Do you think it’s a good idea for high school students to have a credit card what about college students adults explain why you feel this way?

Do you think it’s a good idea for high school students to have a credit card what about college students adults explain why you feel this way?

Do you think it’s a good idea for high school students to have a credit card? Yes, I think giving a credit card with very low credit limits would help high school students understand the implications and responsibilities of credit. They would also begin to build their credit file and establish a credit history.

Why doesn’t my Amex show up on my credit report?

Amex usually takes 2 complete billing cycles before they report to the bureaus. You’ll see inquiry now but won’t see the account report for probably another 3-4 weeks. Some people have reported it reporting after the first billing cycle, but typically 2 billing cycles is what is to be expected from new Amex accounts.2016-09-28

Is it good for a teenager to have a credit card?

They can learn about credit scores, paying bills on time, staying out of debt and much more. It can teach your child that credit cards can be a helpful tool if used properly and responsibly. Another good reason for giving your teenage kid a credit card is to help them start a credit history.2019-04-09

Does getting an American Express card hurt your credit?

If your application was declined, we do not report it to the credit bureaus. This will not affect your credit score. However, your request for a Card will show up on your credit bureau reports as a request for credit, also known as an “inquiry.”

Is it a good idea for students to have a credit card?

Getting a student credit card can be one of the best ways to build your credit. For example, unlike student loans, if you manage your credit card right by paying it off in full each month, you won’t ever have to pay any interest. It’s a free way to build your credit.2022-01-13

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What is the richest American Express card?

the Centurion® Card from American Express

Is a student credit card better?

When it comes to choosing between a student vs. secured credit card, student credit cards are often the better choice if you qualify. Many don’t charge an annual fee, and you don’t have to put a deposit down.

Is it hard to get a black American Express card?

How much do you have to make to get Amex’s black card? There aren’t any income requirements per se, but you most likely need to be a high spender on your Amex cards. If you’re in the ballpark of $250,000 to $500,000 in annual spending across all your open Amex cards, you may qualify for the Centurion card.2022-04-20

Do you think it’s a good idea for adults to have a credit card?

A credit card might be the right choice for you, but you have to consider it as a very serious financial decision. Getting a credit card at 18 can help you begin building credit, when used responsibly. However, if you don’t keep up with payments, credit card debt will create a big financial mess.

Is American Express a good card to build credit?

This credit card is a good fit for: Consumers who want to earn rewards while improving their credit score. Those with good or excellent credit may want to try applying for one of the more valuable American Express cards first.

Why should students not have a credit card?

If you’re not able to work while you’re in school, it can be challenging to keep up with a credit card’s monthly payments. The negative impact of a single missed payment can be costly. Not only will it incur an expensive late charge, it can also cause your credit score to drop. Credit cards could add to college debt.

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What is the most prestigious American Express card to have?

The American Express Centurion Card is the most exclusive credit card in the world and commonly known as the “Amex Black Card.” Launched in 1999, American Express has kept it in a shroud of uncertainty, giving it a very high level of status in the minds of consumers.

What builds credit the fastest?

What is the quickest way to build your credit? The fastest way to build a credit score from scratch is to open a credit card, maintain a credit utilization ratio below 10% and pay it off every month. If you already have a credit card, aim for a credit utilization below 10% and never miss a payment.2021-08-18

Does Amex show up on credit report?

Note that Amex will still report your statement balances to the credit bureaus, even if they don’t affect your credit score. This means that other creditors looking at your report (for a mortgage or car loan, for example) will see the balance when deciding whether to approve you.2018-11-20

How many Amex cardholders are there?

As of , the company had 114.4 million cards in force, including 54.7 million cards in force in the United States, each with an average annual spending of $19,972.

How often does Amex report to credit bureaus?

once per month

Why is it important to have a student credit card?

A student credit card works just like any other credit card, although it usually carries a lower credit limit. It provides the convenience of a credit card, making it handy in emergencies, while also helping the student build a credit history and a good credit score.

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Author: howiswhat