In the United States the average college student will get overwhelmed with numerous different credit offers. A credit history will begin to develop when you reach your 18th birthday, so be extremely careful with offers because it can be potentially beneficial or harmful for your entire life.

Your financial credit can have long-term effects. You need to be careful when filling out new credit card applications and be sure to keep a record of all of the student credit cards that you have signed up for. Lots of merchants will try to get you to apply for a credit card by offering lots of special deals. The free sign-up bonus you get with the credit card can end up costing you a lot if you don’t use the card with caution.

If you apply for students credit cards, you may find yourself in trouble because many credit card applications will lead to a lowered credit score even if the applications are not accepted. In addition, the bills may not be forwarded to your current address, leading to penalties and interest.

There are student credit cards available for many of the well known colleges that are imprinted with the college’s mascot or other school symbol. Responsibly used, they can be a way to develop a positive credit record and at the same time make it unnecessary for you to carry large amounts of money in your pocket at all times. Visa cards and master cards have broad acceptance, so they are generally the most useful ones to opt for. Chase Bank also offers “Platinum” student credit cards which have reduced financing rates for visa or master card.

Although credit cards generally do not offer the lowest percent financing rates, you can pay for your college tuition and other related expenses with them. As with any other financial matter, you will still need to read the fine print for yourself, and make sure that you understand all of the relevant terms, before committing yourself to any signed contracts.

Your credit history is important and may be reviewed by banks when you apply for a loan to buy a house or start or buy a business, as well as by future prospective employers and potential landlords. Your credit history will determine whether or not you are viewed as a financially responsible and stable person. One way to build your credit history is to use your student credit cards. It is important, however, to remember that any money you borrow must be paid back at some future date and will most likely be subject to some interest charges.

There are student credit cards available for many of the well known colleges that are imprinted with the college’s mascot or other school symbol. Responsibly used, college student Visa cards can be a way to develop a positive credit record and at the same time make it unnecessary for you to carry large amounts of money in your pocket at all times. Visa, Master and Chase Platinum student cards have broad acceptance, so they are generally the most useful ones to opt for. Chase Bank also offers “Platinum” student cards which have reduced financing rates for visa or master card.

- Angela Mercer

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