| With the plastic era upon us, student credit cards have | | | | Pay dues monthly |
| become a fact of college life. Students can no longer | | | | Never exceed credit limit |
| do without a credit card. Many credit card companies | | | | Avoid over-limit fee |
| set up stalls within the college campus during the first | | | | If you default and do not pay off your charges, a |
| semester to lure students. Just like the ordinary card, | | | | credit report statement that contains details of your |
| student credit cards carry a credit limit, a grace period, | | | | delinquency will be issued by a credit-reporting agency. |
| an annual fee and overdue charges. | | | | Any legitimate business can access this credit report in |
| When applying for a credit card, every student must | | | | the future. But without your prior approval, student |
| remember that he or she is laying the foundation of his | | | | credit card creditors, employers and insurers cannot |
| creditworthiness. The financial reputation thus | | | | get these reports. Negative information can stay on in |
| established will influence future transactions, like an | | | | your report for 7 years and bankruptcy can stay till 10 |
| apartment rental, insurance, car loans etc. Any future | | | | years. If ever the debt against your student credit card |
| cards you acquire will be offered on the basis of your | | | | gets out of control, contact the issuer and work out a |
| reliability as ascertained by these records. | | | | modified payment plan whereby you will be able to |
| Before you apply for a student credit card, check out | | | | pay manageable and reduced amounts. |
| the annual fee, the interest charge, the transaction fee | | | | A majority of students use their student credit cards |
| and any other charges levied. Credit terms vary | | | | to 'swipe' almost anything without forethought, and |
| according to the issuer. Consider whether you will be | | | | thereby end up still paying off their credit card debts |
| paying off your dues monthly or whether you will pay | | | | well into their 30s. Undoubtedly, student credit cards |
| off purchases over time. To protect your student | | | | make life easy for the cautious student who shops |
| credit record, take care to use the card properly by: | | | | intelligently and manages money carefully. |
| Keep track of all charges | | | | |