Credit cards may be seen in a positive and/or negative light to some people. Those people who have enjoyed using credit cards enjoy the convenience and not to mention the rewards (cash back, miles, points) that they receive. Others may not have enjoyed the usage from overspending on their card. If you are already attending or planning to attend college you most likely will be needing a credit card. There are several things you should consider when choosing a credit card.
Look for low APR credit cards when applying for one. If it is your first time getting a credit card, look for an APR (Annual Percentage Rate) lower than 17%. If you end up getting a higher rate on your credit card make sure you are paying off your bill each month to avoid high interest rate charges. Focus on the Annual Percentage Rate (APR) and compare that among the many choices of credit cards available to you.
Remember that every credit card is slightly different and some may have varying credit card fees. Each credit card has late payment fees that can also increase your APR. Other cards have also have annual fees for having the card.. Make sure you focus on what fees each credit card offer has along with the APR attached to it.
Best Credit Card Rewards:
The credit card rewards offered may be an excellent bonus. Specific credit cards may give you points to exchange for items, money back for each purchase or airline miles which you can later exchange for free flights. Remember that these benefits can add up nicely when you already need to make purchases on your card. With credit cards that offer points as a reward they can add up with each use of the card and over time you can exchange them for items inside their catalog. You can redeem your points when you have racked up enough on your card by going through their online catalog.
Make sure that you scrutinize each card in detail. Spend some time thinking about what you are planning to use your credit card for and what you want in a card. Everything becomes a lot easier when you know what type of credit card you are looking for. When you actually apply for your credit card you will do so with confidence.
University and college students have a lot of choices when it comes to credit cards. When applying for a new card doing a little comparison shopping for cards helps quite a bit. Be weary of your spending when using credit cards and you will start to build up your credit over time.