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.
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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.
I wish I could have read this before I purchased my credit card…Bummer!
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.
credit cards always bring people into debt since humans don’t really know when to stop buying
learning this.. hopefully won’t get me in debt.. that y am scared of getting a credit card.
Using a credit card should be a last resort.
Personally, I use cash and debit. It keeps me out of trouble
i think credit cards should be used to all student.
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.