If you are in college, there are a lot of things you probably worry about. Besides getting good grades, hanging out with the right people, and graduating in a timely manner, there are also many financial decisions to think about as well. But what about the best credit cards for students? College is pretty expensive on its own and that usually doesn’t take into consideration the cost of living as well as daily expenses. But, what about after college? You would hope to move out on your own with a new degree and start living life as a grown up. In order to do this they need to have their finances in order. Certain parts of the financial world do not grade people on how well they did in college or how much money they are making when they get out. The fact is, you might apply for a credit card or a loan at some point after college. If you do not have any credit history, or a poor credit score, then they will be knocking at your door again.
Your Credit Score
The one thing lenders and banks look at when considering someone for a loan or credit card, is your credit history. In other words, how well they have paid off their debts in the past, which could be one of the best credit cards for students that you used back in college. It doesn’t matter how much these debts were, it is just based on whether they were paid back on time. If you need a loan and have no credit history, then you will need a cosigner. The most simple and easiest way to build credit is with one of the best credit cards for students. It is also the fastest and easiest way to destroy your credit if they are not used responsible. This brings up the question “How will get approved for a credit card with no credit history?”
Credit Card Review: Capital One Journey Student Credit Card
Best Credit Cards For Students
By being a college student, you have the ability to apply for a student credit card, even though you do not have a credit history. There are plenty of options to choose from and some of the best credit cards for students even come with rewards for the money that is spent on them. Now, before you start thinking “There’s no way I am going to get a credit card while away at college” look. You probably already have your parents send you money on a regular basis to buy the things that you need. You probably have a debit card (or your credit card) that you use to buy these things. Why not spend the same money that they were going to spend anyway on one of the best credit cards for students, and learn some financial responsibility in the process. Student credit cards don’t come with a high spending limit, so they cannot get in too much trouble. If you check it like you check your bank account for the money that is sent to you, then you should be able to stay on top of it and pay it off each month. The only thing that changes is that you are building their credit, while spending money (which you were going to anyway). Still having trouble with your with the concept of having your own credit card? Then just pay for your tuition or textbooks with one of the best credit cards for college students and put it away until next semester. Building credit is not about how much you spend, it all about paying back whatever you do spend, not matter how much it is.
It’s Never to Early to Start Building Credit with a Student Credit Card
By talking with people you trust about finances early and letting them know that your credit score is something that will be with you forever, just like your college degree, it will be saving you and you a lot of time and money in the future. Getting approved for a loan in the future will depend on your credit history, and how low the interest rate will be will also depend on how good your credit score is. By utilizing one of the best credit card for students while you are in college, for the purpose of building your credit history, you will not only be on your own in the working world when you graduate, you will be financially independent as well.