Credit Tips for College Students

Top 5 tips to manage your credit card wisely

Tip #1

Know how much you can afford to charge. Make sure you only charge what you can afford to pay. Using your credit card on items that you can't afford is one of the fastest ways to get into debt because you're building a balance you can't pay.

Tip #2

Stay under your credit limit. It's best to stay about 30% under your limit. Credit bureaus don't like to see you getting too close to your credit limit. If you exceed your limit it can damage your credit score and you will have to pay a fee.

Tip #3

Don't open too many cards. There are temptations to get new cards everywhere. If you have too many cards it can be difficult to keep track of your spending and your payment due dates. The more credit cards you have, the more opportunity you have to get into debt.

Tip #4

Shop for your credit card carefully, they're not all created equal. Pay attention the the credit card terms. Look for a card with a low Annual Percentage Rate (APR) and a low or no annual fee. Understand the cards "Change of Term's" policy.

Tip #5

If you get into credit trouble, get help. Don't be afraid to ask a family member for help. Talk to someone before your situation gets any worse.

Works Cited

"5 Credit Card Tips for College Students." Discover. N.p., 13 Feb. 2015. Web. 14 Mar. 2016.

"Top Five Credit Card Tips For Students - NerdWallet." NerdWallet. N.p., 18 Jan. 2014. Web. 14 Mar. 2016.

Union, Consumers. "Credit Card Tips for College Students." Credit Card Tips for College Students (n.d.): n. pag. Consumer's Union. Web.