5 Best Card Usage Tips for College Students
Being in college and having a credit doesn’t mean that you have to sacrifice having fun and the
benefits you get with the card. There are ways for you to balance things out and get the best out
of the two. You need your card for reasons that when you’re in college, you might be very far
away from your parents and financial support may not be easily attained when needed.
Some don’t actually want to use their card because they think that they’ll just be giving
themselves unwanted credit debt. But the truth is, you have to use your card to prevent it
from closing or to earn credit score points. You have to use it wisely though and stay
20% below your limit.
There are a lot of working students in college, and having a job gives you another
chance to boost your credit report and make your account look good. This will also help
you earn money to pay for your credit balances so that you won’t miss out on payments.
You’ll learn how to manage your money and keep yourself within a budget.
A budget list will definitely help you manage your card and your spending. List down
your expenses every month so that you’ll know if you’re near your limit and you’ll be able
to control it. Try to use some cash every now and then too, especially if you can afford it.
Don’t swipe all the time.
Being in college isn’t an excuse not to monitor your credit report. With all the projects,
home works etc, it is understandable that you are busy but it really won’t take much of
your time. If, however neglected, it will take more time for you to repair it. Keep track of
your record and you won’t be worrying much about it in the future.
Pay all of your bills in time. This is one thing you really shouldn’t forget because it can
really do damage to you and your credit score. If you are just co-signed by your parents,
it is still your duty to remind them about your bills. Missing out on your bills will leave
your record marked for 7 years. Having a credit card requires your being responsible
because everything will show on your credit report.
If you do all these, the big pay-offs will eventually happen in the future. Still, the benefits of
doing it at an early point will surely help you out with your credit. And I’ve yourself a break now
and then, you’ll deserve it after all the hard work you’re going to do for your credit.