The Advantages of a Student Credit Card
In the last blog on this topic, general information and facts were discussed on student credit cards. In that blog, there was a statement about advantages and disadvantages of student credit cards. This article, if you have not already figured it out, is about the advantages of them. Again, like a lot of other things, student credit cards have a good, a bad, and an ugly, and choosing whether or not to get one is a decision that should be carefully looked into.
Student credit cards are great for a lot of things. They can be used virtually any where, and are great for students because they are always on the go, and even if they’re not the out and about kind of person, they still come in handy. Credit cards have something called a credit limit; it’s the amount you can charge to your card over a certain period of time, usually a month. So if your credit limit is, for example, $2,000 a month, that’s how much you can spend over a period of 30 (or 31) days. That’s not too shabby, since you will probably have a job or at least some type of income coming from some where (yes, parents count).
Another advantage of a student credit card is independence, some thing all students want or at least shoot for. It allows you to leave behind the borrowing from your parents, or having to use a title loan or payday check place, and puts you in charge of your finances. Being in school is both a physical and mental demand and having to go to the bank or an ATM to get out money to spend can leave you feeling dependent on something such as a checking account, whether it’s yours or someone else’s. But with a credit card, you go buy what you want or need, swipe your card in the card reader, get your receipt, and go. It’s so much easier, and makes you feel better, well independence wise that is.
Credit cards are great for students. They just allow them to have more freedom to buy what they want and at the same time make them responsible because they have to learn when to say no. Credit cards take some of the hassle out of the hustle and bustle of college. They allow a student to live life to its fullest, at least, for a little while.
BUT, there is always a but, credit cards are not free money. It is important to use credit responsibly and understand the concept of “NEED” vs. “WANT” spending. The concept is self explanatory. If you need an item consider purchasing it with your student credit card, keeping within a budget. If you want an item, either use cash or pass up the urge to purchase this item your want but don’t really need. Educating yourself on basic credit card spending techniques will put you at an advantage to building strong credit.
Student credit cards.com @ September 18, 2008