Credit Cards for Leyden Students

What lays ahead for your credit after you graduate.

The Basics of Credit:

What is Credit?

-You are able to get money you don't have, as long as you pay it back later.

-If you don't pay it back, you could get into trouble with your bank.

Forms of Credit:

-Credit Card: A set amount of money on a card which you can use for whatever you want as long as it's within your amount.

-Loans: You can get money from the bank to pay off things like school, your house, or a car. You do have to pay the bank back, however.

Costs of Having Credit:

-You must pay an annual interest rate.

-Interest rate is a percentage set when you first get a loan or credit card.

Are You Able to Get One?

-You must be a reliable person to pay back the loan.

-Follow the 3 C's of Credit!

3 C's of Credit:





All About Credit Cards.

What are they?

A credit card is a bank-issued piece of plastic with an predetermined amount of money on it for personal use. The thing is, you have to be able to pay the bank back.

Where can they be used?

They can be used anywhere your specific card is accepted at.

Benefits & Costs?

Credit cards can be very handy when you don't have that much money in your checking account, and you really need/want something. The downside to credit cards is that you're charged an interest rate that is set up before you start using it. If you go over your set amount on the card, you are charged an Over-The-Limit fee or a penalty fee, so it is best to pay the bank back as soon as possible.

Important Tips When Using Credit Cards

  • Don't give the use of your card to anyone that isn't trustworthy
  • Don't put such a large amount to begin with
  • Use your card for something like gas, or pay off your student loans with it
  • Try not to use it for random things like clothes, or a movie