Credit Card Tips For New University Year
New University Year
A credit card is a loan, and debt needs to be repaid. If you have trouble paying back the debt that you have amounted on your credit card, you’ll find that you are paying more back in the long term.
Amassing debt on a credit card results in high-interest rates. These rates can cripple the limited amount of money that you have for the university year. Owning a credit card in university can be a fantastic way of learning about budgeting and personal finance.
If you can keep you purchases controlled, then you shouldn’t have too much trouble. Avoid falling into the trap of credit card debt by being responsible and accountable for what you are spending money on.
Benefits & Rewards
A credit card is a great way to improve your credit score. Most people starting their studies will have little or no credit history. Building a credit score will give you a significant advantage when you enter the world of employment. Many employers now carry out a search of your credit history before offering you a job. If you want to rent an apartment, you can be almost guaranteed that your landlord will want to see your credit score.
You can also build avail of different types of insurance which go with credit cards. Going on university trips is a big part of student life. Having the peace of mind that your credit card has travel and rental insurance is a major benefit.