Wise Spending Tips for Students with Credit Cards

Credit cards for college students are wonderful tools for building early credit history. As a student, this is your only chance to get approved for an unsecured credit card without credit history. However, building solid credit will largely depend on how you utilize your college credit card.

If you can keep up with your repayment obligations, then you should be able to maintain good credit standing. On the other hand, if you are often late in making payments or if you usually exceed your credit limit, you may end up with bad credit.

If you can keep up with your repayment obligations, then you should be able to maintain good credit standing. On the other hand, if you are often late in making payments or if you usually exceed your credit limit, you may end up with bad credit.

Listed below are smart tips on how you can spend with your student credit cards while avoiding bad debt.

Pay your monthly bills in full. Paying off your monthly balance in full is the best way to be free from the interest rates and additional charges. Avoid charging expenses to your card that will be difficult for you to back at once.

Monitor your own spending. Almost all credit cards today provide an online account access features. That means you can check your account at anytime, anywhere there is internet access. Use this important feature to keep track of your charges and payments as well.

If you notice unfamiliar charges or unauthorized transactions in your account, do not hesitate to dispute them to your credit card issuer. Before signing up for a student credit card, understand your issuer’s terms regarding disputes.

Report a stolen or misplaced card immediately. If your student credit card has been misplaced or stolen, call your issuer right away to prevent unauthorized charges.

Always plan your purchases. It is easy to shop around with a credit card. However, it is wise to plan your purchases ahead of time before going to the mall or supermarket. If you see an item on sale, it can be tempting to use your card to buy but if it was not in your list, fight the temptation to make the purchase.

Do not get more than one student credit card. Having many credit cards in your wallet can be risky because you may be tempted to buy more than what you need. One student credit card is enough for you to build your credit history. Reduce the risk of overspending by sticking to just one card.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit card articles that would help build student credit.

Copyright 2009

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2 comments for “Wise Spending Tips for Students with Credit Cards

  1. Kate
    December 28, 2009 at 12:00 am

    I make sure before applying for a credit card, that I can manage to handle it properly.

  2. bbc4ss
    December 28, 2009 at 12:04 am

    @ Kate

    I can say, you are wise & practical. 🙂 Thanks for sharing your opinion.

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