My Student Credit Card Adventure

And some practical advice too!

My first credit card?

I remember my college days when it seemed there was a credit card advertisement on practically every bulletin board on campus. The banks would travel to the college and set up application booths on registration day. Hundreds of students would apply for a credit card. As an enticement, we were offered freebies like T-shirts, water bottles, and key chains. So I took whatever they were handing out. You can't beat free. The next thing I knew, I had signed on the dotted line. It wasn't long before that little plastic card arrived in the mail. It was time to establish my credit history. I was off to the mall. Life was good!

Stuff happens?

I made my student credit card the solution to all my financial emergencies when I attended college. Needless to say there were plenty of them. There were tuition bills, school supplies, car repairs, and midnight pizzas to pay for. The old saying was true. "When they've got you, they've got you". That little piece of plastic bailed me out of more financial predicaments than I could count. I honestly don't know what I would have done without it. The student credit card "thing" was a pretty cool idea.

My day of reckoning?

The monthly statements arrived one after another. I had been in the habit of making the minimum payment and ignoring the bottom line. Not a good idea. All those credit card purchases left me with a pretty hefty balance. The finance charges were mind-boggling. It was time to take action. I started to allocate more of my monthly income toward my credit card bill and phased out frivolous purchases. My balance actually began to dwindle (Thank God). I developed a better understanding of what credit cards are intended to be. They're certainly not free money! Put simply, they're a convenient loan that has to be repaid.

A word to the wise?

When applying for a credit card, students need to consider the fees involved. Take a hard look at the finance charge, annual fee, and late payment fee. Shy away from cash advances if possible. Consider a low limit credit card. Do a comparison and search for competitive rates. Study your card agreement thoroughly. If you don't understand something, call customer service. Ask questions.

Set up a realistic budget and follow it closely. Avoid impulse shopping on your credit card. Try to use the card only in real emergencies. Try to pay your bill promptly and keep your finance charges to a minimum. This will help you to establish a good credit history.

You may also want to consider using a debit card. The money is deducted right out of your checking account. This way you can't spend more than you have.

Remember to approach credit cards sensibly. When used properly, they can be a real lifesaver!

Don Yacono is a Publisher and Webmaster at Credit Cards Made Easy .com

Visit his website at http://www.credit-cards-made-easy.com to view all the up to the minute credit card and financial news from around the world.

Visit now to apply online for the best low interest credit cards and payday loans.

