Credit Card Tips for Students
Credit Card Tips for Students Building a good credit score should start as early as college when you become financially independent. However, this isn’t always easy even when it is a necessity. Read on the tips on how to build your credit as a student to secure future financial dealings from utility companies, insurance companies, lenders, etc.
10 Things You Can Start Doing Today to Help Build Your Credit Score
Choose Your Credit Card With any other credit card, do your research and compare it to the list of features
you
want
in
a
card
like
rewards, interest rates and provider from
Visa,
Mastercard,
Discover
and
American Express. Moreover, read the terms
and
company
conditions
so
you
don’t
of
the
get
credit
surprised
with charges made on your card when for
example
payment.
you
have
made
a
late
Don’t Get Too Many Credit Cards Applying for too many credit cards make your credit score drop and makes it difficult to pay
them
thereby,
accumulating debt.
Be Frugal Buy sensibly and do not charge expensive items on your
credit
card
which
you
cannot
pay
off.
expensive
items
Charging
and not being able to pay them
off
makes
your
interest payments accrue.
Pay Your Bill In Full This
is
pretty
self-explanatory paying bills
your in
arrive yourself
credit
full
can
when
help
from
massive debt.
but card they
prevent
amassing
a
Pay on Time Always pay your credit cards on time
since
non-payment
sends
a
signal to credit lenders that you are
a
your
risk, credit
includes
which score.
other
could This bills
affect also like
utilities, library fees and taxes since credit bureaus also check on them.
Have A Savings Account Do card
not
use for
your
credit
emergency
purposes. Always use your savings account on this so that you do not get debts you can’t even pay off.
Never Make Cash Advances Besides the interest rate you make cards
for
using
there
is
your also
credit a
cash
advance fee between 2-4% when you make a cash advance making the interest rate higher.
Have A Budget Stick to a budget and don’t go beyond
your
credit
limit.
Going overboard can be costly because credit card companies impose fines. Moreover, going beyond
35%
utilization
of
your
can
your credit score.
lower
credit down
Never C0-Sign for A Friend Co-signing credit
can
score
affect
your
especially
if
your friend is unable to make payments
on
Consequently,
his you
loans. will
be
asked by the lender to pay for the loan taken by your friend.
Be Responsible Use
your
wisely. items
credit
Never that
you
card
purchase cannot
pay and always pay your credit card bill on time or before they are even due.
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