|By Mattimatt (Mattimatt) on Tuesday, May 20, 2003 - 08:26 pm: Edit|
Please post your opinions about good Banks that college students should have accounts in. The ones with the lower fees and better facilities for students.
I'm searching for one for myself.
|By Mattimatt (Mattimatt) on Monday, May 26, 2003 - 10:31 pm: Edit|
|By Studiousvegetar (Studiousvegetar) on Tuesday, May 27, 2003 - 08:35 pm: Edit|
Go to a local credit union. They usually have free checking and other perks.
|By Quidditch424 (Quidditch424) on Monday, June 02, 2003 - 08:57 pm: Edit|
Wachovia has no-fee checking accounts for college students. At UNC-Chapel Hill (my school) Wachovia bank cards can be linked with your student i.d. as well
|By Uncchlocalmayor (Uncchlocalmayor) on Wednesday, June 04, 2003 - 01:56 pm: Edit|
UNC is my school too! GO TAR HEELS!
|By Mattimatt (Mattimatt) on Wednesday, June 04, 2003 - 04:00 pm: Edit|
What about California banks?
|By Uncchlocalmayor (Uncchlocalmayor) on Thursday, June 05, 2003 - 10:48 am: Edit|
sorry, don't live out there.
|By Emeraldkity4 (Emeraldkity4) on Thursday, June 05, 2003 - 11:07 am: Edit|
when you have orientation at your school I bet reps from local banks will be there trying to woo you with perks and pizza.
You might want to choose the bank that has the bankmachines on campus or is nearby. It also helps if they have a branch in your hometown for parents to deposit emergency funds into.
Credit unions often have lower fees than savings banks
|By Citibank (Citibank) on Monday, June 09, 2003 - 02:42 pm: Edit|
I know a great company that has low interest credit cards but the name slips my mind at the moment. HAHAHA
|By Emeraldkity4 (Emeraldkity4) on Monday, June 09, 2003 - 04:33 pm: Edit|
For heaven sakes don't take out a credit card.
You can get a work study job to pay for expenses and spending money.. If you are worried about building up credit you can lease a computer through your school bookstore, but these banks that target college students by offering free pizza and no interest for 6 months, only encourage students to spend more money.
You don't need a car on most campuses, you don't need fancy new clothes, college students are supposed to be poor. Many kids will graduate with over $15,000 in debt just from their student loans, should students really be using a credit card to add to that debt
|By Easydoesitmom (Easydoesitmom) on Tuesday, June 10, 2003 - 01:27 pm: Edit|
Totle : Many Graduate Deep in Debts
Take a look at this article . Sobering ...........
|By Momof2 (Momof2) on Tuesday, June 10, 2003 - 02:27 pm: Edit|
We are trying a different tactic. When my son turned 17, we got him a basic card with a $500 limit. After a year of responsible use (and turning 18), he was eligible to have the interest rate lowered to something almost reasonable. During the year, he used it to pay for things such as dental appointments and contacts for him and his brother, along with a few nice dinners on school trips. I really felt better sending him to a large metro area with the card than with a wallet stuffed with $20's. He was very diligent all year to keep his receipts and usually e-mailed me the amounts at the first opportunity. (New contacts for two kids can use up that credit limit pretty fast!)Anything that was a "fun" purchase for him was repaid out of the next month's allowance.
At any rate, we are hoping he has set a good standard for himself to follow when away at school next year. We will raise the limit to probably $2000 (to cover airfare and books) and see how it goes from there. We are considering having the statements continue to come to the house until he has settled down into his new routine. We'll see how this works out - my hopes are high...
|By Emeraldkity4 (Emeraldkity4) on Tuesday, June 10, 2003 - 03:36 pm: Edit|
Thats certainly an option, and one we have considered.
I wasn't clear, does he pay for the bills?
How much do you allow him to charge?
Another option is to have the student open an account close to campus and use a debit card. She can have her paychecks deposited right into her account, and since they also have a branch near us, if I want to give her a little extra spending money I just make a deposit, which I do very rarely, we don't have the money and since her room and board and most medical expenses are paid for what else does she need?
