| Moving out. This is the term often connotated when | | | | It is as if their reputation on the credit department is |
| you turn 18 and go off to college. College equals | | | | already tainted and unlikely to be erasable. |
| independence. Mom and dad arent around so you | | | | 5. If you are going to sign up for a credit-card, make |
| could do things youve always wanted to. You dont | | | | sure that you have ways paying for it. Most student |
| have to worry about them looking over your shoulder | | | | credit-card holders have part-time jobs. Some make |
| because chances are, youll be miles away from them. | | | | the mistake of having a credit card but then run to |
| Your only concern is cash. Since your parents arent | | | | mommy and daddy when they cant pay for it. |
| there on your beck-and-call, you have to earn your | | | | Its because if you dont have money coming in and you |
| own moolah and fast. | | | | have money going out, then there is no balance. We |
| Just as how one is entitled to be on his own in college, | | | | suggest that you have a part-time job for the reason |
| this is also the perfect time for one to start off his | | | | of your credit card history. Learn to budget your |
| credit history. Credit cards are often offered to | | | | money and also the time when you pay your bill. It |
| individuals who are heading off to an independent | | | | looks good on your statement if you pay your bill on |
| stage of their young lives. | | | | time and in full. |
| Tips on handling a college credit card well: | | | | 6. Read and understand the contract before you sign. |
| 1. Dont be overwhelmed on the bonuses you get | | | | If you are not that knowledgeable on business matters, |
| when choosing a credit card that is appropriate for | | | | you could ask a trusted friend or family member to |
| you. Some issuers include discounts on novelty stores | | | | explain terms such as interest, credit limit, balance, |
| that are of interest to their targeted clients. The catch | | | | interest fee, annual fee, grace period and due date to |
| is their consumer is too excited to what he can get | | | | you. |
| less to notice that he is actually paying more because | | | | 7. Just like shopping for things you like, look around and |
| there is a higher interest rate. | | | | browse through a number of credit card issuers |
| 2. There are offers that are only good at the beginning. | | | | before deciding on one that you will be getting. Signing |
| Later on, there is actually a credit limit and it is not as | | | | up for a credit card is a commitment you make |
| much as the other competing credit cards. | | | | because not only does it involve money, it involves |
| 3. The minute you have a credit card in your wallet, | | | | your credibility as a consumer. |
| you have to use it wisely. Regard your credit card limit | | | | 8. Be aware of your credit score. On average, a |
| as the amount of cash you have in your wallet. You | | | | college student has at least one credit card. Go online |
| can only spend this much. Theres no mom or dad | | | | and check your statements whether its accurate or |
| telling you to stop spending. The conscience is all yours. | | | | not. By using your credit card like an adult and not like |
| Remember that if you do go overboard your credit | | | | a shopaholic, theres a possibility that you get big rates |
| card limit, you wouldnt be able to use it for some time | | | | in the long run. This is because financial institutions that |
| not unless you pay the withstanding balance. Dilemma | | | | loan money check on your credit history and the |
| is what if you are in dire need of cash the time your | | | | moment they see that you pay on time and in full, they |
| card got temporarily cut off. | | | | will have no qualm lending money or insurance to you. |
| 4. Statistics show a majority case of credit cards | | | | Its always best to start early in life. Why not do so in |
| getting cut up are from college students. The | | | | college? Those who are successful in their 30s have |
| repercussion of this matter is that because of their | | | | good credit card history. Its like their reputation of being |
| bad credit card history, they will have a hard time | | | | responsible is reflected on their bank statements and |
| applying for loans such as home insurance, car | | | | look how far it has gotten them. |
| insurance and the like when they are already working. | | | | |