College is a very exciting phase of one’s life. There are lots of things going on — academic related activities and parties are two of the most common things college students are likely to have on their planners. However, as nothing is free in this world, these activities would also require students to spare a couple of bucks to keep moving and not be left behind. Unfortunately, not everyone would be able to catch up when it comes to cash-related matters. Good thing student credit cards are just hanging around.

Students above the age of 16 can already take advantage of this offering. A careful examination of how it works would be necessary though, as student credit cards mark the start of the documentation of your credit history. Bear in mind that even your sometimes know-it-all mom has her credit issues. Therefore, expect the worst if you just plan to get a credit card without enough knowledge on how you should best handle it.

No one can tell you what you can and cannot do with your plastic once you already have it. Having fun is always part of college life and I wouldn’t want to ruin your dreams of finally getting your dream date or that new computer by giving you a list of do’s and don’ts. I guess the best way to go to keep a good head above your shoulders despite all the temptations is still to educate you of the debt-pushing-factors you should never overlook if you plan to stay in college and not be forced to work fulltime just to pay your debts in the end. And now, first on our list is…

  • Interest! Hey, you may have expected cashless shopping but it’s not free. You would have to pay the interest you owe the bank for using their money.
  • Monthly fees. You can’t get away with this. You’ve used your plastic for a certain time frame and voila! A monthly fee is surely going to arrive at your doorstep.
  • Restrictions. You’re not that lucky to be able to use your credit card just anywhere you want. You should be aware that your plastic is not an all-around plastic. Apart from this, you also have a credit limit to watch out for.

All these are going to be indicated on the contract and agreements that you are to sign before you get your card. So, you won’t have excuses if you end up in debt. The only time you can excuse yourself is right then and there, when you are on the act of signing that piece of paper. Ask yourself: Am I ready for this?

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