Student Credit Cards: The 7 Golden Rules
Many college students can't wait to apply for their first student credit cards. The problem is, if a student is too eager, the student credit cards they apply for can quickly go from being a wonderful financial tool to being a huge financial burden.
Here are seven tips every single student needs to know about managing student credit cards.
1. More is NOT Merrier
The person who said you can't have too much of a good thing definitely wasn't referring to student credit cards. The more student credit cards there are in a student's wallet, the more tempted they'll be to go on little spending binges.
A good rule of thumb to follow is to not have more than two student credit cards open at any given time.
2. They Aren't a License to Spend
When some students get their very first student credit cards, they like to think of it as a license to spend. This couldn't be further from the truth. That cute little designer purse can wait until you have a full-time income. Save your student credit cards for emergency purposes only.
3. It's Cash -- Spend Accordingly
When a student gets their very first student credit cards, it is too easy to forget that every time a purchase is made with the card, the student is going to need the cash to back that purchase up.
Sliding a plastic card for a $100 purchase usually doesn't cause as much pause for thought as handing over $100 in cash does.
Every time you use your student credit cards, make sure you understand it IS cash that you're spending.
4. You're Not a Big Shot
When you get a student credit card, it may be hard not to flash that card in front of your friends -- buying a few rounds of beer or a lunch or two. Avoid the temptation.
Flashing your student credit cards will not make you the big man (or woman) on campus. It will just put you into debt you don't need.
5. Pay On Time, Every Time
Every single credit card statement that you pay during your college years is going to affect you into adulthood.
What does this mean?
This means that you HAVE to pay your student credit cards on time each month or you're going to pay for it with bad credit in the future. That can result in not being able to rent an apartment or buy a home. It can even affect your job opportunities.
6. It's Not Nice to Share
Once your friends see that you have student credit cards, they may be tempted to ask you to borrow them or they might want you to let them use it to make a purchase.
Financial arguements can really put a strain on friendships.
Do yourself a favor -- unless you are willing to pay for your friends purchase and take all of the responsibility associated with it, don't let them borrow your student credit cards.
7. Don't Be Afraid To Ask For Help
Now that you're in college, you probably don't want to run to mom and dad for help unless you absolutely have to. Don't get too big for your britches when it comes to student credit cards.
It's a new experience and you're going to need the advice of those more experienced than you at times. Make sure you turn to your parents for advice when you have questions about your student credit cards.
Related Tags: student credit cards
For more tips on getting the best student credit cards, saving money and avoiding getting taken, check out CreditCardTipsEtc.com, a website that specializes in providing credit card tips, advice and resources. Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are