If you’re a college student you may be hearing that you should apply for a student credit card.  Credit cards have many benefits to college students, and yes should be considered at a younger age.  Credit cards allow college students to build credit, have many convenience factors, are a great way to learn responsibility, rewards students with many things like gift cards, electronics, travel discounts, and much more.  Allow credit cards may be beneficial to college students, they may also be very dangerous.  Read below to find out what you should keep in mind when using a credit card.

Spending – You want to make sure you never spend more money than you have.  This may sound like common sense but you’d be surprise how often it happens.  When you spend more than you have, you are allowing yourself not to pay your bill on time.  When bills aren’t paid on time, you end up spending even more in the long run due to interest, which starts the process of debt.  See how dangerous they can be if you don’t spend appropriately?

APR – When applying for a credit card you want to make sure you find a credit card with the lowest APR.  When people don’t pay their bill on time which happens often they are being charged interest.  So for example if you have a credit card that has 21% interest and you don’t pay your bill on time you will be paying .21 cents per dollar over the year to make up for it. 

On time – Always pay your bill on time!  When you have a bill that is due on October 30th, pay it on October 30th and no later.  When you aren’t paying your bill on time credit card companies will take even more money from you. 

Pay in full – Always try to pay your balance in full as well.  Why pay in full?  Credit card companies will charge interest on every penny that you don’t pay, and those pennies add up!

Safety – Make sure you know where your credit card is all the time.  When people use credit cards they often misplace them and loose them.  Why is this dangerous?  People can snatch your credit card and buy unlimited things under your name.

Secured Websites – When you make purchases online always be sure that the website is secure and doesn’t look fishy.  You never want to give your credit card number away to anyone that could abuse it.

There is a lot to keep in mind when you use your credit card.  Although it may look tough, it is actually very easy to use.  The best advice is use your credit card like a debit card.  You know your limits and you don’t want to spend more than what you have on your debit card because you will have overdraft fees.  A credit card is the same concept due to interest.  Keep these things in mind and you will have many benefits awaiting you in the future!