Just like getting your drivers license, getting your very first credit card may be an exciting milestone for a student. For a student with no substantial credit, it would be best to select a card that is most fitting to your credit condition and experience. As a young individual, you are far from getting platinum. A student card is your best option especially if you are just getting started with credit.
Getting credit cards requires you to have credit history. A student with no credit history can get started by applying for cards that can agree to your current credit situation. Most of the time, you will be given a card with low credit limit. This is a great way to start so that you can limit your use of the card and know your limitations. Using the credit card is very tempting especially for a young individual so you must show responsible behavior in managing your finances. You can show that by paying your bills in full. Having a low credit limit and high interest can subject you to pretty big charges if you do not pay in full. If you pay the full cost of your card use, you can minimize free yourself from interest rates that can greatly wound your savings.
If you are looking for student cards, the next best way to minimize your costs is to choose cars with no annual fees. Some card companies have the option to waive the annual fee if you make a purchase within 12 months. If you can commit to make a purchase that you can pay in full at least once a year, then you can definitely take advantage of these features offered by the credit card company.
Never skip on paying your bills. Again, this can greatly wound your savings. The interest rates for most credit cards can reach from 15% to 20%. Sometimes, the APR can also be at a maximum of 30%. Missing out on at least one payment can deeply cause a lot of issues. As much as possible, use the card only if there are no other options. For example, your mom parents have not sent you your allowance yet. You can use the card for this valid reason if you are out of supplies or you need to pay for books and other bills. The credit cards are great but risky learning tools.
For more information about credit card score, you can visit the authors website on credit card scores.
Getting credit cards requires you to have credit history. A student with no credit history can get started by applying for cards that can agree to your current credit situation. Most of the time, you will be given a card with low credit limit. This is a great way to start so that you can limit your use of the card and know your limitations. Using the credit card is very tempting especially for a young individual so you must show responsible behavior in managing your finances. You can show that by paying your bills in full. Having a low credit limit and high interest can subject you to pretty big charges if you do not pay in full. If you pay the full cost of your card use, you can minimize free yourself from interest rates that can greatly wound your savings.
If you are looking for student cards, the next best way to minimize your costs is to choose cars with no annual fees. Some card companies have the option to waive the annual fee if you make a purchase within 12 months. If you can commit to make a purchase that you can pay in full at least once a year, then you can definitely take advantage of these features offered by the credit card company.
Never skip on paying your bills. Again, this can greatly wound your savings. The interest rates for most credit cards can reach from 15% to 20%. Sometimes, the APR can also be at a maximum of 30%. Missing out on at least one payment can deeply cause a lot of issues. As much as possible, use the card only if there are no other options. For example, your mom parents have not sent you your allowance yet. You can use the card for this valid reason if you are out of supplies or you need to pay for books and other bills. The credit cards are great but risky learning tools.
For more information about credit card score, you can visit the authors website on credit card scores.
