Students use credit card as style

Most of the students have dream of having a credit card while studying so they can also fill their wallet with some plastic cards, which shows the logos of visa, Master or american express as style and give an extra touch to their wallet. It is just a charm to have few credit cards in the pocket, but there remains a lot of chances that students become extravagent in adopting this style.

Many credit card companies are now lenient in offering credit cards to students by offering no annual fee credit cards  as this facility was not seen a decade ago. The companies also offers balance transfer credit cards facility to ease the load on students spending by offering lower rates. The students should be careful in their spending. The students must plan well in using their cards. The following tips can help students to avoid credit card misuse and any security concern.

• Try to restrict your credit card use to only one or two cards.
• Use credit wisely. Ask yourself the following questions before purchasing with credit: Is this something I need? Do I need it now? Do I have the ability to repay? How long will it take me to repay? How much will it ultimately cost me?
• Make sure that monthly debt payments do not exceed 20 percent of your monthly net income.
• Shop around for credit cards with low interest rates, low annual fees and reasonable grace periods before finance charges begin.
• Pay the entire balance when it’s due and review your spending habits to cut unnecessary purchases.
• Pay your bill as soon as you get it, and if you can’t pay the entire balance, pay more than the minimum amount due when possible.
• When you use credit to pay for an item, write down the amount and subtract it from your funds to ensure you can pay the amount at the end of the month.
• Never lend credit cards to friends or leave cards or receipts lying around where people can find them.
• Think ahead. Be proactive, not reactive, about your finances. Plan for different obligations now and after graduation.
• Keep a list of your credit card account numbers and phone numbers in a safe place in case a card is lost or stolen. If a card is lost or stolen, report it as soon as you notice it is missing.

Popularity: 23% [?]

Bookmark to: