If you are good with controlling your money and can manage to pay in cash, then you might re-think about applying for a credit card. But on the other hand, having a credit card while in college can help you start history at an early date. It is very useful for emergencies as well.
Best Credit Tips for College Students When you’re in college, having a credit card may really come in handy. Especially if you’re away from home, and you don’t have parents to give you money whenever you need it. But having a credit card takes effort. You have to pay off all your debts every month, missing out on payments isn’t an option. You have to maintain or improve your credit score at the same time and you have to stay within the good credit range. It is best to think about these first before getting one for yourself. If you are good with controlling your money and can manage to pay in cash, then you might re- think about applying for a credit card. But on the other hand, having a credit card while in college can help you start history at an early date. It is very useful for emergencies as well. Make sure you can afford a credit card. Regularly carrying a balance with a high interest rate is just going to make you lose more money. There are deals out there that don’t have annual fees. Just remember to pay your bills regularly as soon as it arrives. If you’re thinking about buying things that you don’t really need and can’t pay cash for is tempting, but it isn’t a good idea either. Think about it, it just means that if you can’t pay for it in cash, you might have problems paying for it when your credit bill arrives as well. Know when to use your card and use it wisely. Be ready to pay for it afterwards. Not all students have jobs. Most do not have a steady income to pay for their bills as soon as it arrives. If you are one of these students, do not accept cards with a high credit limit. The higher your limit is, the more likely for you to exceed what you can actually pay. Nobody wants a bad credit score to start off with. Start with a low limit and go slow, control your usage and from that, try to pay off your debts and find out the amount you can afford. If you are able to pay off your bill every month, it means you are doing it right you are making your card work for you. But even if you’re doing it regularly, you have to be ready to pay for more in the long run. Paying the minimum means that you’ll be paying for more in the future, even if you are not using the card. Take everything in consideration before getting a credit card. Just take note of your actions and be responsible with everything you do.
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