Credit Cards: Invaluable Tips For the Inexperienced
One of the most important things a student who wants a credit card must do is a financial
assessment of his/her current situation, research the net and the books, review which one has more rants than raves and question all the people to be involved in this credit card application. It is very important that the student knows everything that he/she is getting into before the actual request.
It's no fun at all applying for a card and just being rejected once or twice. That is why college credit cards were invented, to help small earners like you because you are still in college. But don't worry what you need to remember is to develop a good credit card history. Since you are starting you just need to be a wait a little. Remember patience is a virtue.
Here are certain things you need to remember:
- If you have your own place now, remember one thing. PAY YOUR BILLS ON TIME. That will definitely put a star in your potential to be a good credit card owner. Companies will see that and you might just be shocked by the number of companies wanting you as their customer. They will swarm to you like bees to honey.
- Credit cards can deceive us to thinking of wealth we don't really have. Avoid using the card unnecessarily.
- Use this card to put an A plus on your credit record.
- Make a small financial plan for yourself. Plan what you will be spending and plan how you will be able to pay for it.
- Assess yourself and know and how much you can really afford.
- Do not over spend. You will just kill your credit record.
- Use your card regularly; don't make it look like it has not been used.
- Beware of fees. Especially late fees due to your inability to pay at the due date.
- For some credit card companies student cards have no annual fees. Be sure to grab that.
- Can help pay for tuition fees.
- If at anytime you transfer addresses immediately notify your credit card company so the bills will still be able to get to you at the proper time.
- Low interest rates
- Not only is this credit card helpful it has a lot of incentives stuck with it. (Like tickets to see MTV shows).
Not all good things are meant for you. Things as important as your record need to be acted upon responsibly. If you have a knack for spending a lot or you are already termed as the impulse buyer you might want to give this a second thought. This will only entice you to spend even more. False wealth is never a good option.
Having bad credit will cause you even more worries eventually as it will reflect on your credit record. Not only will you have problems with debt, you will also lose a chance for home loans, payday loans and automobile loans.
Above all this, know your rights through the Fair Billing Act for Consumers.
- If someone stole your card and was used, you will not be legally responsible for what happened. Just remember to immediately report this lost card.
- If a certain good or service was ordered but was not received, what ever was charged in your bill will be cancelled.
- If someone used your account without your authority you may also let this be cancelled in your account.
- If there are any mistakes in your billing
No matter how young you maybe it is not an excuse to act like a kid. Act conscientiously and maturely, know what will pull you down and what will bring you up. Credit records are stuck to your name for a long period of time. You shouldn't put any blemish in it. If you unluckily did try your best to have it removed in your name.
Good credit records will aid you and allow you to be given loans for your house, automobile and payday loans. Starting with your student card and keeping it blemish free will give you more chances to use these loans at the time you will need them. Isn't that neat? Clean record and better chances of loans in the future. Cool.
Credit Cards: Invaluable Tips For the Inexperienced
By: Juliet Spalding
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