As good as the maps of college credit may be to help you build your credit, all it takes a few missteps, and you could find yourself on the head of debt and damage to your credit card which can take years. It is really easy, especially when you've just gotten your first credit card to get a credit card-happy and begins to load everything. Before you know it, your debt is out of control, and minimum payments are more than you can handle.
Here are five simple steps to help you manage your credit card debt and help keep your credit score intact.
1.Do not use credit cards to buy things that students can not afford. It seems that common sense, but this is where most people into trouble. This plasma TV or iPhone you'll never have to pay to feel suddenly easy to buy when you plastic. Here is the easiest way to avoid ending up in credit card problems: the case of an emergency situation, if he could not afford to pay in cash or by check, please do not download.
2.Do not use credit cards to college as a substitute student loans. federal student loans have low fixed interest rate and borrower benefits, which allow you to defer payments if they are unemployed or in precarious financial. the credit card companies continue to send the monthly bill, regardless of broken or working with you. Enjoy your federal student loans first to cover all school expenses such as books, lab fees, and meals, and not put $ 800 of textbooks in your credit card (unless you have the intend to pay immediately once you receive your check student loans).
3.Pay off your balance every month. If you follow rule # 1 and does not charge for something you do not have money, you should have no problems with it, unless you had to run to an unexpected load due to financial emergencies. In this case, if you can not pay the entire balance, pay as much as possible. Do not just be used to pay only the minimum, in: paying only the minimum each month, it could take years to pay off your balance, depending on the amount of debt accumulated.
4.Subscribe to e-mail or SMS. Some of the major card issuers now offer an automated email or SMS alerts to notify your current balance and payment due dates. If you're prone to miss the payment date, or go over your spending limit, use these alerts to ensure you are keeping your credit limit and make payments on time.
5.Put your credit card on the ice. If all else fails and you still find yourself reaching for that credit card when you drive by subway or infomercials up, here's a way to force the will of yourself (without cutting all your cards to the top): Stick your card in a large Tupperware container (a large bowl works best), fill the container with water and store in freezer. The next time you're tempted to use your card, you must either wait for them to thaw (this gives you time to rethink what you're about to spend money) or go after the block of ice with a hammer. Anyway, you have time to gather your thoughts, take a deep breath and wonder if time and effort worthwhile icebreaking.
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