Thinking About A Student Credit Card As A Symbol Of Your Independence

Category: Finance.

Headed to college?

Before you fill out that credit card application, there are certainly some things you want to keep in mind. Thinking about a student credit card as a symbol of your independence? CHOOSE THE RIGHT CARD! There are lots of different kinds of credit cards out there, and choosing the right one is essential to meeting your needs. The first step in applying for the student credit card to fit your needs is to choose the right card, of course. Take a look at some of the different cards you' ll be asked to choose from: Prepaid Cards.

Rewards Credit Cards. Secured Credit Cards. Airline Miles Credit Cards. Savings Account Credit Cards. Cash Back Credit Cards. Zero Percent APR Credit Cards.

It's best to find out a little about each before you make your selection. Balance Transfer Credit Cards. For example, why choose an airline miles rewards card if you never fly? READ THE FINE PRINT! Make your choice wisely so the student credit card company you choose is the right one for you. Once you' ve decided on a card that's right for you, the next task is to carefully read the fine print in the application. At the very least, you need to understand what your APR is for balance transfers, and normal purchase, cash advances, and you need to understand how it is computed, and how it will be added to your balance.

While this can be an undertaking of monumental proportions, do not depend on the card company to just" highlight" the information for you. You also need to be aware of any special fees surrounding late payments, and credit card, cash advances checks. Also, understand whether or not the card you' ll be carrying comes with any type of annual fee, as those can be a bit of a surprise each year if you' re not prepared. Moreover, make sure that you understand whether or not the company you' ve chosen has a grace period, and how that can affect you. START YOUR ENGINES. If you hate waiting, look for a card that comes with an instant online approval.

The last step in this process is to actually apply for the card itself. This means you' ll just have a few days until your card arrives, and by the time you log off the computer, you' ll know if you have an account, and what your credit limit is. If you must apply in one of the campus computer labs, be sure to clear your temporary internet files and your cookies when you' re done so others can' t access that information after you' ve logged off. Should you choose to apply online for a student credit card, be sure that you' re using a secured interent connection. While you' re filling out the actual application, be sure that you' re honest with the company. Applying for your first student credit card is a huge step to financial freedom.

Should they find out that you don' t make a hundred grand a year or that you' re not actually a brain surgeon, it could have serious repercussions. Following these steps may help in taking that first step.