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Three Reminders for Student Credit Card Holders

By George Hauser
Published: Monday, November 23rd, 2009

With the increasing number of credit card holders comes the increasing number of people getting buried in debt. A large percentage of this group is students who use credit cards. There are many ways to apply for credit cards. Young people who cant wait to avail of the seemingly carefree way to purchase items even when they don’t have cash at hand is the target of credit card companies. 

One of the credit score tips that most credit holders forget is too stay updated with the contents of their credit report. It is only through this way that they can actually determine how to increase their credit scores, repair their broken reports or start building good credit and get out of debt. 

Other credit score tips start off educating consumers especially students about the importance of good credit. When you have a credit card and you use it frequently, you begin to build a credit history. All transactions that involve credit are gathered by credit bureaus and recorded in a credit report. The next time you apply for a loan, or look for a house, or purchase insurance, the people you transact with request for your credit report. 

This becomes their basis for approving your applications. One of the credit score tips that also usually get taken for granted tells consumers to minimize the number of debts. People, especially young consumers get overwhelmed with what they can have using their credit cards that they most of the time charge over the limit. When the time comes for payments, they get shocked at how much they owe, that late payments and delinquencies get reported. 

Here are some helpful tips students owning credit cards would find very helpful. 

  1. Choose a credit card based on your needs and your financial capability to pay. The most helpful credit score tips tell you that you should make wise decisions not only on how the credit card you will get, how you use it, but more importantly on having one. If you apply for any kind of credit, make sure that you need it and that you can keep your credit score in a good shape. Do check on the rates before you make an application to make sure you can afford it. 
  2. Don’t over-apply. Some people think that one credit card is never enough. But when you are a student, what could you possibly be spending on that needs two or more credit accounts? An array of credit card offers may come your way, but you shouldn’t be tempted to make applications. This is especially if you are already having trouble maintaining one. 
  3. Another of the many practical credit score tips warn credit holders and consumers to charge or purchase on credit only items or services they can actually pay for. People who have a credit card at hand have the tendency to delude themselves thinking that they can have anything they want regardless of the costs. This is why it’s important to have a stable source of income from which you can repay the things you have on credit. 

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