Owning a credit card while in college can be a great advantage. A student credit card can be used in purchasing books and other school materials. During emergencies, a credit card can come in handy when a student doesn’t have cash.
Credit Cards – Remember the Risks
Of course, owning a credit card for college isn’t just about easy and convenient spending. As a college credit card holder, your goal should be to build a solid credit history. By using your credit card the smart way, you can build yourself an impressive credit score.
But what does being a responsible credit card holder mean? Aside from using your card only on important purchases, it is important to be prompt in submitting your payments. You can save a great deal by not paying the interest if you can submit your full payment before your due date ends. This habit also saves you from the risk of incurring bad debt.
Choosing the Right Credit Card for College
With so many student credit cards in the market, making a choice can prove to be difficult. But if you do extensive research, you can surely find the college credit card that’s right for you. Below are tips to help you make the right choice:
Ask your parents. If your parents own credit cards, you can ask them for possible recommendations. Parents can help their kids look for potential college credit cards. They can also share their personal experiences and teach their kids the value of smart credit card usage.
Read online reviews. A credit card review website is a good place to start your search. These sites offer reviews on different credit cards in the market. Here, you can see which credit cards are really designed for students and which ones match your lifestyle.
Check out the APR. You’ll want to go with a card that has a low interest rate. This way, when you need to carry over your balances, you won’t be charged with expensive fees. Nevertheless, aside from the low APR, check out all fees and costs associated with your card.
Read the complete Terms & Conditions. Finally, after taking all factors into consideration, you should check the credit card’s Terms & Conditions. Analyze the credit card Agreement Form before submitting your application. Remember, this is the only sure way that you can compare student credit cards accurately.
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