Whether or not you have thought about this, very soon you are going to leave this school and go out there into the world and live as a self supporting adult.  Unless, of course, you become a boomerang.  In any event, the information below will be useful for you in avoiding some of the problems that can arise when you have a credit card.

Handy!

Credit Availability:

Your credit availability will depend on the following considerations:

• Age. You must be 18 to obtain a credit card (unless you have a cosigner).  
• Income. You must have an income or assets.  
• Amount. The amount must be realistic, based on your income and any credit you already have.  
• Purpose. It should be for a good reason, such as a student loan.

Costs of Credit:

The credit application or contract will disclose the terms and conditions for the credit card use. The following terms and conditions will effect the total cost of credit:

Credit Card Responsibilities:

With your first purchase on a credit card, you have entered into a legal agreement with the credit card company. You then must understand and abide by the terms and conditions of the agreement. Some other responsibilities are:

• keep your cards with you or in a safe place  
• do not give your credit card number to friends  
• before signing receipts, verify for accuracy  
• destroy all carbon copies  
• keep all receipts to check against the billing statement  
• inform the credit card company immediately if you lose your credit card  
• become familiar with the consumer credit laws that protect you. A mini-lesson titled Women and Credit Laws will give you information about the key provisions

Protect Your Student Credit Record :

• Pay bills promptly to avoid late fees.
• Keep track of your charges.
• Do not exceed your Credit Limit.
• Always avoid Over-limit Fees.
• Report any change of address prior to moving, this way you will receive your bills right away

Using Student Credit Cards to Build "good credit"
TIPS:

1. Create a BUDGET, and stick to that BUDGET. You know how much money you are going to earn each month, so create a BUDGET according to your KNOWN income and always know exactly what you PLAN to charge on your credit card each month. Then, stick to that plan!

2. Use your student credit on a regular basis, every month, TO MAKE SMALL, PLANNED PURCHASES. Then, MOST IMPORTANTLY, pay off your entire balance each month.

3. Instead of writing checks, use your student credit card when possible, as credit transactions get reported to the credit bureaus, checks do not. Again, use your credit card only when it fits in to the PLAN you have in sticking to your BUDGET. A few examples of these reoccurring expenses are your:

-Monthly telephone bills
-Groceries
-Subscriptions
-Precriptions
-Utility Bills

**Many companies allow you to sign up for online bill pay, where your credit card will be charged on the same day of each month. 

4. Pay your entire balance 7 days BEFORE the due date on your bill.

5. Your goal is to get a student credit card in your "own name" and make the account look like it is being "used," but not "over-used." When you do so, on a consistent basis, your credit score will rise as your debt ratio will be low while your usage will be low. Also, your payment history will be consistent and on time... both of which will raise your credit score over time.

6. Common mistakes you should try to avoid include: -Impulse Buys (where you randomly purchase items you have not budgeted or planned on).
- Overspending.
-Losing track of your statements.

7. Always be aware of "FEES" that come with your credit card.  Depending on the credit card, "fees" are sometime charged to the card holder, the most common being an annual fee that is charged to you for using the card. Another type of fee is a LATE FEE, which is charged to your account when your are LATE in making a payment... which is just another reason to pay your bill 7 days before the due date.
-Your goal here is to get a card in your own name and make the account look active. Doing so consistently will make your credit report look better. Obviously, you want to make sure that you pay on time while you are activating your account.

Check Register

Checks

A. Student Apt 2a Zippy Estates Zippyville NY  12561 1/2 845 256 5555 DATE______________________   101     PAY TO THE  ORDER OF _________________________________________ $ ______________     ___________________________________________________________ DOLLARS 1st Bank of Zippyville 1 Zippy Lane Zippyville, NY  12561 1/2 FOR ___________________________   ______________________________     95912429          4756442038       0101 MoneyInstructor.com

thanks for all your efforts!