6 Reasons Why College Students Should Have Credit Cards
When in college, money is one of the basic responsibilities that every student must uphold. According to recent surveys, it has been found that more than half of college students carry about four or more credit cards with them.
However, because they lack the proper method on how to use them, they soon end up with more college debt after graduation. That tends to be the thing with credit cards — at one point you’re excited about the things you are going to buy and the next thing you know; interest rates and missed payments.
The purpose of this article is to help students get out of such financial situation. With the right strategy, credit cards can be a blessing for the following reasons:
Paying Your Bills
Of course you have to pay your bills — that’s one of the reasons why you would want to keep a credit card. While you’re not doing any physical payments, you are accepting fees on credit.
With a credit card you can even tend to your landlords, mortgage payments and many more expenses that everyday working adults deal with.
Get Acquainted With Your Credit Card Company
There probably isn’t a better time than at college to get to know your credit card company. You can work out how to handle your monetary needs before you transcend into the demanding life of adulthood. You can learn to have less in debt by the time you graduate.
The more good relations you establish with that company, the better off you will be financially in the future.
It Can Help You During Your Time Of Great Need
You will have to pay for later, but the one thing credit cards get done right is being useful during emergency situations. Situations such as having a car breakdown or have had some kind of an accident.
These are genuine incidents that parents would be happy to accept knowing that their children are safe from harm. Just be sure not to abuse emergency uses of your credit for trivial reasons.
Carrying Cash Is No Longer A Problem
It may be risky to carry around a digital piece of plastic around in your pocket, but at least it isn’t as spacious. Usually students would carry all of their parents’ investments or loans in their wallets or pouches, which makes it easier for crooks to notice and make off with.
Credit cards provide a relief of that experience as you only have a lightweight product that consists all of your money in the vault. This makes it easier and more comfortable to walk around in.
You Can Earn Rewards
Aside from the interest rates that probably get attached with every slide, your credit card can also reward you with points, rewards or cash back. This works especially on student credit cards after you have read the terms of redemption. This is the best solution for those who pay their full balances each month.
It is advised that you go shopping for those items that have great rates and no taxes. For those students who love to travel, you can even earn airline miles. However, it will require plenty of credit to make this possible.
Buying books from the campus bookstore is a thing of the past — online is where all the textbook purchasing takes place. You can even buy yourself some new clothes but only when you really need it or when you have plenty of savings.
It is strictly advised that you avoid any more online purchases done by debit cards as it is more prone to cyber hacks and thefts.
Edward Warner is a copywriter working for Writing Essay, a company that provides essay help UK. Edward has also worked on ad copies for local commercials and print ads.