Are you a college student that has just got their first ever student credit card? If so, you must be excited, you’re finally old enough and responsible enough to own one! Although you may think you know how credit cards work entirely, there are still some important tips that you should always keep in mind. What are those tips? Continue reading below to find out how to use a credit card wisely and what to keep in mind when owning one!
- Never spend more than you make – it’s that simple!
- Remember that a credit card is not free money and you will have to eventually pay it off in the future.
- Always keep your credit limit in mind.
- Try to use your credit card just for emergencies to eliminate unnecessary spending.
- Always pay your bill off on time.
- Try to always pay your bill off in the full balance. – This is very, very important. Most student credit cards have a high interest rate to make sure they get their money back. If you don’t pay your bill off in full you may get charged 20% interest annually!
- Never give out your credit card number to anyone!
- Always be careful with where you place your credit card – someone can easily use it and buy whatever they please.
- Be careful with online purchases. If the site doesn’t look safe, it’s probably not so don’t take a risk!
There are many things to keep in mind when you get your first student credit card. It is always important to keep in mind that a credit card isn’t free money. Credit cards are an easy way to get into debt if you don’t use them wisely. Don’t get yourself in that situation if you can avoid it. Instead, enjoy the conveniences of a credit card, get the rewards you deserve and build a nice credit so you will be benefited in the future!