Student Credit Cards: How to Smartly Use Them

Not very many people are agreeable to students getting access to credit cards. Many believe that these young adults still do not have the financial literacy and discipline to manage their finances well.

But this is not necessarily true to all college or university students. There may be those who are irresponsible, but there are also those who are.

When college or university students apply for credit cards, the primary purpose is for their educational needs. There is the need for books and tuition fees that can greatly be eased with the help of credit facilities, such as student credit cards or loans.

However, it’s also true and it can not be denied that when students get access to credit cards, there is an immense risk that they will be tempted to use the plastic not only for their school needs, but also for things that they want. Sometimes, they give good reason for it, and say that they will only do it once, or twice; that things are under control. In fairness, some are in control. Unfortunately, some also fail.

Hence, it is very important to continually warn and remind these students about the dangers of irresponsible use of student credit cards.

Here’s a list of some things students should never buy, charge, or pay for using their credit cards.

Clothes

Sometimes, students see nice blouses, jeans, dresses, or even shoes, and they want to buy it, not because they need it, but because it has taken his/her fancy. Maybe their friends are wearing the same style. Trends, styles, fads, and fashion appeals to a persons’ vanity, which, when unbridled, can often lead someone to excessive debt because of irresponsible spending.

Gadgets

The latest gadgets such as iPhone or other mobile phones, game consoles, and watches – these can be very tempting to people with credit cards. One can, for example, desire the newer model of a mobile phone, even if he does not have the cash to pay for it. If the desire for an upgrade gets out of hand, then he buys the gadget and charges it to his credit card, then the problem begins.

Dining Out

This can be very costly, and this normally happens when one hangs out with an influential group of friends, like in cases where a low income student hangs out with financially-well-off students. Three things can happen: one, he leaves the group during meal time and rejoins them later; two he joins them but spend more than what he can actually afford; or three, stay and not eat anything. The same scenario is true if one is in an expensive relationship with the opposite sex. Paying for someone’s meal one or twice is okay. But to do it regularly can be a heavy burden, just because of “love”. In these scenarios, students who have student credit cards usually resort to “swiping” their credit cards. Unfortunately, in a months’ time, he will have to pay for everything he charged in his account, plus interest.

This is also true when a student goes out to party on Friday nights. Drinks can be very expensive. 

There’s one common factor among the things mentioned above: they are all not necessary. This means the student can do without them, and he’ll still live comfortably, debt-free, hence with peace of mind.

College students, especially those who are still struggling to make ends meet, can learn so much about this adage: To live simply for a better future, in relation to everything that you own materially: “use it up, wear it out, and make it do, or do without”.

Debts should be avoided as much as possible. But since there are things that can only be accessed and realized with the help and use of credit, then the best advice is for students to use credit wisely and responsibly.

Learning about financial literacy has to start somewhere, and learning about it while one is young is best. To have a credit card  is not a bad thing; it only becomes a problem when it is used irresponsibly. To avoid irresponsible use of credit cards, students should educate themselves as much as possible about how to manage their finances well, and apply what they’ve learned.

Siena Lombardi is a web publisher for AccessRx.com, a safe and secure facilitator for medications such as Viagra, Cialis and Levitra online. At AccessRx.com’s blog, we cover everything from health to pharmaceutical news, such as the piece on 5 Sex Enhancing Foods for men.

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