Is it a good idea to start establishing credit as a college student?

I am about to be a sophomore in college. I am not a big spender, but every once in a while I%26#039;ll make a purchase that either requires a credit card or I would rather not pay with check or cash. I have been told it is a good idea to start establishing credit now for the future. Would this be a smart decision? What kind of card would be best for me, providing I would rarely use it and only for purchases in which a credit card is necessary? What kind of rates should I be looking for? As a college student, I get offers every day in the mail, but I%26#039;m not sure what would work best for me. Thanks for your help!

Is it a good idea to start establishing credit as a college student?credit card debt

It is the perfect time to build credit, especially now when you%26#039;re a college student, because in a couple of years when you graduate college, you%26#039;ll need to be in a position to make in on your own. Going to school is one thing, getting a job is another, and taking care of yourself in this world%26#039;s another.

What you really need to understand is that credit should be used as a tool to help improve the quality of life. Some people rely on it way too much and end up using it as a crutch. Some examples of how credit can directly affect your lifestyle would be trying to find a place to live, getting decent transportation when public transportation won%26#039;t do, and even some jobs require a good credit history.

Now as for the kind of card that you need. Keep in mind that it should be one without fees, whether it%26#039;s a processing fee or an annual feel. Citi and Chase both offer very good student cards. I posted links to these below.

Also, another way to establish credit is to by reporting all your monthly payments with PRBC. They%26#039;re a credit bureau that specializes in %26quot;alternative credit%26quot; by reporting regular monthly payments that doesn%26#039;t show on your report such as rent, utilities, cell phone, insurance, etc. It%26#039;s free to join, and they also have a billpay service that automatically reports payments you make through the service with PRBC. I posted a link to their website as well, which I strongly suggest you check out!!!

I hope that this answer helps,

Good luck!

Is it a good idea to start establishing credit as a college student?

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so long as you pay off balance every month and don%26#039;t get over your head in debt. that can affect your credit for years, including car insurance costs|||Its a good idea... However, dont make the same mistakes I did. When I got drunk, I would blow through $200 a night. I racked up huge credit card debt and I am now paying the price.... I was a finance major as well, go figure. Most banks offer cards for students will relatively low interest rates.. They are your best bet..... Wachovia, Commerce, etc.|||Establishing credit is good.A secured credit card from your current bank is a good idea, it will help establish your credit with little worries. It is basically like a debit card. However much you put on the credit card is the ammount that you can spend.|||It%26#039;s a good idea to get a credit card to start establishing your credit history. Be careful not to get into too much debt - a lot of young people make that mistake.

Look for a good interest rate. 10% is good.

Don%26#039;t get a card with annual fees.

Pay it on time. Always pay more than the minimum.

You%26#039;re going to want to keep this card as long as you can.

The older the credit card (in good standing) the better it looks on your credit report. Cancelling a credit card in good standing, is like throwing away a good report card.

And do research! You can never stop educating yourself about finances. Check bankrate.com to compare credit cards.

Good luck!|||I disagree with most people on this one. Stay away from CC%26#039;s when in college. If you need to use a CC for purchases get a debit card from your bank. Establishing credit is not as important as completely staying out of debt. CC%26#039;s are a trap that most if not all college students fall into. I know, I was one of them.

The truth is that most 80% of college students will graduate heavily in CC debt. People who are as poor as college students tend to lean on their credit. Couple that with little to no life experience and that spells BIG profits for CC companies.

Live like no one else. Don%26#039;t get CC%26#039;s! You will thank me later.|||credit is one of the few things in life where the more you use, the more you get.

most of the credit card companies offer special student cards like the one I%26#039;ve linked to below.

make very sure you pay the bill on time and get started building you credit history. you%26#039;ll be glad you did.|||Yes, being a college student is probably the best time to start building credit. It is easier to get a credit card while your a student because lenders target college students. I got my first credit card when I was a college student and now I have excellent credit. I recommend you pay your bills in full every month because the interest will probably be high. The Chase flexible student rewards card is a good choice.|||As the name suggests, a student credit card is specially designed for students and is very different from your regular credit card. Because it may be the first time for college students to apply for a credit card, most credit card companies designed their student credit cards to be a form of secured credit cards.

It will help a student to avoid accumulating high amounts of debt because of reckless spending. If you need groceries, or that recommended book but you don%26#039;t have the money for it, then it may be time for you to use your student credit card. It is good if you start learning good financial habits from your student life itself. Don%26#039;t use the card to pay for everything and anything. Use it judicially or it will land you in a debt to repay after the college finishes.

It is not unusual to find the representatives of credit card companies promoting student credit card in college campuses. However, finding a right card will take much more than contacting the representative of credit card company. Develop a habit of shopping around and getting the best deal out there. Though the interest rates on student credit cards are relatively low, they also offer a low credit amount. If used judicially student credit card can become the perfect means to build a credit history and jumpstart your financial wellbeing. Apply online for a best student credit card at: http://www.credit-card-gallery.com/Stude...