College is an exciting time and a time to gain your independence. It’s all about new beginnings; from getting into your dream college to getting your first student credit cards. Credit cards are fun, easy ways to make your college life easier but they are also a huge responsibility and a great way to learn money and finance management.

With so many different student credit cards out there, it can be tough to make a decision and choose a credit card. After a while, you might start to feel like they’re all more or less the same. But actually, even subtle differences between credit cards can impact your finances, so it pays to get it right.

Understand Your Credit Report
Your credit score is used by landlords, lenders and employers to gauge your ability to pay your bills and manage your finances. If you don’t have any credit at all, you’re basically a blank slate. Building your credit is a way to build your financial reputation – and your future. Make sure the information on your credit report is accurate. Don’t wait until later to address inaccurate information.

Understanding Credit Card Balances
When you get approved for that very first student credit card, don’t forget to read the fine print. It’s better to start with a smaller line of credit at a lower rate than a big line of credit at rates that will keep you in debt. Shop around to ensure that the interest rate on your purchases won’t prove to be a barrier between you and a balanced budget each month.

Using Your Credit Card Wisely
One of the golden rules for the correct management of credit cards is to pay off or clear bills on time as this can help in building a positive credit history. It’s one of the main factors determining credit scores; so prioritise paying your bills by its due date.

As with so many things in life, there’s no one right or wrong way. But if you take the time to understand your financial situation and the options available, you’ll feel much more confident in choosing the correct student credit cards.

We at Aspire Credit Union invite you to check our student visa credit card that offers lowest-interest rate and a lower spending limit than our other cards.

Try it today!