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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/ousiv/idUSTRE4998QG20081011cid=1256538043ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNFXVRL4NG9ATlp5GAzGVirQl5H_Agimg src=http://news.google.com/news?imgefp=OChmPPyDSXAJimgurl=www.reuters.com/resources/r/%3Fm%3D02%26d%3D20081011%26t%3D2%26i%3D6341173%26w%3D192%26r%3D2008-10-11T011826Z_01_BTRE4991UEW00_RTROPTP_0_G7 width=80 height=58 alt= border=1brfont size=-2Reuters/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/ousiv/idUSTRE4998QG20081011cid=1256538043ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNFXVRL4NG9ATlp5GAzGVirQl5H_AgG7 vows to fight bcredit/b crunch but details sketchy/abrfont size=-1font color=#6f6f6fReutersnbsp;-/font nobr16 hours ago/nobr/fontbrfont size=-1By Mark Felsenthal and Sumeet Desai WASHINGTON (Reuters) - The world#39;s rich nations vowed on Friday to take all necessary steps to unfreeze bcredit/b markets b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.forbes.com/afxnewslimited/feeds/afx/2008/10/11/afx5539238.htmlcid=1256538043ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNFmpUDC7zgOFdyzf1aTEGP5kF9MaAINSTANT VIEW 3-Analyst reaction to G7 statement communique/a font size=-1 color=#6f6f6fnobrForbes/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/10/10/AR2008101003228.htmlcid=1256538043ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNGqIPKGg-eoyDjswF1ZRE8D86_cyQWorld Leaders Vow Concerted Action/a font size=-1 color=#6f6f6fnobrWashington Post/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256538043hl=ennobrall 43 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.dividend.com/blog/%3Fp%3D2144cid=1254860311ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNHzBs6oxrEpObbMiCoJXjeOh56Qewimg src=http://news.google.com/news?imgefp=n-iTckVtn80Jimgurl=www.dividend.com/blog/wp-content/uploads/storypics/cme.jpg width=80 height=60 alt= border=1brfont size=-2Dividend.com/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.californiaprogressreport.com/2008/10/state_controlle_2.htmlcid=1254860311ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNHAnEyELp80PaD9M8AciBX5VM9CRAState Controller Chiang to Treasury Secretary Paulson b.../b/abrfont size=-1font color=#6f6f6fCalifornia Progress Report,nbsp;CAnbsp;-/font nobr2 hours ago/nobr/fontbrfont size=-1However, while we continue to work through this crisis, I believe more needs to be done to increase investor confidence in the bcredit/b markets, b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.ajc.com/business/content/business/stories/2008/10/10/credit_trade_swaps.htmlcid=1254860311ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNFVpXwnaBij-umoa9Cdsbi1i2CI9QICE, 3 other firms team up to trade little-known securities/a font size=-1 color=#6f6f6fnobrAtlanta Journal Constitution/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.mondovisione.com/index.cfm%3Fsection%3Dnews%26action%3Ddetail%26id%3D77979cid=1254860311ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNF5sVLkYdUang_GAlP9CcyzxWzkegEurex Clearing Presents Central Clearing Solution For bCredit/b b.../b/a font size=-1 color=#6f6f6fnobrExchange News Direct/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://blogs.wsj.com/deals/2008/10/09/financials-got-you-down-cme-pitches-credit-default-swaps-the-safer-way/%3Fmod%3Dgooglenews_wsjcid=1254860311ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNH4orUSDbUYwnkHBFbJzbMulgPojwFinancials Got You Down? CME Pitches bCredit/b-Default Swaps the b.../b/a font size=-1 color=#6f6f6fnobrWall Street Journal Blogs/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.ft.com/cms/s/0/9ea2c5c4-96f5-11dd-8cc4-000077b07658.htmlcid=1254860311ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNGId3HARxMZMDch8K1kDqu6nIKipgnobrFinancial Times (subscription)/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1052652820081010cid=1254860311ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNGc7rfI0UEJfQ8OCrwMB0msyoF4JwnobrReuters/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254860311hl=ennobrall 90 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.mercurynews.com/vc/ci_10692136cid=1256292417ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNEziqpnSbfuZyf8gEaC_NQQuiaJvwTax bcredit/b extension gives huge boost to solar industry/abrfont size=-1font color=#6f6f6fSan Jose Mercury News,nbsp; USAnbsp;-/font nobr9 hours ago/nobr/fontbrfont size=-1By Matt Nauman In what promises to be a huge boost for Silicon Valley#39;s solar industry, the extension of the solar tax bcredit/b bundled into the recent $700 b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.pennlive.com/midstate/index.ssf/2008/10/text_of_bushs_remarks_today_on.htmlcid=1256488570ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNFD6zbHDufYSvUjguAx_a4qkWTmygimg src=http://news.google.com/news?imgefp=3YqMihqSPiwJimgurl=blog.pennlive.com/midstate_impact/2008/10/large_bush10.JPG width=80 height=54 alt= border=1brfont size=-2PennLive.com/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.foxnews.com/story/0,2933,436433,00.htmlcid=1256488570ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNF19JesxVX3dXMk_nr0jLPPXmL8lgTranscript: President Bush#39;s Radio Address/abrfont size=-1font color=#6f6f6fFOXNewsnbsp;-/font nobr33 minutes ago/nobr/fontbrfont size=-1The Fed has joined with central banks around the world to coordinate a cut in interest rates — a step that should help free up bcredit/b. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://ap.google.com/article/ALeqM5iBAo1yCOOLr02NJfYtgrYmyZQKxAD93NN7EO0cid=1256488570ei=4ePwSOvyMILg6AOD_I2-Bwusg=AFQjCNGaVOscjj7FKxPrbeB7nP_pR36n8gText of Bush#39;s remarks Friday on the economy/a font size=-1 color=#6f6f6fnobrThe Associated Press/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256488570hl=ennobrall 97 news articles/nobr/a/font/div/font/td/tr/table
credit - Google News

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