Getting a credit card when you are in college could be a very good thing and can be a bad thing at the same time you should decide and decide on the basis what you believe you are financially stable and are responsible with money that is not yours that you will have to pay back in the future if in the case you should get a credit card. There are factors to consider when looking for your first credit card or not. There many benefits and disadvantages to getting in credit card when you are in college and most of them have to do with your circumstance.
First off, you will have to show to the credit card company you can pay for the line of credit you might spend. Another is that you have a job, or you have the money to pay them if anything goes south. It is a great advantage to have co-signer the first, of many benefits you can attain by bucking by getting in credit card when you’re a college is that by the time you are about one year of age you will build up a credit history and if your credit history is good, and you can apply for a zero interest credit card. However, if you get a credit card and spend too much of money that you do not have then you can lose a lot of money to the interest rates and possibly lose your parents a lot of money should they be the co-signers.
Some of the factors that you should consider when thinking about getting your first credit card is the interest rate, benefits, fees, and the contract agreement. It should be very careful that your credit card company doesn’t have hidden fees. You should read the contract very slowly and carefully and get the advice of someone who has gone with the bank and parents. One of the things about credit cards is that they can give you the ability to spend $5000 in a matter of a couple of hours which for most good can be very bad. So as long as a responsible a credit card is a great idea. However, if you are not, you really want to avoid at all costs.
Probably, the next thing you can get from getting in credit card when you are in college you build a good credit history so when you go out of the world as long as your credit history has been almost perfect you can apply for a zero interest credit card which can be the best thing for saving money in the future. So long as you’re responsible with a credit card than it is a great idea. However, if you have a tendency to spend too much money then you really want to avoid it.