Student Credit Cards: Credit card is one of the most frequently used payment methods today. Both in normal shopping and online shopping; Thanks to its advantages such as being practical, not requiring carrying cash and offering certain payment periods, the rate of credit card usage is increasing day by day. Especially with the developing technology, the increase in shopping from e-commerce sites and the expansion of the target audience of internet users create a prediction that the use of credit cards will increase even more in the coming period.
The population between the ages of 18 and 25, which has a large share in online shopping, is generally made up of students and this audience does not have a regular income yet. Most students need a credit card to meet their needs such as school shopping, shopping and technology, clothing and socialization required to continue vital activities. As a Voucherix blog, in this article, we examined the advantages of using credit cards as a student and compiled the things to consider when using credit cards.
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What are the Advantages of Student Credit Cards?
- During their student years, most young people have to earn enough money to meet their school expenses and basic needs. Many students also study in different cities away from their families. This; it brings along payments such as house rent, house shopping and bills. Student credit cards provide a great advantage for students to make their payments easily when money flow is required.
- It can be difficult to pay large amounts of money during the student period. Student credit cards offer highly functional and easy-to-pay solutions in this regard. Since student cards are mostly limited, payment amounts are more easily covered. Thus, students do not have difficulty paying their card debts.
- Banks organize periodic campaigns for student credit cards prepared for students. Since these campaigns are prepared by taking student needs into consideration, young people who follow the campaigns can benefit from the advantages.
- Installment payment is a very advantageous option especially for students. Students can buy the products they need in installments from their student credit cards and pay in regular installments every month without breaking their budget plans.
- In some cases, as our ancestors say, the account at home may not fit the market and the money that is thought to be managed by the end of the month may end sooner due to extra payments or needs. When such a situation is encountered, you can meet your needs by shopping with a credit card.
What Should You Pay Attention To When Using Student Credit Cards?
We are not perfect. Messing up is a part of learning. Making up for those mistakes should be your priority. And being educated on why is credit repair important is a helpful tool.
- Although the limits of student credit cards are low, you should not think that you will not pay that money when using your credit card, and you should always consider your credit card debt payments while planning your budget.
- Although the credit card installment option is a great advantage, it means that you have a certain amount of payment each month. In other words, if you have the installment you have already paid while shopping with credit card, you should take this into account and calculate your fixed credit card debt that you have to pay each month before making a second installment purchase.
- Paying only the minimum amount when paying your credit card debt means that your credit card debt accumulates and reaches a higher amount in the following months. For this reason, you should avoid paying the minimum amount in a row while paying your card debt. Otherwise, the remaining debts may accumulate and make it more difficult to pay in the future.
- Choosing the credit card statement date close to the period when you regularly receive money means that you will have enough money for your credit card payment.
- Paying your credit card debt without exceeding the due date ensures that your credit rating does not decrease and you develop regular payment habits during your student period. Thus, when you start your business life and when your income rises, you can manage your budget much more easily.
- If you have difficulty in keeping track of your credit card debt, you can give an automatic payment order and have the entire or minimum payment amount withdrawn from your account on the due date.