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
irrespective of 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
lower, the college student credit card debt cannot rise to the levels it does for other credit cards. However,
college student credit card debt is an even bigger menace because a lot of students are already in debt due to the
loan they have taken for their education. If they pass out of college with college student credit card debt, they
will have to payback not just the loan they taken for studies but also their college student credit card debt.
Since most of the college students are inexperienced in the usage of credit cards, they can easily fall prey to
what we call as ‘college student credit card debt’. In fact, college student credit card debt is one reason why the
credit card suppliers keep a lower credit limit on college student credit cards. The solution for avoiding college
student credit card debt is similar to what it is for avoidance of any type of credit card debt. So, the first
thing for avoiding college student credit card debt is 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 supplier when your
credit card bill arrives. So don’t treat credit card separate from hard cash. Avoid overspending e.g. do not buy
things just because they are on sale, sales keep coming and going and there are always better offers each time; buy
only those things that you really need. A good thing to do is to prepare your monthly budget and follow it
religiously. Never budge from your budget. Another very important preventive measure for avoiding college student
credit card debt is to avoid going for 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
recipe for getting into a college student credit card debt. This is how college student credit card debt builds up.
One credit card is more than enough for any student.
College student credit card is really meant to be treated like a training ground for learning
more about credit cards. It should not be make an instrument of debt (college student credit card debt).
Credit in Minutes Tip #1
Stay on top of your credit report. Most credit reports contain errors. Make sure you check your credit report
every year (you get one free credit report every twelve months) and if there are errors make sure to challenge them
with the reporting credit agency. Credit agencies are required to investigate each and every challenge that gets
Credit in Minutes Tip
Just because you qualify for all of those credit cards does not mean you should get them. A person with too many
credit cards looks sketchy in the eyes of a potential creditor. Think of it this way: if a person is financially
stable does he or she need ten different credit cards? Wouldn’t just one or two suffice?
Credit in Minutes Tip
The best way to raise your credit score is to make all of your payments on time. It sounds too simple to be
true, but that’s all there really is to it. Staying out of debt and/or making all of your debt payments on time
will keep your score up where it should be.