Credit for College

Unless you know for sure that you will be paying it off in full at the end of the month, avoid those cards that charge an excessively high interest rate.  Since you likely have little or no credit history know that credit card issuers are taking a chance on you. Because of this fact, interest rates on practically any credit card you get is going to be higher than usual. With already having  a credit history, your parents for instance, would be the ones receiving the usual interest rate.

Are you ready to be financially responsible with your college student credit cards? Be honest with yourself.  A secured card might be the better place to start if you’re not sure.  A bank or credit union can issue you a card with a limit. Your limit being the amount of your deposit. In this way you can learn about how late fees can add up and interest also. This is a lesson that is quickly learned and you will remember it for the rest of your life, that is the good news.