A Few Things Students Should Know About Credit Cards

Ahh...Adulthood, many people have been waiting years for just this moment. It's time to leave the nest, go to college and really make things happen. However, many of our young people don't realize the financial responsibilities involved in adulthood. Once times get a bit rough, many students will decide to apply for a student credit card account. Is this a good idea?

Generally, the answer is yes. Although unfortunate, it is hard to get by these days in the United States without a credit card account. Having one of these pieces of plastic tends to make things in life a lot easier. The key to this however is, apply for the right charge card and always utilize credit cards responsibly.

Applying for the right charge card is simple. First, consumers should look to see what their credit score is. This is because charge cards base approvals on the risk involved in loaning money to people. It is a good idea for people to know where they stand when it comes to their credit scores before shopping for a new charge card account.

Once you know your credit score, it's time to start comparing charge cards. There are many great credit card account comparison websites like JEMCreditCards.com or The-Card-Mart.com that make the comparison easy. Once Americans compare the offers, its time to fill out the application and get approved.

Not that the credit card has been approved, it will be coming in the mail soon. This is where it gets important. Remember, improper use of credit cards can lead to severe financial hardship including bankruptcy! Here are some tips to using credit cards properly:

Never spend more than 50% of the credit line: When people get approved for a new credit card, they will be given a credit line. This credit line is the amount of money the consumers will be able to charge to the credit card account. However, depleting this credit line entirely can show early signs of financial hardship and an increased risk to lenders. Keeping a credit card account's debt below 50% of the credit line will show financial responsibility and strength.

Always send payments at least 2 weeks in advance: I know what many people may be thinking. Why 2 weeks in advance when the mail only takes a few days. Well this is when you have to look at it from the banks point of view. Although processing your 1 payment may not take a lot of time at all, processing millions of payments is sure to take a while. Sending a payment 2 weeks in advance will allow adequate time for processing and ensure that your payment will never be looked at as late!