Sink Your Nose into Books, Not Debt: The Student Credit Card

Anyone who has been to college knows how stressful it can be financially. Tuition costs continue to rise and you're barely surviving on your macaroni and cheese. If you are looking to build your credit with a student credit card, be very aware of the pros and cons of owning one of these plastics.

Here are some tips for looking, applying and owning a student credit card that you may want to study before making any decisions.

You have to be Smart

If you've made it into college, chances are pretty good that you already have a good head on your shoulders, but when it comes to finances you may still be new to paying bills. If you are looking for a student credit card, look carefully because many credit card companies offer credit cards to students with high interest rates and finance charges. Find a card that has the minimum balance (usually $200-300 is good to start off) and the minimum monthly payment fits your income. Cards such as Capital One and Citi are good for beginner credit card users.

Balance Is Key to Everything

One thing most colleges don't teach is how to figure your expenses and unfortunately most young people have to figure things out on their own. Compile a list of all your expenses and compare it to how much income you earn or get (from parents, part time job, grants, scholarships, etc.). Make sure that you would have enough money to cover the cost of a student credit card along with other expenses.

Looking Ahead

Remember that a credit card will help establish your credit score, which can affect your life in the future such as insurance, employment, mortgage loans and so forth. You want to make sure that lines of credit such as a student credit card will not get you into financial trouble. Start off on the right foot.

College is full of new and exciting experiences, but along with the excitement comes the reality of costs and expenses. If you are thinking about getting a student credit card, let it be the opportunity to open a door of credit for you, not slam it in your face. Play it smart, look at your income and expenses realistically and think of the future. This is advice that will help you ace your credit score.

BUTLER TOWNSHIP, Ohio -- Police in Butler Township said they are looking for a person responsible in a local theft. Investigators said someone stole a car last month and a woman is using the victim’s credit cards and checks.

A woman's car is broken into, her wallet is stolen and the crooks rack up $1,000 on her credit cards in just two hours. Their crime is all caught on tape.

So you're at the gas station filling up your vehicle, and without warning the gas pump shuts off.

Knox County staff are prohibited from making "split purchases" and personal charges on county-issued credit cards, but that's what an audit uncovered recently.

ESCANABA — People who own property in Delta County will soon be able to use credit cards to pay their property taxes. The service is available, without fees charged to the county, through Government Payment Service Inc. (GPS), said Delta County Treasurer Sandy Buckland.

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