Simple tips to use student credit cards effectively
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Simple tips to use student credit cards effectively


Updated: December 26, 2012

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Student life is one of the most interesting phases in a persons life. There are many firsts associated to it, including getting the first ever credit card. The minute a student steps into college, there are innumerable credit card lenders waiting in line to woo the young ones and strike a deal with them. Despite the federal government bringing in various rules to clamp down on the issuance of credit cards to students, banks continue to do so. While getting a student credit card will help you build a credit history from a young age, it is not a wise decision to opt for, since the chances of misusing the credit card are much higher among students. However, if you are careful and keep a few simple tips in mind, you can surely establish a credible credit score and credit report by the time you enter the workforce.

When should you use your student credit card?

There are a few rules you need to keep in mind before putting your credit card to use. First of all, only use the credit card if you can repay the balance in full the following month. Use it to make only the most essential purchases that you cannot survive without. If you have to purchase some books that cannot wait until you receive you next loan check, go ahead and use your credit card. But, remember the first thing you need to do when you get your check is to repay the money use to buy the books. You can also put your credit card to use in case of emergencies such as car repair if you are dependent on your car to go to college. Try to ask friends if you can car pool with them till your next check arrives so you can get the car repaired without using your credit card. Only use the credit card as a last resort.

When to avoid using the student credit card?

If you have no means to repay the dues on the credit card, don't consider using it at all. Using it and not repaying the dues can lead to bad credit history; this will have an adverse impact much later in life. Do not use your credit card for fancy purchases that can wait till a later date. Finally, do not use your credit card just to impress your girlfriend or boyfriend.

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