Top 30 Student Credit Cards Usage Tips

1. How you use your card now affects your financial future (credit score) – If you have a large balance that is maintained by only making the minimum payment, you’ll be considered a “credit risk” by the FICO (who sets the credit score criteria) and your credit score will go down. This affects buying a car (higher financing rates) and even insuring your car (higher financial risk = higher payments). Keep this in mind if you are racking up big bills without the cash to quickly pay them back. Read more about your credit score.
2. Stay within your credit limit to avoid penalties and reserve available credit for emergencies. Demonstrate that you have capacity, the ability to pay back yourdebt, by keeping your account balances less than 50% of your available credit.