College Student Credit Card Debt

 

 

 

 

 

Student-Credit-Cards-300x298

 

 

 

College Student Credit Card Debt

 

Credit card debt doesn’t shy away from anyone who doesn’t want to shy away from it. It treats everyone equally whether the person is a seasoned professional or just a college student. So college student credit card debt isn’t uncommon either. Since the credit limit on college student credit cards is much, much lower, the college student credit card debt cannot go to the levels it does for other credit card holders. However, college student credit card debt is an even bigger menace because a lot of students are already in debt due to student loans they have taken out for education. Once they graduate from college they will have to payback not just student loans they have taken for studies but also their college student credit card debt.

AchieveLending.com - Last Minute Student Loan

 

Since most of the college students are inexperienced in credit card usage, they can easily fall prey to what we call college student credit card debt. In fact, college student credit card debt is the main reason why credit card companies keep a lower credit limit but usually higher interest rates on college student credit cards. The solution for avoiding credit card debt in college most obvious is not to get credit cards. If you must, the first thing to understand the concept that credit card is not free money and that whatever you pay-for using your credit card has to be paid back to the credit card company when your credit card bill arrives. So your credit card is the same as hard cash when the bill is due. Avoid overspending e.g. do not buy things just because they are on sale, sales keep come and go and there are always better offers each time; buy only those things that you really need not just want. A good thing to do is to come up with a monthly budget and follow it religiously. Remember as hard as it is FOLLOW your budget. Another very important way to avoid extra debt in college don’t get a second credit card. Some students have a tendency to go for multiple credit cards just because the credit limit on college student credit cards is very low. However, this is a perfect reason not to get a second student credit card you will just add more debt you will have to pay off later. This is how college student credit card debt builds up. One credit card is more than enough for any college student.

 

College student credit cards really meant to be treated like a training ground for learning more about credit cards and your credit. It should not be make an instrument of debt  that you learn the hard way.

Bowflex.com

 

 

email
Category: Credit Cards

Leave a Reply