Taking Responsibility for Your Student Credit Cards

Nowadays you can walk into a common area of a college during the day and you will see plenty of booths that are set up to offer the student credit cards. Before you even fill out an application you should learn the basics of responsible credit card habits. Your credit should be taken seriously and you shouldn't just take any credit card that offers you a free hat for signing up.

Two of the most recommended student card cards are:

Chase - Not only do they offer you student credit cards, but they also offer rewards for some of your favorite places such as Best Buy, Chili's, and Sam Goody.

Discover - Also a highly recommended credit card company that works directly with students to keep their credit on track.

When you start out with your first credit card, it is extremely important to be responsible. As this is your first chance to make a good impression for your credit rating, you don't want to make a bad choice that can haunt you for the rest of your life.

Here are a few ways to take responsibility for your student credit cards:

Pay your bills promptly to avoid late fees and a lowered credit score

Make sure to keep track of everything you charge on your card

Be sure not to exceed your credit limit

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Avoid various fees such as over-the-limit ones

Report any changes as you move to avoid late bills

When you first get your student credit card it will have a low limit, not only to protect the creditor but to protect you from overspending. It is a way of preventing abuse of the card by someone who is not experienced in having a credit card. Once you have proven to be responsible and pay at least the minimum balance on the card each month, the credit card company will eventually raise the limit and extend you additional credit.

A student credit card will most likely have a higher interest rate than the standard credit card because you it doesn't have the same requirements. Usually a student credit card does not require you to have a job, or they can use your work study job as a reference. You also have no credit history so essentially they are taking a chance on a person that may or may not pay in a timely manner. Also, it is a way of making more money off of the students that do pay to counteract the students that do not pay on time.

Use your time in college to build your credit rating so you won't get into trouble when you want to buy your first car or your first home.

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