How to Stay Away From Bad Credit Card Offers For College Students
Bad credit card offers for college students are out there like the plague. We don’t know why someone has decided to prey on such a vulnerable piece of our population, but the truth is some very shady people out there are making an awful lot of money by sending out hordes of bad credit card offers for college students.
If you want to avoid getting wrapped up in this mess of bad credit card offers for college students, then here are some tips that can help you avoid the pitfall that many of your student colleagues are suffering from.
1. Know How to Identify a Bad Credit Card Offer for College Students
Sometimes these bad credit card offers for college students are very sneaky, and it can be hard to figure out just which ones are safe and which ones are not. Here are some ways to know almost for sure- or at least to stay safe even if you aren’t for sure.
- If it isn’t sponsored by a bank you know, stay away from it. If the bank title on the card offer look legitimate, but is a company you are not familiar with, then it is probably a bad credit card offer for college students.
- If it says you are pre-qualified for any amount, rip it up. Banks of good repute will not pre-qualify a college student for a high amount of credit. That would be unwise. If they make outrageous claims like that, then stay away,
- If the proposed APR is more than you think is right, throw it away. The way these companies will get you with their bad credit card offers for college students is to rack up the money in interest rates.
- If there is not contact information for the bank, get rid of the offer. A legitimate credit card offer for college students will have all kinds of contact information on it. There should be an address, a website, a phone number, and an e-mail address. If it is hard to find this information, or if it doesn’t exist- then you have yourself one of the icky bad credit card offers for college students.
- If there is contact information- check it out. Call the number. Look up the website. Put the address into Google Maps and sees what comes up. If it is a bad credit card offer for college students, then this is a great way for you to call their bluff.
- If there is more than 1 page of small print, stay away from the offer. Those pages of small print and legaleze is there to entrap you into conditions that you will be legally obligated to fulfill if you sign anything. The more small print there, the more traps they are trying to ensnare you in.
2. Pay Off Your Credit Cards As Soon As Possible
Even if you don’t get caught up in the bad credit card offers for college students, there is danger in racking up debt under the good credit card offers. Many students will find themselves paying off those credit cards for almost decades.
The pizza parties just are not worth that. Some debt might be necessary to get you through school- we understand that, but the best way to avoid suffering from the bad credit card offers for college students is to pay off the cards as soon as you possibly can. Is it legal to pay off a credit card with a student loan? You better believe it, and that is one of the methods we suggest.
Student loans have lower interest rates than credit cards, don’t affect your credit as much, and if you go through the federally funded programs, can offer you benefits like payment deferment during financial hard times, and subsidization of interest amounts- not to mention that if you go into the military or other work programs, your student loans can be paid off. Your bad credit card offers for college students can not.
If possible, we say you stop wondering is it legal to pay off a credit card with a student loan, and get rid of the burden of credit card debt.
3. Take it Slow
Going back to college with bad credit can make things feel overwhelming. It is hard to qualify for a loan at a bank, and that can make those bad credit card offers for college students look mighty appealing.
Just remember that going back to college with bad credit is a great decision, but it doesn’t have to be done at full speed. Take the credits you can afford. That way you won’t be tempted by the bad credit card offers for college students, and going back to college with bad credit won’t feel as overwhelming.
Take it slow and really get what you need to out of this experience- and what you need from this experience is definitely not bad grades and a bunch of debt from bad credit card offers for college students.
Basically, all it takes to avoid the troubles that come with the bad credit card offers for college students is to not rush into things, and to check out all the options. This takes more time, but in this case, the time will save you money, not cost it.
Financial problems can ruin everything for you. They can make it hard to be successful in school, work, and personal relationships. Be smart about your finances, and you will never regret the extra time you take to pay down your debt, and avoid getting into it in the first place.
Going back to college with bad credit can make you or break you depending on the decisions you make. Don’t make the wrong decision by getting caught up in bad credit card offers for college students.
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