 |
first credit card |
first credit card if you look at it that way11/24/2007 Most people will wait until they have a stable job after college before they apply for their first credit card. Although this seems like a great idea it might actually be a mistake. Thanks for visiting and finding my article. What follows is information that I have pulled together from many different sources. I hope you find it both interesting and helpful. Many companies now offer a first credit card to college students. They send out mass mailings to students currently in college offering them a credit card with a reasonable limit on it i couldn't agree more. Some college students jump on this opportunity and before long they have their first credit card in their wallet or purse. Others don’t see the value in accepting the card since they don’t have a steady income generally speaking. Credit card companies often offer this type of first credit card deal to college students because they believe that the money is secure. They hold the view that if the child doesn’t pay the debt than the parent will. Although this is often the case sometimes it’s not and the child can find themselves finishing college with an already substantial debt courtesy of their first credit card to start off. If the college student can resist the temptation to use the credit card foolishly than it’s worth applying for and receiving that first credit card. The reason is that most credit card companies and banks will not give you credit unless you have credit without warning. If you wait until you’ve finished college before applying for a first credit card than you’ll have to prove your credit worthiness. This can be difficult if you’ve never had a credit card, loan or car payment most of all. Although many college students are carrying a debt in student loans unfortunately this isn’t recognized as debt by credit bureaus. Therefore it’s wise to have built up a good credit history by applying for a first credit card when you’re presented with such an offer at the same time. If you do receive a first credit card while in college use it very wisely. This means making payments on time and not using the card up to its limit. If you do charge the card to its limit you might find that your minimum monthly payments are being applied mainly to interest charges. This can take years to pay off now let's explore. Also don’t purchase items that aren’t essential. If you cannot pay the balance off each month than you shouldn’t be using the card to buy anything. Charge only things that you know you can pay for immediately once the bill arrives now i'm not advocating that. A first credit card is the beginning step towards a lifetime of good credit. Apply for a low interest credit card and be very careful how and when you use it. The card is a reflection of you and not your parents so recognize the responsibility that goes with it all in all. We have come to the end of my informational article. It's now your job to take this information and do something with it. Good luck and thanks for visiting. |
 |
Recent first credit card related posts:true credit report if you think about it balance transfer offer all of a sudden consumer credit card debt in the beginning credit cards for one thing offshore credit card although it is true debt consolidation companies in addition |
Categoriesbanking Related Blog Postsfashion i couldn't agree more |
|
|
 |