December 30, 2008
Is Plastic Is The New Cash?
By Student Credit Finance
The use of cash is beginning to fade away as plastic, in many forms such as college student credit cards, charge cards, and debit cards are taking over during these tough economic times. You have probably started to receive all those student credit card offers in the mail, or are seeing them on the college campuses wanting you to sign up. The end of high school and the beginning of college is a perfect time to start thinking about a college student credit card and what it can do for you.
Some of you are probably thinking, ya I can go on a shopping spree, by all those cd’s or games I have been doing without cause mom will not buy them for me. Wrong. That is not what it is all about. A student credit card used wisely can be the best tool every to start building your credit history and score. I know, it is time to think like an adult.
As a new college student you probably have no or very limited credit history. A student credit card can change that and get you on the way to a healthy credit history and score. First of all, you will never find it so easy to obtain a credit card as you will a college student credit card. The credit card companies realize you have little or no credit and are still willing to give you a change. They will look at your credit but will probably go ahead and give you that card any ways. They are actually looking for loyal customers. If they give you your first chance at a credit card you will probably be loyal to them and keep using there services.
You, however need to treat this newstudent credit card with care and respect. By making your payments on time every month you are building a good credit history. By using your new college student credit card as an emergency tool is also helping to build the credit. UPDATE. Further more, by not every going over about 40% of the allowed credit balance you are also busting your score. By using your credit card sparingly and for emergencies the chances of you not over charging and being able to pay off your credit card monthly bill most of the time will be huge in increasing your score and showing you simple have the responsibility to handle the credit.
This kind of behavior will in turn get the credit card companies to slowly increase your allowed credit. By simply continuing this type of behavior with your student credit card, when you have graduated and have that great job, you will be able to buy that new car with no problems what so every. They will not ask for a co-signer either cause you have already proven yourself.
So go ahead and get that first credit card BUT ONLY when you are educated and ready. Treat it well and it will treat you well. What you do today always affects what you can accomplish in the future. Insure your future is a great one.
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