Canadian Students Can Apply For Student Credit Cards

25 November 2010 - Which Way To Pay

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Canadian Students Can Apply For Student Credit Cards

 

Today, an article entitled ‘The old are getting richer and the young are getting poorer,’ was released and this concept seems all too true. The article explained that the bottom line in this phenomenon is down to government wealth transfers shifting over the last thirty years.

Over this period, so says the article, we have seen enormous tax hikes and sever grant cuts in government loans for young people, in particular, students. 

The article comments,“At the same time, the older generation has enjoyed more generous tax breaks, such as income splitting, along with a truly amazing rise in government benefits from such programs as the Canada Pension Plan, Old Age Security and the Guaranteed Income Supplement.”

Being a student is challenging in a number of ways, not least financially. There are stresses from all angles and what with the recent loan cut backs for young students, Canada’s younger generation are struggling to afford university life especially whilst they cannot hold down full time jobs as well as achieving academic results.

Although, here at Which Way To Pay Canada we do not suggest a student credit card will solve these problems, a student credit card (which has a typically low credit line-usually around $500) can help to give an element of flexibility to students’ finances as well as more independence.

They do however, need to be managed like any other financial product and each card is subject to its own set of terms, fees and interest charges, however for student cards all these things are typically very low. On many student cards there are great rewards options such as discounts and perks.

If you or your children are interested in acquiring a card then have a look at our credit card section,

Have a good day,

Which Way To Pay Canada

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