How Important Credit Cards are for College Students?

by Dan Sullivan

Student life is no less than fantasy life. We all wonder about the charms it has.

How Important Credit Cards are for College Students?

Most of the time, students are broke throughout their academic lives. But, still the never-ending desires keep them active in covering-up their finances. Going to college, straight out of high school seems too enchanting. Many of the students wait for this golden time of their lives. A lot changes since you step out of high school and enter into your college lives. Many of these changes have a deep impact on our personalities. One major change occurs in the financial status. As, the stage is bigger, so the responsibilities are big too. These responsibilities are not merely concerned with personality change. But, now as grown-ups. Being adults, we are supposed to pay billsand most of the time, our college expenses. Considering this, it becomes a compulsion to have some reliable source of payment. At college level, students mostly think of ways by which they can pay their bills with great convenience. Since, this age is all based on technology. With technology, comes some awe-striking facilities. One of them is a credit card. At college level, when students need to pay up quite simply. What can be more useful than a student credit card? Many of the students, though, think of it as a useless riteof passage. They think of this because of lacking a stable monetary source. That is what prevents them from signing up for a credit card. But, in times, when you are out of town for academics. There is no way out but to way for yourself. It has become more of a necessity than mere choice. Many often find themselves stuck in between having a credit card or not having one. The major reason for this uncertainty is their lack of confidence. They think that without having a stable income source. If they would spend more than their expenses, it will result in their financial downfall. Yes, in other words, they think that using a credit card will make them broke at the end. For many of us, this acts up as a fear. At the same time, for others, it's mere illusion to keep yourselves away from gaining some true responsibility. So, what should be actually done? Whether college students should use credit cards or in order to cut out extra expenditures, having no credit card at all would be an extra strategy?

How Important Credit Cards are for College Students?
How Important Credit Cards are for College Students?

Well the answer varies, but if told generally, then it's a no. There is no problem in using a credit card. You can use the credit card for ease at the college level too. It will not cause any harm to the set monthly budget of yours. The only thing you need to keep in mind is "care". It means you need to be a little or more careful while using your card for the first time. This will make your first credit card experience an interesting one. Because paying through cash in this phase seems a bit old school. Why not turn to a smart choice? We will guide you how to manage your expenses while shifting to this mode of payment. Besides, why credit card at this level is a requisite?

What is the actual significance of a credit card?

Though a minor tool, it carries considerable significance in it. Why is it so important to keep a card in the first place? Well, there are some specific reasons attached to it.

A start for having bigger responsibilities

As you step out of high school into college. This alien world is different from your previous environment. You feel that your carefree days are going to end now. This gut feeling is cent percent right. Because, with college comes bigger responsibility. This responsibility not only deals with academics. But, on a major level, it prepares you for dealing with your financial responsibilities too. The graduation years will pass by and as soon as you step out of the college, you have to get ready for the various responsibilities. You will have to pay your bills, establish yourself, pay your rent and have to pay for other services too. All this will be learnt only if you aspire to. Paying in the conventional methods would not be enough. One major reason is because things will get a bit complex. The most dominant reason in order to possess a credit card in college lies in the fact of housing. In the US, landlords have opted for the policy of having a track record of credit card, whenever they rent a house. Hence, it becomes obligatory to have a card by this age. It also impacts your credit score. The longer your credit history will be, the more the credit score will be. This credit score will be later helpful for you in turning your plans into a reality.

Credit Cards are always worth it

Tired of paying through cash? This old routine of yours has become hectic for you too? Being in college means a hell of a lot of problems. Alongside, carrying out academic activities. As a student, you have to pay for notes. Buy new stuff. Online shopping also becomes a part of life. Paying all this through cash would get a bit trickier. So, having a credit card as your life-saver is the best solution. Using a credit card at all such times can save you from a number of problems. The most important of which is online fraud. The fraudulent activities and identity theft risks become lower by using it. A credit card is a safe way of payment. Let's explain to you this mode of safety. As the credit card gets registered on your name. Your specific details become a part of the bank's database at that very moment. These details are very specific. If by default, someone makes an attempt of a fraudulent purchase. The registered details will be matched with the fake ones as provided. In case, they don't match. You are out of suspicion of being the guilty one. This saves your account balance and you both from charges of any fraud.

Cards win Rewards

Having credit cards can be fun for you. Because with cards, you can not only make purchases. But, many of them offer you rewards with purchases. Yes, we are being honest. There are various offers attached with the purchases. Many of the credit cards offer daily based rewards. Many of the cards offer a cash reward on any purchase you make. Besides, the cash rewards, credit cards offer special students discounts on different items. If you are thinking of traveling to your grandparents this summer, get a credit card. Because, this will allow you to enjoy discounted fare rates. All this makes it easier for you to be on campus and enjoying every facility on the go.

Credit Card means safety all the time

Credit Card means safety all the time
Credit Card means safety all the time

We understand things are not the same for you. They have changed. Because, change is the only constant. You miss your family. Being with mom and dad back in your house was a different kind of life you enjoyed. Now there is another kind of life you have to live. With this new life, some new rules come. The foremost rule is to look forward to ways that ensure your security. Financial security is everyone's prioritywhenever we talk about how things are going to affect. There can be any emergency at any time. You might be needing money for your medical expense or any other mishap. Having direct access to money or your bank account is unlikely. So, what will be your choice in such a crucial hour? Obviously, nothing but a credit card. This will save you from all the panic building up in such situations otherwise. You can easily pay at moments marked by emergency. A credit card saves you from putting yourself into any further trouble by contacting your parents. This works as the instant problem solver for you.

Though keeping credit cards is more than fascinating being a college student. Still, there are a number of things you need to keep in mind. This will help you avoid any bad experiences.

Always make timely payments

Paying on time when it comes to card credit is too essential. Because, a payment late than 30 days will add negative points to the credit score. This can get too tricky for you when, later after graduation, you will be supposed to apply for a loan. It is therefore necessary to keep a track of payments. Before, it turns up as debt. Pay the due payments just in time. You can adopt certain steps for an easy payment. Always set a reminder of the date on which the payment is due. Not only this, but you can make online payments too. This will save you from the hassle of going and paying in person.

Watch out

Paying on time is just another thing. Always watch your balance. Because keeping your credit balance under 30% can get you in a lot of trouble. It can lead to more debt payment. This can make it difficult for you to apply for your future ventures.

So, keeping a student credit card is not that difficult at all. All you need is to be a bit careful towards the payments.Consequently things can get much easier for you in your college.

About Dan Sullivan

Dan Sullivan is a renowned professor and esteemed education writer with a passion for inspiring students and transforming the field of education. With a diverse background in academia and practical teaching experience, he has become a leading figure in educational research and pedagogy.

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