10.08.09 | Choose Your First Credit Card Wisely
During my first month of school as a college Freshman I attended College Fest. College Fest was a huge back to school festival featuring live performances, contests and “free stuffâ€. As a freshman in college I could not resist free stuff! There were credit card companies everywhere giving away free t-shirts, backpacks and water bottles to any student who would sign up for one of their cards. I thought it was awesome! I signed up for three cards that day and walked away with a big bag of swag.
After a week or so I had completely forgotten about the cards I had signed up for, that is until my Mom came out for a visit with a pile of mail. I got a tongue lashing from her as she held up my newly minted credit cards. I promptly canceled all three and did not apply for another card until my senior year of college.
What I neglected to realize is that there is a right way and a wrong way to get your first credit card. The wrong way is to sign up for any old card just to get a free t-shirt. We all hate to do laundry, but one more extra large t-shirt is not going to make a huge difference in your wardrobe. What you need is a place to go where you can educate yourself about credit, like you are today. We can aid you with your credit card research and help determine the best credit card for you. We also provide credit education for students wanting to learn about APR, FICO scores, debt management, and money matter topics. I wish a site like this was around when I was a college freshman.
The truth is having a credit card to use while in college would have been beneficial for me, because it would have helped me establish credit before I dawned my cap and gown. It would have also taught me how to be a responsible credit card holder. Establishing a credit history in college can help you get a loan, buy a car, and rent an apartment when you graduate. When I bought my first car after college I needed to have someone cosign the loan since I had almost no credit history. Once again I was at Mom’s doorstep.
A credit card is also beneficial because it gives you security in emergency situations and enhances you sense of personal responsibility. If you establish healthy credit practices in college chances are they’ll follow you for a lifetime. I have a credit card that I use to make almost all of my purchases now, however, I make sure I do not spend more than I have in the bank and I pay it off in full every month. Because of this I have established excellent credit and was recently able to secure a mortgage to buy my first home. Having good credit really does pay.
The sooner you realize it’s a plastic world the better off you’ll be. Leave the t-shirts, backpacks and water bottles for the others to fight over. You’re on a different plan. You’re on the fast track to establishing a solid credit foundation that will set you up for the rest of your life.
CHECK OUT THE BEST STUDENT CREDIT CARDS
ScholarshipPoints code: WISECREDIT
The Student Credit Blog is sponsored in part by:
Good advice. Noted: No signing up for a credit card for free stuff. Honestly I probably would have done that if I hadn’t read this. Thank You.
January 24th, 2010 | #
i think credit cards should be used to all student.
December 29th, 2009 | #
Personally, I use cash and debit. It keeps me out of trouble
December 28th, 2009 | #
Using a credit card should be a last resort.
December 27th, 2009 | #
learning this.. hopefully won’t get me in debt.. that y am scared of getting a credit card.
December 23rd, 2009 | #
credit cards always bring people into debt since humans don’t really know when to stop buying
December 18th, 2009 | #
i think people should get a credit cards for needing purposes only like food, housing, and for your child(ren)
Do not get one for shopping purposes, you will be in debt.
December 17th, 2009 | #
I wish I could have read this before I purchased my credit card…Bummer!
December 15th, 2009 | #
credit cards arent meant for everyday use. they should only be used in emergencies. Not just spending the money because you have it, when you really dont because then you have to pay everything back.
December 10th, 2009 | #
Hmm, Are there things like that in Arkansas, college fest?
December 7th, 2009 | #
I am currently a member of a credit union. They offer a MC at 9.75% annual, no annual fee, and will cap the card so your amount or limit you can charge cannot be changed without your premission. I only have a limit of 250.00 on this card. It can never change without my premission. It is to be used in College for emergency. It’s hard not to charge when you have a credit limit of 500.00 or more. Limit your card.
December 7th, 2009 | #
CREDIT CARDS = EMERGENCIES
December 5th, 2009 | #
I think that very one need at least one with low credit line to help build credit. Need to pay the balance each month and use it wisely.
December 5th, 2009 | #
I think credit cards are terrible. And people should just learn how to use the needs and wants system.
December 3rd, 2009 | #
Credit aptitude is based on keeping that dollar.
November 30th, 2009 | #
Credit cards can get people into financial trouble and I would want to be smart about using them when the time comes.
November 28th, 2009 | #
Credit cards should only be used in real emergencies and should be paid back pronto!
November 26th, 2009 | #
Credit Cards should only be used in real emergencies and should be paid off pronto!
