3 Things College Students Should Know About Credit Cards

April 25th, 2009

collegedebtWhen kids begin college, it’s almost a rite of passage to end up inundated with credit card offers.  They’ll get in the mail, in the activity halls, slipped under their doors and every time they hit the mall.  We’ve already stressed how important it is to educate college-going kids about proper credit card use but it’s one of those issues you can never point  out enough.

If you are a college student about to get your first taste of credit card use, make sure to keep the following things in mind.

1. A credit card is great because it starts your credit report

Getting your first credit account usually means the start of your credit history, an important step as you prepare for your financial future.  The earlier you can start a credit record, the more you will benefit from it, provided that you take care of your credit spending.

2. Choose student card offers

Students typically get all sorts of credit card offers.  Even if you qualify for most of them, it’s a better idea to go after credit accounts geared specifically for students as they usually carry perks that you’ll find beneficial, such as discounts to restaurants, bookstores and school supplies shops.

3. Save it for emergency expenses

Credit card is not income – that’s one of the lessons many students learn the hard way.  Hopefully, you don’t have to.  Keep your credit card as an emergency, in case your usual fund sources are amiss.  Refrain from using them on avoidable expenses, such as movies and music purchases.  Just because you can swipe, doesn’t mean you should.

noel Posted in Student Credit Cards

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