Having a credit card offers a lot more than a convenient way to pay for things. Having a credit card allows you to begin building your credit history, and with timely payments, you can work your way to having a good credit score.
Having a high credit score will end up saving you a lot of money later on in life. Financial Institutions use your credit score to determine whether they will give you a loan and for what rate they'll give it to you. It can also affect whether you can rent an apartment or how much you'll end up paying for a car loan.
Having a small credit history will limit your financial opporunities later in life, while having a good extensive history will open doors. You should begin building your credit score as soon as you possibly can.
Your credit score is based on the length of your credit history and how well you've paid off credit in the past. To establish good credit, you'll want to use your student credit card for purchases you know you can pay off. Make all your payments on time and never go over your credit limit.
Your first credit card will have a lasting impact on your credit. You should use your first credit card to bulid good habits of paying back credit on time and in full.
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