November 26th, 2009 | #
Any suggestions on good student credit cards?
November 23rd, 2009 | #
credit cards are something that actually scare me, im not sure if i ever want one.
November 21st, 2009 | #
i personally would jus avoid credit card period but, in todays advancing world i dont think it is possible.
November 20th, 2009 | #
great idea.
November 14th, 2009 | #
Credit Cards actually scare me and I don’t like how many things today require you to have credit cards, espcially online
November 14th, 2009 | #
Personally, sometimes the idea of credit cards scare me, especially given that it’s almost required to have one to do a number of things, espcially online.
November 14th, 2009 | #
I need it for emergencies and/or temporary money and want to build up my credit in the process.
November 13th, 2009 | #
I have bad credit. no credit cards for me.
November 12th, 2009 | #
I dont wanna credit card they suck
November 9th, 2009 | #
I have a credit card yet i haven’t used it. If we don’t use it…is there no credit in it?
November 8th, 2009 | #
thanxx for the advise
November 6th, 2009 | #
i am in the process of convincing myself i can finally handle a credit card so thanks for the insight
November 5th, 2009 | #
thanks for the insight on credit cards and establishing a good credit history in college to help you out in the future. This will be just one of the many things that will help when I am considering some of those major decisions for college. So thank you!
November 3rd, 2009 | #
Credit Cards can be great for some things, but use it wisely. Like use it for food and needs are great but if we pay it for fun, its have to be worth it.
November 2nd, 2009 | #
i’ve been researching different credit cards to get, but haven’t decided on one yet. i am just doing it to build my credit for my future.
October 30th, 2009 | #
credit card are ok….. if u use them wisely
October 28th, 2009 | #
People in general should stay away from CC becuase ones you get use to the buy now pay later deal you never end up paying later for it and you end up paying alot more for what you purchased in the first place.
October 27th, 2009 | #
i think credit is important buy scary. jaja i need to build credit
October 27th, 2009 | #
Whoa.. I was totally considering the path to no-credit-card usage during college because of the many horror financial stories.. Credit history, eh? Thank you so much for posting this article up! *_*
October 25th, 2009 | #
credit card is easly portabile ,in addation to this , using cash may expose us for robe beside this the amount of money that we are going to expend will increase when we use cash money but with cradit card we cant access every thing we want becouse the service is not accessable in every corner.
October 23rd, 2009 | #
i think that you should have one
October 22nd, 2009 | #
thanks for the useful info!!
October 21st, 2009 | #
Very very very vaulable information!!!
October 21st, 2009 | #
I think you should get a crdit card when your ready for the responsibility of having one.
October 21st, 2009 | #
It is good to have good credit because in the future when you are able to buy a car or a house good credit is a positive.
October 21st, 2009 | #
I do not like credit card It will get you in to much debt.Credit cards know how to get young college student without a job ,when you finally college you be paying back loans and credit cards. I stay away from credit cards and loan.
October 20th, 2009 | #
I’m going to agree w/ Victoria
October 19th, 2009 | #
It’s important to look at the interest rate too.
October 19th, 2009 | #
I haven’t even thought about getting a credit card at this point, even though I know I should. Thanks for the article!
October 17th, 2009 | #
wow.. definitely becareful
October 17th, 2009 | #
i think that was a very good idea in a way
October 17th, 2009 | #
Credit cards are great for building credit and that is the only thing that they are good for.
October 17th, 2009 | #
I think credit cards should only be used if one has the money to pay off the debt immediately which helps build good credit. Also, if there is an emergency. Otherwise, use an atm or debit card because it comes straight out of one’s account without the interest.
October 16th, 2009 | #
I think credit cards should only be use when you are in thight bind.
October 16th, 2009 | #
Very good info
October 16th, 2009 | #
Very good info
October 14th, 2009 | #
Ashley, I think you are missing the point of the article. Choosing a credit card because your getting a free gift or on a whim is a bad idea, if you do your research and use it wisely it can be a great credit building tool and help you in the long term.
October 14th, 2009 | #
Credit cards are ok, but often times companies will offer students cards with extremely high interest rates, APR and extra fees. So beware!
October 14th, 2009 | #
Credit cards are a bad idea. you dont realize how much money you are spending when all you have to do is swipe a plastic card
October 11th, 2009 | #
I need to build some credit.
October 9th, 2009 | #
i think credit cards should be used for emergencies only
October 9th, 2009 | #