Student Credit Card Primer

When the baby bird gets that first chance to spread its wings and fly through the air

, it finally feels freedom blowing through it's feathers. And if it doesn't learn to hunt quickly, it will feel gurgling blowing through its stomach. So it is with the student who finally gets to leave home..

There is more than just laundry to take care of.The student must also get on top of his finances. As a student, you need to learn about responsible financial habits and how they affect your credit score. Your financial life won't take care of itself.. Your future abilities to borrow money and be seen as credible in the eyes of your bank rests on your approach to finances as a student.

One of the easiest ways you can begin on the a smart financial path is to become the proud owner of a student credit card.

What to look for in a student credit card

Students don't generally have any financial credibility. They are fresh out of the package. This can make it quite difficult to get a credit card of any kind - even harder to land one with an attractive rewards program and interest. (If you are under 21 and without a steady job in the United States, you will need a mature co-signer. Vive Le Canada!) Fortunately, these difficulties are not insurmountable. There is still a way to find a good college student credit card. There are some credit cards that offer you, the student, valuable rewards programs and low overall fees.

When you search for a student credit card, you should expect to pay a slightly higher interest rate that other people with established credit scores Luckily, many student-focused credit cards come with decent rewards and without annual fees. When offered the option of a rewards program, make sure that it's flexible and one that that you are likely to use. Points can usually be redeemed for special promotions and sometimes even for cash.

When it's time to choose that student credit card, see what kind of promotional APR is offered, and how long it lasts. You should also be careful of making the selection of a university student credit card based on the special gift alone. You can enjoy the gift if you like (Why not?), but if you seek long term benefits, pay attention to the actual rewards program before you fill in the application for whatever student card you select.

Use That Credit Card Responsibly

Once you have in your hands your new student credit card, it is important that you use it wisely. There are some obvious smart moves that you should follow if you wish to avoid the debt trap that so many students wind up setting for themselves. Money doesn't grow on trees - not even with a credit card.Buy only those items you already have money for. The idea of establishing a credit score, is to pay off your credit card each month. Right away. This will help you avoid interest charges - and save you money. You can use your credit card to rapidly build up a positive credit history...and that will help you get the loans you need a few years down the road.

A student credit card is a wonderful financial tool to help you prepare for the future. The reality, though, is that if you use it like a pig in - well, you know what a pig rolls in - you will most likely find yourself knee-deep in a muddy debt pit. Don"t let the freshly-acquired purchasing power of your credit card go to your head. Make sure that you keep behaving in a financially sound manner. Getting approved for a student credit card should not be a reason to ignore wise money management. Live long and prosper.

by: CreditCardsCA

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