If you are assisting to college, or have finished it a short time ago, you must have already got at least one student credit card.
Student credit cards are the first financial product offered to people with the legal age to take the responsibility of handling with a financial product.
Student credit cards' benefits are that they are easier to obtain than normal credit cards and they are also known for not to have annual fees to be paid.
These and other benefits such as rewards and discounts offered for student credit cards make these financial tools very difficult to reject when you are young.
What students do not usually know is that with their first credit card, they are also giving a first step into making a credit history.
Student credit cards do not require the applicant to have a certain income so, many times, students with a low monthly budget find themselves with a fast cash source that allows them to spend up to a high limit, which is way higher than they are able to pay back.
To Accept Or Not To Accept A Student Credit Card As said before, student credit cards are very easy to get, and they usually do not imply other charges than maintenance and interest over purchases.
There is no reason to decline the offer of a student credit card.
They can be really useful when you are in college.
Even when you will not want to pay tuition or school fees with it, you will be able to use the credit card to afford other academical expenses such as books, and other minor expenses like food or clothing.
They are also a fast cash source in case of an emergency occurs.
You just should take your time to evaluate those credit cards that you were offered with's conditions and decide which product suits best to your needs.
If It Is Helpful To Accept A Credit Card Where Does The Problem Start? After they get their first credit card, and if they seem to be doing good as costumers, most of students are offered with no one, but many other credit cards products, and, due to a lake of information or just because they are not worried about the future, they usually accept at least another one or maybe more of those extra credit products.
The fact of having access to a high amount of money does not mean that a person really owns that money, and there is where the problem starts.
Young people usually feel empowered by the fact of being capable to afford almost anything they want, so they just start shopping with their credit cards and after a certain period of time, they find that they are not able to handle with their credit cards' payments because those bills have already over passed a student's monthly budget.
What young people does not usually seem to care about is that with missing their credit cards' bills due dates they are getting into more trouble than having a huge debt.
Lake of payment may seriously damage a starting credit score.
How Can A Credit Card Become Harmful Since a student does not usually have any credit records before getting a first credit card, the way he does with this financial product will mean everything to his credit score.
If this same student with a debt as his first credit record is thinking about applying for a student loan as a financial aid to afford college expenses, the only one record that financial companies will find on his credit report will be bad.
The same will happen with any other kind of loan this student may want to get in a future.
How To Use Credit Cards To Build A Good Credit Score Or To Start Fixing A Bad One As we have seen before, having a credit card can bring a lot of benefits to a young person.
It may help with some of college's expenses, provide fast money in case of an emergency, and why not, it is a good tool to purchase that thing you really want to have.
They are also safer to carry than money is and give a certain protection against theft.
Using your credit cards on a reasonably way you will be able to afford your college expenses and to get also many benefits and discounts on other products that you may want to buy.
The secret is to keep your expenses within a monthly budget, and do not make a lot of unnecessary purchases.
As an example, it would be OK to use your card to buy a computer if you want and need one, but it will not be reasonable to buy a certain one that is worth almost up to your credit limit if you can find a less expensive one.
The second thing to have in mind is not to miss your bills' due dates.
By paying on time you will get at least three benefits.
You will avoid paying interests and penalty fees.
You will also keep yourself out of debt, and you will certainly be adding good marks to your credit records.
Student credit cards are the first financial product offered to people with the legal age to take the responsibility of handling with a financial product.
Student credit cards' benefits are that they are easier to obtain than normal credit cards and they are also known for not to have annual fees to be paid.
These and other benefits such as rewards and discounts offered for student credit cards make these financial tools very difficult to reject when you are young.
What students do not usually know is that with their first credit card, they are also giving a first step into making a credit history.
Student credit cards do not require the applicant to have a certain income so, many times, students with a low monthly budget find themselves with a fast cash source that allows them to spend up to a high limit, which is way higher than they are able to pay back.
To Accept Or Not To Accept A Student Credit Card As said before, student credit cards are very easy to get, and they usually do not imply other charges than maintenance and interest over purchases.
There is no reason to decline the offer of a student credit card.
They can be really useful when you are in college.
Even when you will not want to pay tuition or school fees with it, you will be able to use the credit card to afford other academical expenses such as books, and other minor expenses like food or clothing.
They are also a fast cash source in case of an emergency occurs.
You just should take your time to evaluate those credit cards that you were offered with's conditions and decide which product suits best to your needs.
If It Is Helpful To Accept A Credit Card Where Does The Problem Start? After they get their first credit card, and if they seem to be doing good as costumers, most of students are offered with no one, but many other credit cards products, and, due to a lake of information or just because they are not worried about the future, they usually accept at least another one or maybe more of those extra credit products.
The fact of having access to a high amount of money does not mean that a person really owns that money, and there is where the problem starts.
Young people usually feel empowered by the fact of being capable to afford almost anything they want, so they just start shopping with their credit cards and after a certain period of time, they find that they are not able to handle with their credit cards' payments because those bills have already over passed a student's monthly budget.
What young people does not usually seem to care about is that with missing their credit cards' bills due dates they are getting into more trouble than having a huge debt.
Lake of payment may seriously damage a starting credit score.
How Can A Credit Card Become Harmful Since a student does not usually have any credit records before getting a first credit card, the way he does with this financial product will mean everything to his credit score.
If this same student with a debt as his first credit record is thinking about applying for a student loan as a financial aid to afford college expenses, the only one record that financial companies will find on his credit report will be bad.
The same will happen with any other kind of loan this student may want to get in a future.
How To Use Credit Cards To Build A Good Credit Score Or To Start Fixing A Bad One As we have seen before, having a credit card can bring a lot of benefits to a young person.
It may help with some of college's expenses, provide fast money in case of an emergency, and why not, it is a good tool to purchase that thing you really want to have.
They are also safer to carry than money is and give a certain protection against theft.
Using your credit cards on a reasonably way you will be able to afford your college expenses and to get also many benefits and discounts on other products that you may want to buy.
The secret is to keep your expenses within a monthly budget, and do not make a lot of unnecessary purchases.
As an example, it would be OK to use your card to buy a computer if you want and need one, but it will not be reasonable to buy a certain one that is worth almost up to your credit limit if you can find a less expensive one.
The second thing to have in mind is not to miss your bills' due dates.
By paying on time you will get at least three benefits.
You will avoid paying interests and penalty fees.
You will also keep yourself out of debt, and you will certainly be adding good marks to your credit records.
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