What you should know about student credit cards...
Before you startusing a student card, decide what it will be used for.
Remember that acredit card limit is not free money.
It basically is loan which you haveto repay.
Start slowly with one card with a low limit and use responsibly.
Starting small will help establish a credit history and keep you fromgetting into excessive debt.
Read the fine print and make sure that the card you signed up for iswhat you think it is.
Shop around for the best car for spending andrepayment habits.
Always pay your installments on time.
Make your payment at least aweek in advance.
Student credit cards are excellent convenience tool, so try to pay offyour total balance each month.
A balance carried to the next month canbe very costly.
If regular payments are made, you will not get intoserious credit trouble.
Should you already have significant credit card debt that you cannotpay off immediately, pay more than the minimum payment.
Should paymentsbe minimal, your debts will take years to repay.
Avoid having multiple student cards, including retail cards.
Too manyopen credit card lines, even if they have zero balances, would beconsidered a negative mark on your credit report.
Lenders do not like itwhen you have the ability to quickly incur significant debt.
Resist theurge to acquire that freebee by opening another student card.
Keep copies of sale slips and compare charges when bills arrive.
Contact the issuer and let them know should you be unable to make regularpayments.
Remember that interest rates can be negotiated with the credit cardissuer.
Do not let a friend use your student card, you will end up withpayments should he/she be unable to do so.
Create a budget and credit card recorder in which you document creditpurchases.