-limit fees.

Credit Card Protection Plans Not Regulated

Most states do not regulate credit card protection plans, so you will not receive much help if you have trouble when it comes time to make a claim. Many people who have paid for these plans report having issues with not being able to use the benefits that they have paid for, so be cautious about purchasing credit card protection plans for your credit cards. You may discover that you are better off buying regular disability insurance or some other type of insurance instead of a credit card plan.

Using business credit cards that offer rewards can help small business owners get extras that will help them in their businesses. Business credit card rewards programs help take the bite out of the extra costs incurred when businesses use credit cards to pay for purchases instead of paying cash.

The Benefits of Business Credit Card Rewards

Many credit cards offer reward programs that give the cardholder points for making purchases. You might earn just one point for every dollar you spend, or it might be more. These points can be exchanged for cash or merchandise once you accumulate enough points. Other cards offer a cash back percentage, usually one to two percent. This amount is credited back to your account monthly or annually. Using a credit card that offers a cash back reward is almost like buying everything on sale.

Other benefits are a little less tangible. For example, you may be able to get a custom credit card that has your business name and logo on it. The great thing about this is that every time you hand over your credit card to make a purchase, the cashier is exposed to your business information. You never know when that exposure might lead to a sale.

Even if you aren’t excited about the rewards your business credit card offers, you can still benefit from them by passing them along to your best clients as gifts. Your customers will be happy you thought of them, and will become more loyal to your business as a result.

Another benefit of using a business credit card is that you can often get cards for employees as well. Many companies allow you to give employees their own credit cards on your account and set a spending limit for each card. This allows you to control the amount of access each person has to spend money on your account, so the receptionist who occasionally runs to the store for donuts for the break room can have a smaller spending limit than the sales representative who travels all over the country.

Many business credit cards also offer travel benefits such as accident insurance and lost baggage coverage. In addition, some business credit card rewards programs offer concierge service. This service is provided by calling a number on the back of your card. You will basically have a personal assistant at your beck and call. The concierge can make reservations, order flowers on your behalf, or even give you directions while you drive.

The holiday season brings the joy of giving and receiving but it also brings to most people additional debt. Many people use their credit cards to purchase gifts for loved ones. They want the holidays to be fun and full of gifts. But using a credit card to pay for things you can’t afford will only bring delayed guilt once the joy of the holidays has passed and the credit card bills arrive.

If you are already in debt, using a credit card to fund your gift purchases can be a really bad idea. Using a credit card can make it easy to overspend and rack up the after-holiday debt. However, if you shop wisely when making purchases, you can find some benefits to using your credit card during your holiday shopping. Here are some of the best credit card practices for the holiday season.

Make a Budget and Stick to It

First you will want to establish a holiday budget and stick to it. The primary reason people overspend on credit cards is that it’s too easy to use them and they don’t have a clear idea of what they can afford to spend. Think about each purchase you need to make, determine a budget, and then stick to it regardless of your credit card limit.

Use Your Rewards for Gifts

One way that your credit card can benefit you when doing your holiday shopping is by using your cash back rewards earned all year long or cashing in your rewards points for gifts for friends and family. If you have a credit card that is part of a rewards program, you should check with the company during the holiday to see if there are special promotions going on. Some cards offer greater rewards points or higher cash back rewards during November and December. This means that you can buy some of your gifts early, accumulate more cash back or points and then use the cash back or points to purchase additional presents on your list.

Be Wary of Store Credit Card Offers

Another thing to remember during your holiday shopping is that you don’t want to fall for offers of in-store credit cards. The offers always sound good, offering deals like 10% to 15% off your total purchase made that day. However, if you do the math, it doesn’t always make sense. For instance, if you spend $100 and you are getting a 10% discount on your purchase, you saved $10. But most store credit cards have extremely high interest rates, usually over 20%. You save 10% but you are charged 20% or more on the purchase. If you don’t pay it off you will spend more in interest fees than you saved on your purchase. So make sure you think through any offers before taking advantage of them. And don’t forget, your credit score is also affected by how much open credit you have, how many new credit cards you have, and how many times inquiries are made to your credit report. So opening this new store credit that may cost you more than it saves can also have a dramatic affect on your credit score.

Observe the Best Credit Card Practices if You Must Use Your Card

Credit cards have their place and their advantages during your holiday shopping if you take heed of the best credit card practices listed above. Most importantly, as with all credit card usage, you need to make sure you think through your use of the card and ensure that you are using the best way to pay for your purchases. Establishing a budget is the key to not overspending on credit cards so make sure you create a budget and stick to it and you will not be hit hard after the holidays with debt.

A business credit card in your company’s name can be a valuable tool for any business owner. A business credit card can open doors to getting loans, making purchases, and building credit without jeopardizing the business owner’s personal credit.

The first thing that any new business owner should do is open a business-only checking account. In the beginning, the business owner’s personal credit score is how creditworthiness is determined. However, eventually a business will develop its own credit history and score and this will take the pressure off the business owner’s personal score to acquire credit for the company. Since it can take some time for a business to establish credit, you need your personal credit to be in order to begin with, and then do everything you can to build a credit history for your business.

Next, a company should get a business credit card with the business name on it. Using this credit card to pay bills, buy business-related products and services, and make purchases can help establish the business’s credit history.

When looking for a business credit card, the owner should research several providers to determine which card is the best for his or her business. Many cards offer differing rates, terms, and even reward programs. As a business owner, you should try to find the card that has the best interest rates, smallest fees, and best rewards that match what is best for your company.

After deciding which business credit card you feel is best for your business, go ahead and apply for the card. Some lenders will ask for financial documents relating to the company as part of the application process. You should check with the bank you have chosen to see if you will qualify for a business credit card with them if you are a new business and have little or no business credit history. Your personal credit history will probably be the biggest determining factor of whether you are extended business credit at this point. If you do not qualify for a business credit card at this time, you will likely need to wait about a year before you reapply. During that time you should try to establish a positive credit history in your business’s name.

If you are extended credit with a business credit card, you need to be responsible with your usage of the card. Business credit cards generally have higher interest rates and fees associated with them compared to personal credit cards and you should try not to carry debt on your card.

It is best to use your business credit card for business related expenses that you can pay off each month. This will help you build credit and increase your business’s credit score. However, it is important to realize that you need to keep a good eye on the usage of your business credit card, especially if you have multiple cards being used by employees. Business credit cards do not have the same protection for unauthorized use that personal credit cards have. Therefore, you can be hit with fees and charges if you have unauthorized activity. Stay on top of your credit card statement and use online tools to ensure you know what is going on with your credit card.

Business credit cards can be a blessing to a business owner. However, the key to it remaining a positive tool in a business owner’s toolkit is responsible use of the credit card. If you stay on top of your usage, ensuring you are only using it for expenses you can pay off, and use it wisely, you will be happy with your choice to use a business credit card.