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A college student's guide to credit

As a new student on campus, be prepared for the avalanche of credit card offers soon to fill your mailbox. If you don't have a credit card and are considering signing up, read on. Credit can be very slippery if not used properly, yet careful charging and paying helps establish a good credit reputation. Here are four rules to live by.

..............................................................................
 
1. Baby-step your way into credit card use.

Look for a card with no annual fee and a limit of no more than $500. Stay below your limit so you can pay off your balance each month. Check out what happened to this college grad who thought she was being cautious with her cards in college.

Find the best deal on student credit cards
Your credit card statement made simple
15 must-know credit card terms
Calculate the true cost of paying the minimum

 
2. Always be punctual.

Ditch the "better-late-than-never" attitude and always make it a point to pay on time.

Credit card penalties, fees get tougher
Fees, penalty rates charged by major credit card issuers
Credit card payment due date: You may have a choice
Credit domino effect: One late payment will cost you across the board

 
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3. Stay informed.

Ignorance isn't bliss when it comes to your finances. Know your rights and understand your credit card terms.

Read that tiny type in your credit card agreement
Disputing a credit card purchase
How to fight the smart way

 
4. Always be on guard.

It's amazing how quickly your card number can get stolen. Here are things to do to protect yourself against identity theft.

Be stingy with your Social Security number
Perishable credit card numbers take the fear out of Web shopping
14 tips to avoid identity theft

 
 
-- Posted: Aug. 26, 2004
     

 

 
 
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