Based on the 2009 study by Sallie Mae, a leading financing company, the average college student has at least four credit cards yet only 17% of these cardholders consistently pay off their monthly balances.
Although having a college credit card can be advantageous for building early credit history, teenagers must be very careful about how they spend with their cards. The modifications made to the Credit Card Law such as not being qualified for your credit cards for students unless you have a co-signer or proof of independent income are supposed to reduce the number of bad credit cases amongst college students.
If you’re a student who has a credit card, what can you do to prevent bad debt and the effects it can bring? Check out these tips:
Avoid carrying a balance. To avoid debt build up and maintain good credit rating, completely pay off your balance. Don’t be happy with just making the minimum due payment. It can save you a great deal by not paying the rate and additional fees.
Read Full Article: Best Tips on Using Credit Cards for Students
Although having a college credit card can be advantageous for building early credit history, teenagers must be very careful about how they spend with their cards. The modifications made to the Credit Card Law such as not being qualified for your credit cards for students unless you have a co-signer or proof of independent income are supposed to reduce the number of bad credit cases amongst college students.
If you’re a student who has a credit card, what can you do to prevent bad debt and the effects it can bring? Check out these tips:
Avoid carrying a balance. To avoid debt build up and maintain good credit rating, completely pay off your balance. Don’t be happy with just making the minimum due payment. It can save you a great deal by not paying the rate and additional fees.
Read Full Article: Best Tips on Using Credit Cards for Students
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