Student Credit Card Advice

When you are in college, you start to form some of the financial habits that will stick with you for the rest of your life. Some people make the best of this time by getting a credit card and using it wisely. Others accumulate large amounts of credit card debt and end up crippling themselves financially.

Building Your Credit
Even though credit cards can be dangerous when used incorrectly, they can also help you build your credit profile for the future. When you are a student, you may wish to go ahead and get your first credit card so that you can start a credit file. Part of the process of calculating your credit score looks at how long you have had a credit record. If you can get started early, you have a better chance of getting approved for loans in the future.

Light Use
When you get a credit card as a student, you need to use it lightly. This is not a device that you should use frivolously to pay for your weekend entertainment expenses. This is a tool that you should only use once in a while to make a purchase for something you need. If you are in the habit of paying off the balance each month, this is a good way to build your credit profile. Read More...

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