Everyday Experience with Oxford Bank’s College Rewards VISA Card

College is a time to learn independence and that includes being able to manage ones finances responsibly. One way to gain financial knowledge and maturity is by owning your very own credit card. College students can definitely benefi from having their own credit cards because it can help them whenever they come across a cash crunch. With so many things to pay for such as food, lodging, books, projects and other miscellaneous expenses, it’s only practical to have an extra line of credit rather than having to call dad back home. So what credit card would be perfect for college students today?

About Oxford Bank

Oxford Bank was established in the year 1884 and continues to grow in services as well as in number. Today, they are one of the most accomplished banks not just in their services but also in providing help to the community. For those students who want to get help from them with regards to credit cards, they would definitely have something to offer.

College Rewards VISA Card

Those who want to be members of this card should know what are its perks and features. Even for those who have limited credit history can still apply and get this card. It is very convenient to use with redeemable awards if one will be able to collect 1500 points. This card has no annual fee which is just appropriate for those students who actually have limits with their budget. The APR or annual percentage rate ranges between 11.99% and 20.99%. And when there are enough points, the account holders can choose among the reward options such as travel, gift certificates, cash, and a lot more.

In conclusion, this college rewards VISA card by Oxford Bank is clearly appropriate for students who are starting to live and act on their own especially with regards to the financial aspect of life.


Being Wise with College Credit Cards

College Student with Handful of CashIn the past credit card companies have been able to set up booths around colleges and universities nationwide and offer free giveaways to those who are willing to sign up for a credit card.

This is much like you see at a Major League Baseball game or at the county fair.

“Sign up today and we’ll give you a shirt.” (or some other piece of junk you do not need.)

Now the Credit Card Accountability, Responsibility and Disclosure Act stops such action from credit card companies.

The act means that credit card companies, if marketing on campus, cannot offer free goods.  It also requires consumers ages 18-21 to prove they earn enough to pay the credit card bill, or be force to have a co-signer.

The issue is that students are not paying their credit card balances.  According to Sallie Mae 82% of students did not pay their monthly balances in 2009. This lead to seniors graduating with an average of $4,100 in credit card debt.

So if you are a college student here are some tips for finding the best credit cards.

  • Find Cards with No Fees: You do not need to pay any monthly or annual fees in order to have a credit card. You also shouldn’t have to pay to open the credit card.
  • Be sure they have online access to check your account: Use this access to track your purchases, if any hidden fees pop up and you are charged you will be able to deal with that issue immediately.
  • Do not sign up because of a “Free Gift”: Sign up because of the benefits of the credit card and the benefits of building strong credit.  If you need a new shirt or iPod shuffle just go buy one.
  • Ask about any extra fees there are with the credit card: Sometimes credit companies include extra fees for certain things related to payments, missed payments, grace periods etc.  Be sure to ask about these fees.  They are in the fine print, but they should tell if you ask.

Be wise about picking out the right credit card.  Credit cards can benefit your or hurt you so do your research and make good decisions.

Check out different types of credit cards here.