Student credit cards are a new concept and this is why many students do not actually know how to use them effectively and so they fall in debt. It is essential that as a student, you should educate yourself on how a credit card and its related fees work so that you can make wise financial decisions. This will also enable you to protect yourself from racking up of the bill, which will turn out to be a burden to pay off in the later stages of your life.
Generally, college students like you will be lacking credit history and so the interest rates and charges on your plastic money will be higher. You can follow different methods to avoid this higher rate of interest when you are applying for student credit cards. When two individuals can co-own a card, both of you can manage the payments together. If the individual, with whom you are signing with already has a good credit history, it will be of great help in lowering the interest rates to be paid. Do you know what is 6 months 0% APR?
This means that you will not be charged any interest on your plastic money for the following six months. Generally, this form of offers are offered by credit card companies to attract more and more students. But, when you are offered with this sort of discount, do not forget to read carefully about the rate of interest that will be charged at the end of six months. Even though, the initial cost of college life will be higher like you will have to incur on purchase of books, new sets of attires to be worn to your college, etc… and once these tasks are completed and you will settle the expenses you face will be lesser. So, when there is no interest in the first six months it will be of great help to you.
Having a card will be highly helpful since you can easily spend on finding an apartment, applying for a telephone line, etc… Also, landlords will come forward to offer their property on rent to you as when you have a plastic money, they believe that you will be able to meet the monthly rental expenses without any problem. You can feel yourself as a respectable person.
When a reliable company offering these types of cards is found, you can also get reward credit cards from them. So, find a reliable company to get the best student or reward credit card and lead a happy life.