We are in the middle of September and a large group of students from public and private universities are still enjoying the benefits of the holiday dolce far niente, while the other one is passing exams in the retake session, which has always been called the “September campaign” among the student brothers. Meanwhile, the beginning of the new academic year is getting closer.
The student, as is known, is exposed to a lot of expenses related not only to studying in the strict sense (renting a dormitory, dormitory, meals, textbooks, etc.) but, which is generally known, also has many other expenses. What He knows himself best.
So how do you organize the necessary financial resources?
In addition to various forms of financing the needs, such as scholarships, gainful work, etc., the student has the option of obtaining a credit card designed for him in some banks. And even then, if he is not working and thus has no stable income. Of all the banks operating in our country, six of them offer students, as a privileged relative to other groups – credit cards. It is worth pointing out that there were nine such banks a year ago. It was easy to see that a student credit card usually has a low credit limit; generally with a limit not exceeding $ 1500. In order to gain access to plastic money, the student, apart from his / her ID, should present in the bank one of the documents confirming the fact of learning, which may be, e.g. student ID, index or appropriate certificate issued by the university. Another condition may be that he has an account in a given bank, which in a sense is a security and a source of information about his financial situation.
For example, mBank does not specify the period of account holding by the student applying for a credit card. Another situation occurs at Molly bank, where the applicant must have a minimum account for six months, and this account must be topped up with $ 500 every month. Let’s go to the largest Polish retail bank, Power Save Bank. Here, in order to receive the card, the student should set up an account at least a quarter earlier from the moment he applies for it. On the other hand, the amount of regular monthly receipts cannot be lower than $ 400. Crosswise Bank is another bank that requires regular income from students. It is true that this bank does not require setting up an account, but you should declare regular revenues of $ 250 per month.
Importantly, none of the banks we have visited that require regular income from students asks for their source. Thus, the source of obtaining profits can be a scholarship, work or finally using the support of e.g. parents. The form of studying is not an obstacle when applying for a credit card. Therefore, both full-time and extramural studies can come into play. Banks also do not cause problems for students studying in private universities. Completing the first year of education is a necessary requirement in most of the above institutions. We will not experience such a necessity only in two banks: Crosswise Bank (willing to issue a credit card after completing the first semester) and Power Save Bank, which did not specify such a date at all. The next examples show that it is worth studying well. This is the case, for example, at mBank and Molly bank. The student who goes there must bring a certificate of academic performance in previous semesters and this will be the basis for calculating the student’s creditworthiness (of course, the higher the average, the higher the limit).
Cost of handling student credit cards
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Well, usually the annual cost of handling such a card does not exceed $ 35. It is different only in Molly bank, but there is also a credit limit of up to $ 3,000.
To sum up, studying does not have to be an obstacle to completing the financial needs of young people by using a credit card. Admittedly, banks offering such cards for students have their own requirements, but they take a big risk with this instrument in the hands of, after all, a young person who is not yet familiar with many advantages but also disadvantages of financial vertigo, whose name is credit card.