College, finances and expenses, how will you cope, what will you do if you should have an emergency while you are in college, what line of credit can you use? Get and use a credit card while you are in college – this is the best financial answer. You will have access to the solutions you need, financial solutions.
You are going off to college, you have been saving up for a long time now you’re your tuition, your room, and for your meals but there are expenses you may have forgotten about. You should also be thinking about what you do between classes, after class, after school hours, on weekends, how you will get home, going to the store for needed daily supplies and food – where will all of this money come from? Consider getting a credit card to cover the many other expenses that you will need to succeed in college. Plan for the emergency funds that you may need when you – are stranded on your way to school, or on your way back home from school. There are other ‘emergencies’ that will arise also like; birthdays, holidays, buying books, buying additional clothes to meet your needs in changing weather, get a card for when your car breaks downs, when it needs tires, or when the inspection is due and you are a long way from your favorite mechanic.
You may also have emergencies that involve your need for medical attention when you away from home and in college.While the doctors and the hospitals will often charge your visit to your parents address, or your dorm room address, a major problem will arise when you go to the pharmacy and you are in need of getting a prescription. Your credit card will enable you to have the money to get the medicine you need with out having to wait days for the mail to come to your dorm room, with a letter containing money from your parents. Being sick is no fun, and not being get the medicine you need, your school work will suffer, you may even miss many days of school awaiting the money to get the medicine you need which also puts your grades in jeopardy.
You will need a credit card to buy your books each semester, as the price of books continually goes up and the resell value on your used books is not nearly enough to cover the expense of new books – (although it is nice to have some spending money when you resell your books!)Prices for books for each class that you enroll in can run from a minimum of forty dollars and up for each book, which doesn’t include lab fees, extra materials you may need in an art class, science class, or in a biology class. There are additional supplies such as lab coats, index cards, notebooks, binders, backpacks, poster boards, and formal report binders that you will need each semester.If you have a credit card, you will be able to get these needed supplies with both you and your parents being able to track your spending on school supplies.
Going home – how will you get there?
Is the college of your choice located more than fifty miles from your home? How will you be traveling back and forth on weekends, birthdays, and holidays?If you have a credit card, you will be able to reach your destination when you most need to get there fast and hassle free.If an emergency should arise and you are needed at home right away you will be able to hop on a bus, plane, in a taxi or rent a car to be there as needed.
Some of you reading this may say ‘ I can keep money in my room, apartment or in my purse’ for when I have emergencies that arise – but the fact is that when you are away at school, you really cannot trust many people, you don’t know them well at all and you don’t know what their financial needs are either. Who is coming in and out of your dorm room, the dorm areas are freely accessible, and if you are sharing an apartment, it is likely that you don’t know much about your roommate besides what they freely tell you. If your money should ‘disappear’ or simply put be ‘stolen’ you will be left with nothing but with a credit card you have the backing of your signature on every purchase that is made, and many have a photo ID right on the face of the card, making theft of your credit line / money virtually impossible.
Build your credit
Using a credit card responsibly, while you are in college, will build your personal credit history, which will give you additional opportunities in the future regarding purchasing a car, expanding your credit line and in obtaining additional credit cards as you grow older for gas stations and for department stores.As you build your credit using a credit card during your college terms, you will be rated higher on your credit report which will help you get additional school loans if you should choose to continue to even a higher education level! The offering of credit cards, credit lines and financial backing to college students is an easy to understand because you are responsible enough to be preparing for your future with a higher education, and these creditors realize this, offering you a credit line that will back your future in education and in life decisions.
Credit card incentives
When you apply and use your credit card regularly some credit cards offer frequent flyer miles, which is worth your time to check out and understand this process. Frequent flyer miles are the awarding of points every time you use your credit card in certain situations.Imagine this, just because you used your credit card to get home three times last semester you could have enough frequent flyer points to fly to Florida for spring break!That would be a great savings, and you could enjoy yourself knowing that your trip wasn’t as expensive as the person sitting next to you on the plane.
There are credit cards that pay you back for using their card with different types available (and some offering them all), such as, inexpensive insurance (travel), inexpensive ‘gifts’ that can be bought through the company only, and incentive cash back or award programs.Each credit card incentive does differ from the next, but it is well worth your while to use your card for purchases as the rewards can truly be useful in your lifestyle.
Extra protection
With many credit cards, purchasing a rental car, buying a plane ticket or in specialty franchise stores nationwide there are often discounts available for using your credit card for purchases.There are also credit protection plans available freely or with a small charge on purchases that you make with your credit card. Say for example you bought a new eighteen speed to use in your free time at college, which is great exercise and a good way to get to know the city inexpensively.You bought the bike using your credit card, brought it home and want to go for a ride when suddenly you realize that it doesn’t shift right making it impossible to ride. You try to take the bike back, but the dealer won’t accept it. You call the credit card company to complain about the dealer when you find out that there is a warranty on the item that you bought with your credit card.You have now discovered that your credit card has a consumer protection plan built in to your credit line, each plan differs from card company to card company you will find that these purchasing protection plans are well worth reading as you search for a card to meet your personal needs.
College and Credit Cards
You should have a credit card to ensure that your emergency needs are covered in cases of traveling, obtaining educational supplies and in medical situations. There are cards where your parents can even transfer you extra spending money through the credit card, if that type of situation is best for you.
Using a credit card will allow you to experience financial freedom while learning the responsibility of living on your own at college. Credit card incentives are one big reason to use your credit card for all of your purchases, giving your more for your money in the end. But the biggest reason for having a credit card, and using for your continued purchases, is the warranty and consumer protection that is available when using a credit card.
