10 Student Credit Card Tips for Summer

Published on May 24, 2007 3:22 PM EST

1. It may be tampting to accept the first "pre-approved" offer marketed to a college student but it pays to do some research. Choose the best student credit card for your needs.

2. Think about rewards. Student credit cards can earn cash back or reward points that can be spent for travel and entertainment.

3. Consider a card with a balance transfer APR offer if you are consolidating and transfering a balance from a higher interest card.

4. Decide whether low ongoing APR is important to you. It's best to pay off balances each month, but if that is not always possible, choose a student credit card that has a low interest rate.

5. To build a solid credit history as a student, you may want to keep your card for a while. Frequently applying for new credit card can have a negative effect on your credit score.

6. Use online resources to learn more about building a good credit history.

7. Examine your credit report on file with credit bureaus to make sure all your information is correct.

8. How can you improve your credit score? Some important factors include: paying bills on time, paying off your balances, and avoiding excessive inquiries into your credit report.

9. What will hurt your credit score? Delinquent payments, not paying off debt, and owning too many credit cards.

10. Take a summer job and accumulate some savings so that you'll be able to pay for books and other expenses in the fall.

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10 Student Credit Card Tips for Summer

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