Kinds of Student Credit Card Accounts      
Student credit card grantors generally issue three types of credit cards accounts. The basic terms of these account agreements are: Revolving agreement.Charge agreement.Installment agreement.
 
Your Credit Rights      
You are protected against unfair credit discrimination and are guaranteed equal access to credit privileges based solely on your credit history (or in some cases, that of a spouse or former spouse) and other financial information. Credit cannot be denied based on your age (if you are at least 18 years of age), racial background, sex, marital status, religion, national origin, or the fact that your income is derived from a public assistance program. These rights are protected by the Equal Credit Opportunity Ac
 
Your Cardholder Agreement      
The Truth In Lending Act requires disclosure of interest and fees that can be charged to you by a student credit card issuer. Explanation of how and when charges will be applied to your account can be found in your cardholder agreement and on the back of your monthly statement. Read these documents with care to fully understand how you are being charged and how your interest payments are being calculated. If you have any questions, contact your credit card issuer.
 
Unsatisfactory Purchases      
The Truth In Lending Act provides you with recourse if you are dissatisfied with an item or a service purchased with your student credit card. Certain conditions must be met: The purchase must exceed $50 and have been made in your home state or within 100 miles of your mailing address. You must start by making a good faith attempt to resolve the dispute directly with the merchant in question. If this doesn't work, contact your card issuer in writing. Check your billing statement for full details; but remember that it is always more difficult (and often impossible) to dispute a charge once you have made payment on it.
 
Billing Errors      
The Fair Credit Billing Act protects you in billing disputes with card issuers and certain other creditors. If you think you have found an error, write to the billing dispute address on your statement. You must contact your card issuer within 60 days after they send you the first bill containing the error. Your card issuer is legally obligated to acknowledge your letter within 30 days and must either correct the error or explain it to you in writing within two billing cycles.
 
How many student cards do you need      
Having at least three major credit references is necessary to validate a solid credit history. A recommendation is to have one card for major purchases, one for convenience, one for business and possibly one for emergency use. Keep in mind, though, that too much available credit could hurt your credit worthiness.
 
Review your Credit Report and Make Corrections      
Tell the credit bureaus in writing what information you believe is inaccurate. Include copies (not originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one below. Send your letter by certified mail, return receipt requested, so you can document what the credit bureaus received. Keep copies of your dispute letter and enclosures.
 
Dealing With Accurate Negative Information      
When negative information in your report is accurate, only the passage of time can assure its removal. Accurate negative information generally can stay on your report for seven years
 
Seven-year Reporting Period      
There is a standard method for calculating the seven-year reporting period. Generally, the period runs from the date that the event took place. With regard to any delinquent account placed for collection-internally or by referral to a third-party debt collector, whichever is earlier-charged to profit and loss, or subjected to any similar action, the seven-year period is calculated from the date of the delinquency that occurred immediately before the collection activity, charge to profit and loss, or similar action.
 
Adding Accounts to Your File      
Your credit file may not reflect all your credit accounts. Although most national department store and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to credit bureaus: Some travel, entertainment, gasoline card companies, local retailers, and credit unions are among those creditors that don't.
 
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