Main Subject - Finance

Every college student can tell you that they have seen several offers for student credit cards on campus. These credit card offers are everywh

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ere. They come in bags at the student book store, in the student newspaper, and of course, online. But a student credit card is usually hiding

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

some traps for the unsuspecting college student. If you are thinking about college student credit cards, consider these factors before you si

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

gn up.

Pre-Approval

Most college student credit cards lure young people in with the promise that they are pre-approved for the card. This pr

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

-approval process normally involves checking your credit and deciding based on a number of factors that you would be a good candidate for cred

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

it. If you have established good credit, the pre-approval process confirms that you are able and willing to pay back your debt on time and in

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

full.

However, most college students do not have any credit. So the pre-approval process simply involves confirming that you are a student. T

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

is should make you suspicious. What it means is that the company is willing to gamble that you won’t pay back the debt, providing them with ad

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ded interest that could be in the hundreds or thousands of dollars.

Interest Rate

This leads us to the issue of an interest rate. For most s

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

tudent credit cards, the interest rate is enormously high. This is due to the fact that they are taking a gamble on whether or not you can pay

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

them back. However, in order to lure you into signing up, they may offer an interest free period.

This interest free period also comes with s

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ome traps. If you miss a payment or are late once or twice with your minimum payment, you could be subject to the delinquency rate, which is a

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

s high as thirty percent in some cases.

Minimum Payment

Most people will look at a student credit card and think it will be easy to handle b

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ecause of the low minimum payment due each month. But if you only pay this minimum payment each time, you will end up with an enormous amount

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

f interest due. Think about it this way: If you owe one hundred dollars and the minimum payment due is fifteen dollars, you will rack up inter

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

est in the remaining eighty-five dollars. If your interest is twenty percent, that’s seventeen dollars added to your next bill. The interest y

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ou accumulate is more than you are paying. So your bill will actually get higher the longer you pay rather than lower. Always pay more than th

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

minimum payment.

Good Credit

The benefit to college student credit cards is that you can build up some good credit history with a good paym

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ent record over time. So always pay your bill on time and in full if possible. If you can’t pay your student credit card off in full each mont

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

h, try to at least double the minimum payment. Student credit cards can be your learning tool for a future of responsible financial management

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Main Subject - Student Credit Cards -- What You Need to Know Before You Sign Up

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