by Angela Tsai
You are the next target for the banks! You may find an interesting, or perhaps encouraging surprise that your student card has been bestowed a new function—to earn you a credit card! More and more banks have issued student credit cards for college students because of their promising ability as consumers. To win students’ favor, they even try out different tricks to cater to students’ taste: provide free beepers or dolls, offer free annual fees or VIP discounts, and give special names to the cards, such as the X-card or NTU identity card. However, do such promotion strategies really work on today’s college students? Have credit cards indeed gained ground on campus? Well, according to statistics, the number of student credit and this may affect your credit rating in the future. So ifyou are the kind of person who’s obsessed with shopping, make sure that you have financial support at home. Some people are afraid to have bad credit records; on the other hand, some don’t care at all! For them, what matters is how to get things in a fast and economical way. For example, if you want to buy a motorcycle which costs forty thousand dollars and you have no cash on hand, borrowing from the bank directly may cost you more than buying it with a credit card. This is because the interest on borrowing from the bank is higher than the interest of paying a credit card debt. So consider getting a credit card if you also long for something expensive but can’t afford it with cash! In addition, since study abroad has become popular, having a credit card is very important. First, using a credit card abroad instead of cash can reduce the risk of being cheated. Besides, if you have learned a lesson from the recent air crashes, you probably know that buying a flight ticket with a credit card automatically includes accident insurance. However, there are still some precautions you shouldn’t ignore. First, don’t stretch your credit too much. If you have many different credit cards at the same time, another bank might refuse to issue you a new card. Second, be careful about the credit limit that the banks permit. Normally, if you charge too much over the credit limit, the cashier will refuse your card, but clerks will not always do so. To make money they will still accept the transaction. Then, as you can guess, you will be an innocent victim who exceeds the credit limit but doesn’t even realize it. Last but not least, since your payments will be permanently recorded by the bank, you’d better judge the probable results on your credit. Won’t y ou feel regretful if one day the bank denies your application for a home loan because your credit isn’t good enough? Hence, are credit cards credible? The decision is up to you! a
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The Taida Student Journal has been active since 1995 with an ever-changing roster of student journalists at NTU. Click the above link to read about the authors Archives
May 2024
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