We don't give her an allowance, her work study job covers her books and most extras that she needs to have. The clinic on campus is free, and while she needs to go off campus to have prescriptions filled and get her contacts, she has paid for that as well.
She also has a charge account at her school bookstore for which we are billed. The average monthly total is around $7. As well as books they sell household/drug store items and snacks till 2 am.
She always has been very frugal and it is serving her well in college, the bookstore always tells me she has the lowest bill of anyone!
|By Momof2 (Momof2) on Tuesday, June 10, 2003 - 04:05 pm: Edit|
Well, his highest bill ever was up to $420, but that included $399 worth of soft contacts (2 kids) and a nice sportcoat for Easter! It usually runs $30-50 on months there is a balance. Who pays depends on the purchase - obviously we parents still pay for dental and medical related items. For school trips, I usually pay for the meals and he pays for any souvenirs. We have to negotiate about some items, usually books or items relating to his musical pursuits (mouthpieces, mutes, sheet music, etc.) It has been really helpful because he orders these things online and I really wouldn't have a clue!
I imagine we'll keep up with his relatively small allowance for awhile in school, as he will be pursuing a double major and between labs and practice rooms, there will be precious little time for a job. His scholarship is paying for most costs, so this is one thing we can do for him if he is willing to put in the hours required for a double major. Of course, like most childraising decisions, we are always prepared to revise plans!
|By Momof2 (Momof2) on Tuesday, June 10, 2003 - 04:07 pm: Edit|
One other thing: I've heard that many airlines now require the passenger to present the card used to purchase their tickets before boarding. This would certainly present a problem if my card was used!
|By Nerdboy (Nerdboy) on Tuesday, June 10, 2003 - 09:51 pm: Edit|
Yeah, I'm really considering using a debit card and not a credit card. Because with a debit card you can only spend what you have, so you'll never get in debt.
US Bank has mailed me something about their US Bank Visa Buxx Card, which is a debit card for students. Does anybody have any experience with that?
|By 1tcm (1tcm) on Friday, June 13, 2003 - 08:50 am: Edit|
My son got his first Visa Buxx Card at 15 when he got his first job. It is a great first option. You and/or your parents can go to the secure Visa Buxx Web site and transfer any amount (son's is up to 1,000) onto the card. Keep in mind, then the amount is on my card, but son gives me the money for it......anyway then it spends just like cash. Re-loading the card is quick and easy, and can be done 24 hrs. a day. Student and parent also get monthly statements e-mailed to them if they choose so you and they if your a minor can see where the money is going. This was a great basic tool for the boy before he graduated to a full regular Visa card. As a matter of fact, he still carries both.......
|By Nerdboy (Nerdboy) on Friday, June 13, 2003 - 04:15 pm: Edit|
Thank you very much for your thread. Do you need to get the Visa Buxx Card from USBANK or can you simply get it from Visa company itself?
|By Nerdboy (Nerdboy) on Wednesday, June 25, 2003 - 01:19 am: Edit|
haha, I know that my question was really stupid. Anyway, after doing some research, I found out that VISA BUXX is more for just ordinary high school teenagers who don't know what to spend their money on and have to have their parents watch them.
I have gotten myself a VISA debit card from my bank and am happy about it.
|By Jaybert (Jaybert) on Wednesday, June 25, 2003 - 04:20 pm: Edit|
If you can help it, i would not use the VISA debit card unless absolutely necessary. Because it is a debit card more or less, there is NO FRAUD PROTECTION. What this means is if you happen to drop a receipt with your cc# on it, and somebody clones your credit card or just uses it online, you will be SOL.
While if you purchased it on a credit card, you will be elgible for fraud protection. My amex blue cash card has $0 liability fraud. What that basically means is if someone steals my card and fraudulantly uses it, i will not be responsible for any of it.
Of course, being in college and having a credit card has its own risks. Just be sure to manage your money well. I personally pay off my credit card at the end of the month. At the end of the month when the bill comes I just ask them to directly withdraw payment from my checking account.
|By Nerdboy (Nerdboy) on Wednesday, June 25, 2003 - 05:25 pm: Edit|
The VISA debit card I have also has Visa’s Zero Liability Policy, so it is safe.
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