Building Credit as a Student

Eduard Poienar

Basics of Credit

Credit means borrowing some money for a while. Just get a easy, cheap, and suitable credit card for yourself. Some responsibility comes with this card, and it also has it's down parts. The money borrowed come from a lender. The lender is usually a bank.

APR is one of the costs of owning and using a credit card. APR is the interest applied to your purchase. If an item that you buy with credit is $10, when you pay for it with your money, you pay $12 or you can pay as low as $11. That is one small disadvantage. Benefits are rewards, gifts, points, and also money whenever you need it, at a swipe of card away.

The Credit Score is also something you should think about. If you have a good score, paying your personal loans in time, your score can be high and that means that your interest rate is going to be lower. The Credit Bureau keeps track of your score making Credit Reports .The Credit Bureau is a company that collects information relating to the credit ratings of individuals and makes it available to credit card companies and financial institutions. The interest rate is the extra amount of money paid to the bank because you used your credit card. That's another small advantage. You can/should borrow money if you want to buy a house, a car or anything else that you do not have the money for.

Information you have to know

A credit cared is a plastic card issue by the bank that helps you get stuff, paying later for it.

You can use this "plastic card" everywhere. At any store that accepts credit/debit cards. There is usually an annul fee for owning a credit card, that means you have to pay like $30 a year for owning the card. There is also a late fee payment that you have to make if you are not responsible. A late fee means that you didn't pay everything you had to pay off the credit card and you cannot pay it now. Using a credit card also has its advantages. You have a purchase protection, Return policy, Price protection and road protection.

The perfect card for you

There are a ton of cards you could buy. It is not easy to choose but you have to look for the best option for you. There are cards for people who travel a lot, students, teens, etc.


  • $0 annual fee
  • 13%-22% APR
  • 25% Cash
  • Qualify with average credit
  • Bonus cash back categories
  • No foreign transaction fee


  • $0 annual fee
  • 12%-23% APR
  • 24% Cash
  • Qualify with average credit
  • No fees
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