Starting a new life in college is scary. Especially for those coming from high school. Have you ever thought of signing up for a credit card? There are benefits to credit cards in school. I got my credit card with discover because they have a lot of benefits. I can get more cashback as a student. The reason for me getting a credit card was to grow my credit. No one tells you about credit until it’s too late.

Growing up, I never understood money. It wasn’t until my last two semesters that I finally got a lesson. My older sister helped me understand money and told me about the importance of credit cards. I didn’t know that having good credit is necessary to get things. I am not going get into my political views, which are against credit. Why do we need a score to purchase necessities? The benefits of credit cards vary depending on who you get one with.

The best benefit of a credit card is that you have money to spend. This can also be a downside, if you cannot handle money. Let me break this down for younger people.

  • You can buy what you need if you don’t have cash or money in your checking account
  • You credit card acts as a backup if you need it
  • When you purchase something with your credit card, you can put it back

When you purchase anything with your credit card, you will be paying it off at the same time. This means when you take, you give. It sounds like a game, but you are growing your credit. Credit cards are for you to grow your credit.

A downside of having a credit card is that you can lose money. When you sign up for a credit card, you are linking your bank account to your card. You will be paying on it monthly. Let’s say you have $50 in your checking account, but your parents are helping you pay your credit card. Your monthly bill is $55, and you don’t have enough. Your credit card will get paid because it comes from your bank automatically. You will have a negative balance. The point of this is to understand that your checking account can overdraft if you don’t have the money. It sucks, but that is any bank and credit card. This is why it’s good to get a job on campus. It will help you pay your credit card and keep it at a low monthly payment.

If you are scared, you shouldn’t be. This is a way for you to get a car when the time comes. If you are growing your credit, you will less likely need a co-sign on anything. This helps a lot students who have no family to help them. The more you pay off your credit, the more they raise your limit. Keeping your amount at a low monthly payment helps you more than you think. It’s all about consistency.

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Your typical college student who can relate to everyone. I am a non-meat eater, spirits believer, and a lover.