Chicago — If you’re reading this and you’re on your way to college, then you’ve most likely thought about starting your credit journey and getting a credit card. Not too long ago, I was in that same position and I want to help you now so that you don’t make the same mistakes I did.
Before getting a credit card, it’s so important to educate yourself on what credit is and what it means in regards to your life. Your credit score can determine so many life decisions like buying a car or leasing an apartment. I saw my credit card as free money and didn’t think about the repercussions of being in debt, but now that I’ve experienced that, I have a better understanding of what not to do.
You’ll then want to ask yourself the most important questions: What is the interest rate? Can you do balance transfers? Can you get cash back? What is the annual fee? It’s vital to do your research on these questions, especially if you are young and working part-time. You don’t want to be a freshman in college paying a credit card and also having to pay outrageous interest fees. Look into credit cards that have benefits for college students.
This guest post is in partnership with True Star Media.