USING A CREDIT CARD WHILE IN COLLEGE
Your college years can be the best years of your life. However, this
is also a time when you are managing your money on your own for the
first time in your life. It is likely that you will also be using a
credit card for the first time as well.
Managing money is not
easy and the temptation to use credit cards when you shouldn't is
overwhelming. As a result, it is very likely that you will build up
debt as a result of poor credit card use.
You can have that same great
time in college without putting yourself in debt. Below are some
tips and advice on how to keep your credit card debt in control.
Communicate with your parents
Probably the last thing on your mind. However, parents have
great experience with credit cards and can likely pass some valuable
information on to you. Gain from their expertise!
Beware of credit card giveaways
Credit card companies will often offer you free merchandice for
applying for their card. These offers are not worth it! It is likely
that they are just trying to reel you in to use a credit card that
is high in interest rates and fees.
Check out different credit card offers
Never apply for the first card you are offered. Shop around for the
credit card with the best fees, lowest rates and fairest penalties.
Understand the rules of your credit card
Make sure read the fine print of any credit card offer before
accepting the terms. It is common for credit card companies to
include rules in the fine print that can end up costing you a lot of
money when broken.
Set standards for yourself
Prior to using your credit card, determien what you will use your
credit card for and for what purchases you won't, i.e. use for
buying food, not use for buying beer. It is important that you stick
to your rules.
Read your statement
Always review your statement when received. It is possible that
a mistake was made and/or you were billed for something you did not
buy. Make sure your balance is accurate and that you understand 100%
what you are being billed for.
Never just make the minimum payment
Making only the minimum payments will result in you falling into
debt, fast! You will end having to pay high fees in interest. You
don't want to have a lot of debt to worry about upon graduation.
Home
-
APPLY
NOW
-
Credit
Card
Glossary
-
Common
Questions
Educate
Yourself
-
Contact
Us
-
Site
Map
-
Privacy
Policy
Sites
of
Interest:
Credit/Loan
-
Debt/Bankruptcy
-
Investing
Why
You
Should
Check
Your
Credit
Before
Applying
Establishing
or
Rebuilding
Credit
with
a
Credit
Card
Help
Choosing
the
Right
Card
for
Your
Needs
Credit
Card
Guide
for
Students
Copyright © 2004
- Great Credit Card Offers, Inc.
| 
