They Are All Over Campus: Student Credit Card Kiosks
They are all around campus right? These stands where they give you a frisbee or a water bottle if you sign up for a credit card. You sign up for one because it is the ultimate piece of plastic to have as a student.
But a lot of students fill out these forms without looking at the fine print in the terms and conditions of the card agreement. Be careful of signing up for just any card because you may be shooting yourself in the foot from the get go financially.
Check The Regular Credit Card APR
The person at the stand will tell you that the card you are signing up for has a 0 percent introductory rate. The students eat it up as if it were the 2nd coming of Christ. You can go shopping with your brand new credit card but when the intro APR expires your APR then adjusts to the regular rate which can be pretty hefty.
You’ll find these types of credit card “free gift” kiosks all over campus calling students out for free stuff if you sign up.
The only give you one choice: one credit card. It is much better to compare credit card rates of a number of credit cards online and look into the details of each card. The introductory APR and the ongoing APR is listed for each card along with additional details that will assist you in making the right decision during the credit card apply process.
Additional Perks Credit Cards May Offer
Having a huge variety to choose from with credit cards available for almost every type of need (0% into apr, low apr credit card, no annual fee, rewards, etc.) you’ll make better choices in terms of credit cards when you go to an online credit card comparison site.
In addition to the convenience that a credit card offers wherever you go, you may find that your credit card also offers additional benefits such as a rewards program or airline miles so you’ll be getting bonuses whenever you use your card.
Carrying Several Credit Cards?
To use these benefits strategically you can apply for more than one card and use specific cards for specific situations (one card for gas rewards and one card for airline miles). Save your credit card company contact info in your cell phone or keep it handy just in case your credit card gets stolen or becomes lost. Call the credit card company as soon as you can when something happens to your credit card. You most likely will not be charged for purchases not made by you. The company will issue a new credit card to you immediately.
Certain Credit Cards Have Annual Fees
There are also credit cards out there that charge yearly fees to its users. These types of credit cards that have those annual fees have certain long term benefits that differentiate themselves from other cards.
Most likely, as a college or university student you may be better off not have a card that intends to charge you an annual fee.
Stay Disciplined With Your Credit Cards
Having a credit card allows you the freedom to shop online, rent a car, reserve a hotel room and so much more. Once you apply for and receive your new credit card do not allow your spending to get out of control. You have got to stay disciplined in how much you spend and keep track of it.
Keeping a record of how much you are using you card each month is key because charges may add up and before you know it you will be unable to pay off the total balance that you owe.
Paying Your Credit Card Bill On Time
Your credit history is like a report card and if you pay your credit card bill late even one time it shows a negative record on your account. Remember that with one late payment (even one day late) your interest rate you have on your card can increase astronomically.
It is of utmost importance to make your credit card payment on time or much earlier if conceivable. Compare credit card rates among each and every student credit card and find the right card that will be the most beneficial to you.