SO what’s the one thing your parents tell you not to do when you go to college? Besides getting pregnant and besides driving drunk. Yea! Don’t get a credit card. I mean it seems like common sense right. Don’t spend what you don’t have. But I mean it’s just so tempting… You basically have free money, what’s so bad about spending a little bit of it now. I mean you’ll pay it back next pay check, right? Wrong. That’s exactly why people with that same mentality end up in debt. Credit card debt has to be the most careless way to end up in debt. So, don’t do it to yourself.
If you want a credit card to go to that spring break trip… you don’t need one. If you want a credit card to get yourself out of some quick debt then you definitely don’t need one.
What should I put on my credit card?
Now a good reason to get a credit card is so you can build your credit now. If you’re looking into grad school after college or you know you don’t want to live at home with your parents after college, chances are you may need to take out some loans. Which means you’ll need good credit. When you’re in college a credit card is a perfect way to get good credit and it’s also a perfect way to ruin your credit. So, make sure you’re getting one for the right reasons.
Now, starting off with zero credit makes it hard to even get a credit card but it’s not impossible. There are many credit cards you can get with no credit such as: Journey Student Rewards from Capital One, Discover it Student Cash Back, Capital One Quicksilver One, Open Sky Secured Credit Visa Card, etc. (the rest will posted on my site).
Now once you actually get the credit card don’t overwhelm yourself about what to spend and what not to spend and how to keep up with it. Start slow and just use it for gas and pay it back and slowly because that simple transaction will build your credit. The next step may be groceries or another small fee that you’re sure you can back timely. These simple charges will get your credit where it needs to be within a couple years.
Think ahead to when you get a car or you have to sign the lease for your apartment. You’re going to need credit so start now and you won’t be delayed in the future when you need to start putting things in your name rather than your parents.
Prepare now for your future and always remember Know money, No problems.