Student Credit Cards - Are They Right For You?

Student credit cards can be best consolidation loan student good thing for college kids. Using credit cards right can establish a great foundation for your credit history. In todays world many businesses always look at your credit history.

Your credit history will be used by banks to extend credit, landlords, and insurance companies just to name a few.

How to choose the right student credit card

You need to do some research before you get your card. Look at everything the card offers. You need to look at the annual fees, annual buy meridia rates, grace period before interest accrues, and penalty fees if you miss paying your bill on time.

You will see a lot of advertising listing outstanding introductory offers. Make sure you know how long the offer lasts.

Many colleges have their own credit unions or have a couple of banks that they are associated with. You might want to check them out because they might have some special offers for college kids.

Once you have made your decision and you receive your card, make sure you pay off the balance every month to avoid any interest charges.

How to stay out of debt

1. Create a budget. - Make a list of all your income and all of what you think your expenses are going to be.
2. You only need one card. - There is no reason for you to have more than one card. Only having one will help keep you from overspending. By only having one you can keep track of all of your payments and bills.
3. If you have more than one card, make sure you pay the balances of the highest interest rate. - If you have built up a couple of balances, quit using your cards and work on paying them off.
4. Be smart with your cards. - Try to resist impulse buying when you are using your cards. This is where most students get in trouble. Use you card wisely.
5. Check your credit reports. - Every year request your "https://www.annualcreditreport.com free credit report to make sure everything is Kansas Lemon Laws reported correctly.
6. If you are having problems keeping up with payments - Contact your credit card company and see if they will waive any late fees, lower your interest rates, or possibly make special arrangements to pay your balance.

A credit card can be a great tool for a student if the card is used wisely.

Mark Nelson is the creator and owner of financialhat.com financialhat.com The goal of this site is to educate parents how to teach their children about money and also to teach people how to build their wealth for their own financial independence. If you would like more information on how to build your wealth please go to Mirtazapine website and download his free e-book.