Keep College Student Credit Cards Under Control
With rights come responsibilities. And this
rule applies to college student credit cards as well. These small
pieces of plastic look innocent enough but come with their share
College days are colored with long hours of
studying and longer hours partying with friends and classmates.
And, if you are not careful, college days will also be marred with
credit card bills that carry the threat of thousands of dollars
of debilitating debt that will stay with you for some time to come!
This bleak picture should by no means prevent college students from
using credit cards; it should only help students to avoid misusing
If you know how to keep the key rules in mind
and keep them in control while planning your purchases, you can
master the art of handling credit cards and be able to use them
effectively and to your best possible advantage.
College Credit Cards: The Painless Plan
- Plan a budget: Firstly, figure out your weekly
and monthly expenses. These are usually food, books, and transportation
expenses. College student credit cards, like traditional cards,
provide monthly billing statements that should help in determining
your overall budget.
- Stick to the budget carefully: Plan to use
your credit card to meet just these key expenses. Remember that
the trouble usually starts when you do not meet your monthly payments.
This problem can be easily avoided if you plan your credit card
expenses well in advance. This means preventing debt from building
up and paying your credit card bills on time.
- Use your credit card only for major expenses:.
College student credit cards should usually not be used for everyday
expenses but reserved for the big buys or emergencies only. Use
them for long-term purchases such as furniture and books.
- Don't splurge: If you don t have money in
your wallet to meet miscellaneous expenses, then don t buy them
at all! Buying beer for your friends, purchasing CDs on the Net
and buying soda can all add up, even if they seem inexpensive
at the time of purchase.
- Don't let your parents help you: Be responsible
and mature enough to control excessive expenses without calling
up Mom and Dad to help bail you out. If you are old enough to
use a credit card, then you should be wise enough to use them
College Student Credit Cards: What is In
It for You?
If you think you can handle it, it is time
to take a closer look at why you should make the effort to learn
how to handle a credit card:
- A credit card can help you make purchases online or over the
- Credit cards are critical during emergencies.
- They can also help you finance your larger expense items.
You can build your credit rating with responsible
use, which will be helpful later while making business investments,
buying your first house, and even when getting your first job.
Get a Head Start
So college student credit cards could be the
perfect way to secure your financial future.
Please do keep in mind that even in the student market, companies
offer differing rates of interest and interest-free periods. So
shop for your credit card wisely. Think of this as great practice
for the future, when you might be juggling more than one card, student
loans, and maybe even a mortgage on your house.
Once you have decided on a specific college credit card, it is important
to understand how it works and the benefits you can reap from it.
Keep a close watch on your bills, and figure out ways of paying
the monthly bills. Watch out for better offers as well, because
you don t want to be stuck paying higher interest rates then you
Manage My Credit -
a website devoted to providing advice on managing your credit and debt