Student Credit Cards

credit-card The present economic crisis did not affect the use of credit cards which, apparently, has increased. Degree of confidence in this financial service did not decrease and students represent a significant part of credit card consumers. Having a student credit card is something to brag about. Especially because it’s not always easy to get one, even if you are credit-worthy. It takes luck and trust.

Before days, in order to obtain a credit card, a student had to bring the parents or guardians to co-sign, so they would become responsible in case of any card misuse. High scores for parents mean more chances for a student to present credibility. This year a new FICO is being put into practice in order to fasten the credit processing, but differently.

There are credit companies nowadays who agree upon giving students more independence in managing their own credit card. Low limits, reasonable rates and fair requirements are advantages for students to have such benefit. More information can be found on the Internet.

There are many students who need to learn more about using credit cards, as they are more likely to use it irresponsibly, leading to a deficient financial management. This is the reason for which students need guidance into how not spending the money they don’t have.

Here are some points to help you with your student credit card, to use it responsibly:

1. Think of it as cash. Don’t ever use it when you don’t have the equivalent amount of money.

2. Don’t forget to fully pay each month. This way you won’t have to bother about interests or fees.

3. Keep a safe limit of 50% and never overpass the limit.

4. Go for a card without annual fee.

Apply for a student credit card if you feel responsible enough

Photo credit: liewcf on Flickr

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