Student Credit Cards – First Time to Use a Credit Card?

Student Credit Cards – First Time to Use a Credit Card?

Despite the instability of the economy these days, the use of credit cards is considerably increasing in numbers. Most people nevertheless has the confidence of swiping that little piece of plastic for buy and manage their accounts properly. No surprise that many students these days don’t have a hard time applying for a student credit card. A lot of students have been bragging about the day they got heir hands to their first ever student credit card. But sometimes, their will be instances where it will get hard to apply for one. already those who are credit-worthy were denied to have one. A student would be lucky enough to get an approval and build a good credit rating.

Several years ago, student who wants to have a card were required to co-sign with their parents or guardians to have a chance in getting a student card. The parents or guardians will be the ones responsible and liable for any misuse of the card. Students are given a chance to build a good rating especially with parents who have high scores. In fact, there is a new FICO that will take effect soon this year that would make credit processing already faster but in a different manner.

Many credit companies these days have recognized the fact that students should also be given a chance to get keep up of their own student credit card. They offer such assistance to those who are highly qualified providing reasonable rates, lower limits and fair requirements that could easily be attained by a student. You will be able to know more about it if you do research for it in the internet.

Furthermore, if there was a course about the proper use of student cards, many students would have to enroll to such course. It is a shared thought that students have higher inclination in using a card irresponsibly which could cause mismanagement of finances. That is why students should be guided to such matter to take them away from such shared thought. Every student should keep in mind that it is never too cool in spending money they don’t have.

Below are a few tips on how to use your student credit card responsibly.

1. Look at your card as cash. Never swipe it when it doesn’t have the money to pay for it.
2. Don’t ever miss a single payment. Paying in complete each month will avoid late fees and interests.
3. Keep at the minimum 50% of the limit open. Don’t ever go beyond the limit.
4. Finally, choose a card that has no annual fee.

So if you think you’re responsible enough to manager your own student credit card then apply for one today.

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