Credit is an important part of just about any young adults life.  This is where you’re going to start off your adulthood.  Credit is important because this is going to allow you to become more responsible, learn how to manage your finances, and most importantly, it will allow you build credit so that you can buy that house or car in the future that you’ve always dreamed about.

Generally, whenever you ask a question about credit cards, you’ll always get mixed responses.  Some people will tell you to “stay away” and others will say that you can take advantage of many rewards.  Credit cards aren’t for everyone.  They are for those that can pay their bills off in full and not spend over their heads.  If you feel you’re a responsible young adult, then I highly suggest you take a student card for a test spin.

Before you even look for a student credit card application, make sure that you know what the pros and cons are that are related to student credit cards.  I made up a quick list that will show you a few pros and cons that you should be fully aware of –

PROS

• Student credit cards are great for those that are looking to buy anything online.  Without a credit card, you’re not going to be able to buy those things online that you truly want.  By now, you’ve probably also realized that things online are generally cheaper than items in stores.
• Lot easier to carry around.  If you have a card in your wallet, you won’t have to worry about carrying around a lot of money.  If you lose your wallet or purse, you won’t have to worry about getting your money back because you’re only responsible for the first $50 that’s spent on the card from purchases you didn’t make.
• Get rewards for your spending.  Unlike cash, when you spend it, you’re done, some reward credit cards will give you points or cash back for every dollar you spend.  Once you get enough points, you can redeem them for items like gift cards, etc.
• Credit cards are lot safer than carrying cash.
• The most important part of having a credit card is that you’re able to establish your credit history.   The long you have your card and the more responsible you are, the higher your credit score will be.  The higher your score, the better your rates will be when you apply for a loan.  Without a credit score, you won’t be able to get a mortgage or any type of loan.

CONS

• Fees.  If you don’t pay your card off in full or you go over your spending limit, etc, you can find that you’re going to be paying a lot in fees.  Make sure that you always pay your card off in full to avoid any type of fees that may occur.
• They can be dangerous.  Some people tend to treat the plastic like a toy.  I highly recommend you don’t do this.  Make sure you know how much you’re spending and make sure you’ll be able to pay it off at the end of the month.  Credit cards are money.
• Can lead to debt.  Yes, credit cards can be dangerous and this one goes with the one mentioned above.  If you spend like a mad man, you may lead yourself into some serious debt.

Credit cards are only dangerous when the user makes an error.  If you can follow my golden rule, you’ll be fine.. never spend more than what you can afford and pay on time, it’s that simple.  If you can’t do this, then you’ll most likely head down the debt road.