Student Credit Cards - Get Your Credit Record Off to a Good Start
If you're a first year college student, you are likely just getting into the groove of your new schedule, classes and life on campus. You also have likely been inundated with all sorts of offers claiming to be able to give you the best student credit cards.
The credit card companies know this is the first time you have been out on your own, and are hoping you will sign up for their cards just because they offer you a free iPod or other fun gadget for signing on with them.
Before you sign up for anything, make sure you know what you are getting. While you may think a free iPod is great, if you could have a better card, or do something that will reflect more favorably on your credit record, you will come out better by passing on the iPod for now.
Here are tips to starting your credit the right way.
Shop Around
There are all kinds of credit cards companies and options out there. Don't think you need to sign up for the first one that comes up to you. Instead, shop around, take information on a number of cards, and choose the one that has the best perks for you. Look for low interest, low to no annual fees and those that may offer perks you can use like cash back or rewards points that you can use for airfare or gift certificates.
Buy What You Need and Want
Once you get a credit card, you need to only spend on what you would have spent on if you had cash. A credit card is not an open opportunity to buy everything. Remember, you still have to pay off what ever you buy for. Purchase carefully.
Think Before You Buy
If you are considering buying something you don't have to have, you may want to think about it for a little while. There is no rush to purchase anything and you should really debate whether it is something you can afford to pay off quickly. A good deal now may not be one if you charge it for too long. If you leave a balance on your credit card, you will be assessed interest for your purchases and may end up paying more for it than you would have had you just waited to make the buy.
Make Your Payments
If you remember nothing else, remember to always make your credit card payments on time. There is nothing that will get you into more trouble with the credit card companies than missing a payment. Not only will this lead to a ding on your credit report, but also they will then hike your interest rate meaning you will be paying a lot more every month in interest on the purchases you make.
Related Tags: credit cards, student credit cards, best credit cards, good credit, best student credit cards, college credit cards, getting good credit
Stephen Sikes is the owner of the credit card comparison site
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