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Getting a student credit card is really easy since banks easily approve them. However, the challenge lies in using the card wisely to ensure you don't get trapped into debts you cannot come out of. Hence, there are a few things that all of them should know about student credit cards and their usage.

First of all, you should make a well thought out and informed decision when you decide to go in for student cards. This is because you will be flooded with promotional offers from innumerable banks that it is easy for you to fall prey to a wrong lender. While there are a lot of lenders who do offer some great student credit cards, there are a few others who use students as bait. Understand the terms and conditions of the cards perfectly, in addition to getting clarity on the interest rates and other charges before making your choice.

Next, understand when you should use the card and when to avoid using it. It is important that you use the card only when you are sure you can repay it within your next billing cycle. A lot of students use these cards to pay off their utility bills and also for food and clothes. Though these are essential commodities, it is imperative that you think twice and then make the purchase. If you feel there are some purchases that can be made at a later time, then wait until you have cash in hand. Use your car sparingly and instead, opt for student transport options whenever possible. Using credit cards to pay for transportation is one of the biggest mistakes to do.

Do not use the credit card if you are unsure about being able to repay it during the current monthly cycle. Carrying over the balance for a later date will attract high rate of interests and increase your debts. Do not use student credit cards for paying for your fitness classes and night out parties. These are little things that pile up over a long period of time and accumulate as debts on your card. in most cases, students have been unable to repay on time after spending on these and have paid hand over fist through penalties and late payment charges levied on their account.

The importance of student credit card cannot be undermined. But the key to a financial well being is being thoughtful while using it.