By Lisa Archer-Jones
Getting your first credit card as a student is fun. However the fun gradually gets converted to debt. Students are at a right age and frame of mind to understand how to deal with their finances. Unfortunately they are not learning how to remain debt free. They are on the contrary getting into debt with their credit cards. Student credit cards are actually meant to be used only for educational purposes. But the students use them for goodies and other luxuries and get into debt.
If you are a student and have got into debt or are on the verge of getting into debt then it is time for caution. Here is precious to keep you away from debt or obtain debt relief. Choose your path to financial freedom.
The fist thing is do not fall for a credit solution. Don't merely sign up to get a free gift. You must search for a good credit card rather than the credit card finding you. Before signing go through the terms and conditions and understand them. One card is good enough to meet most of your needs. You need not go for an additional credit card. Do not even think in terms of 3 to 4 cards.
Exercise caution while flashing your card. You must know what your paying ability is. Buy only what you can pay for. The fastest way to build your debt is to buy beyond your means. Also make it a point to make the entire payment. If you do not pay the balance in full interest charges and late fees start growing.
Never go in for a cash advance. Taking such advances will get you into debt faster. Always stay within your credit limit. Do not use more than 30 to 40 percent of your credit limit. And lastly never give your card to your friends. These rules will give you substantial debt relief.
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