How to Choose a Student Credit Card

School is expensive and the bank knows this. That is why they charge students and that is why you see them at the football game trying to get you to sign up for a card! I have that one! After six beers, that free towel might look pretty cool, but keep in mind, a shiny little card will follow shortly after in the mail! Be sure that you have the right card! Many will offer a flashy attractive reward program—but will also charge more of an interest if you carry a balance, but remember that no rewards program is worth the interest that you are paying, so it is best to find a low interest card. If you plan on consistently paying off your monthly balance, you will not be charged any interest as long as you do not take out any cash advances that is. Cash advances should be avoided if possible because once taken out, you will immediately be charged interest. Be aware that the bank does have the right to change your interest rates, but they have to notify you first, so be sure to check all your mail. Banks do make mistakes, so it is necessary to check your statements regularly. If you do see anything out of the ordinary, whether it be purchases you did not make or duplicate charges, be sure to contact the bank and ask them to investigate. If you like the security and ease of a credit card, remember that a debit card offers many of the same advantages, often times, without the unpleasant consequences. What are these consequences, well not only will you be paying more if you missed your payments, but also, it can be put on your files following you out of school and into the business life. Eventually hurting your chances at a loan, mortgage or even a job!

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