Working on your university diploma could be very stressful on your brains, body and yes your pocket as well. With the fees increasing almost every year, coping up with the expenses could be a real challenge. It is a good thing that we have student credit cards that can give us immediate help when there are some urgent payables in school.
While it could be considered an advantage owing a credit card, it could also be a burden to cardholders. This could be the scene when the card had been misused or having the simple mistake of applying for the wrong card. This is often the case for students since they don’t have much experience yet handing their own money. Also students have become the prime ‘victims’ of banks charging the highest interest in the market.
The sad fact is that more and more students leave their college with a poor credit which in time would affect their lives outside the school. With the high fees and banks offering easy and fast cards, students find themselves having difficulty repaying. You might indeed used your card only for school purposes but you have chosen a bad card- this is the very reason why student loan through cards are not easily repaid.
You might be receiving irresistible offers from the banks but be very mindful with what you entertain. More often than not a student thinking that it could be helpful having several cards would go for each and every offer. This should not be your approach when it comes to credit card offers. Here are some factors that can help you determine which one you should go for.
Make sure that the fees and interests are reasonable. If you think that you have to pay too much using the card then go to your next options until such time that you found which one best suits you- one which will help you get through college without ruining your credit.
There are banks that offer no annual fee cards; they are also good options. It could also save you a lot when you opt for credit cards with the lowest credit limit. This way, you can minimize or limit your spending. Since it is limited, you would surly save it for the rainy days.
Improper card usage and wrong choice of cards could greatly affect your credit history. Remember that a good credit will give you higher chances of getting an important loan someday so make it a point to maintain a good one.