Often there is the chance to finally be the first time credit card when we are attending college. Many credit card companies target the college crowd with appealing credit card offers. You may not have the best offers for low interest rate credit cards, or even those coveted zero percent credit cards, but it is a great opportunity to secure an instant credit card before entering the "real world" after graduation.
Many people wait until after graduation, and they have secured a job before they apply for credit. Although it may seem to be a wise decision to wait, maybe it's not so smart after all. The main reason for this is that the students their parents to co-sign and the lending institution provides loan based on the parents' credit need. If a student waits until after graduation and landing their first job, they will not have enough credit ranking to qualify.
Also, students should not be able to pay for their fees because parents typically the co-signers are registered for their son or daughter, the financial institution is confident that the parents pay the bill. So, by applying for and getting a credit card while still in school, winning both the students and the bank! There is a big disadvantage for financial support, while still in school: It is the temptation of debt, because the access is "so convenient". But if the students can use their credit card wisely, you can enjoy the comfort, and comes out with a building a credit score of their own at the same time. It will be much easier, approved the first auto loan, or even get financial support for a home mortgage loan after graduation.
If a student can apply for VISA card and then, with self-control, while still in school, they have a much better chance of access to future credit needs of the study than those who do not take advantage of this option while still in the school are. It's really a wise thing to do to build some credit history before graduation.
Note, however, that you are willing to pay your expenses in full each billing period. Also, do not try to run, be the limit on the card, you will pay a harder 'row to hoe "when the bill comes through them in full. Additionally, you should yield to this temptation, and you only make the minimum payment, You will be placing most of these payments on the interest each month., it is taking longer to pay out of balance, and this could jeopardize your credit rating on the line.
To avoid this potential pitfall, do not buy any items that are not absolutely necessary. Try to remember that if you can not afford to pay the bill in full when it comes due each month, you can not afford to make the purchase themselves. They just want your credit card to make necessary purchases. Remember, you have the card for one reason only: to establish a credit rating, which will be there after graduation.
If you stay true to this fact then, have after studying with a good credit history, you can look in your trading higher interest credit card for one of those 0 APR cards and have a great opportunity there. You will be able to effectively use lower rates and thus reduce the rate of interest you. Based on your current credit card
By understanding the real reason why it is a good idea to get a credit card while still to use in school, and then in the position of having a good credit score for the best credit card search services and get a 0 Interest Credit card later, is a direct reflection on you in the eyes of the financial world. And to be faithful, why did the first time credit card in the first place, will show you that you are responsible and can be trusted....
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