Have a New reputation Card? Sorry to Hear That

So you're on campus, and you consideration a table with "SomeBank Usa" written on the side. What's this all about, you may ask? Well, there is a huge prestige debt problem in America currently (families close to 00 in debt on average; total debt of over 0 Billion!) and associates smell fresh meat in the form of college students. Colleges and Universities are cashing in by forming alliances with these card companies. Naive and none-the-wiser students are racking up debt at alarming rates.

Dammit, they are being deliberately taken benefit of at the hands of money-hungry prestige card companies! Here's how to hold your own in this financial war:

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Treat prestige cards like sugar sweets: they're nice to have, but too much use can cause severe damage. This is because though there are good reasons for using prestige cards, slow-witted use of them can lead to a world of trouble. Establishing good prestige is prominent because one day it will help you when you want to buy a house or a nice car. Further, in case of emergencies, you will want to be sure that a strong prestige history will allow you to weather a financial storm. If you have bad prestige before you even graduate, associates and debt will have you in a choke-hold. Think about if prestige debt is beyond doubt worth it. Remember, prestige cards do not equal free money... Just the opposite: the more you use prestige cards, the more you'll have to pay later in the form of fees and interest rates.

There are a estimate of things to keep in mind with prestige cards that are of the Utmost importance. First is the art of spending, i.e. When and when not to use it. You want to use your prestige card for necessities that you can pay off soon. Purchases add up, and before you know it you're on you second post-graduation job and you're still paying for that saturday night study group's Chinese dinner. The only time you are allowed to use your prestige card for something a minuscule costly is in the case of emergencies (this does not comprise a last-minute gift nor similar expenses).

Credit card associates thrive off of slow-witted use of the card. This is because of high interest rates. Especially true for college students, finance charges can reach 20% and up. Concentrate that with late fees and each year fees (read: check out the fine print!) and you could pay more than 1000 bucks for a 200 dollar ipod mini... No joke. Result these guidelines and you'll be fine, don't, and you'll find yourself struggling to flee debt's headlock.

Don't use prestige cards for non-essential items such as fast foods or gifts (even gifts for yourself). Pay your bills...on time! Make sure you know what the rates and fees are for your card. Make it a point to not use it...put it under the mattress or wrap it when in you wallet or purse Pay your bills on time! Whenever you make a purchase with it, at about 20 per cent to the price to get an idea of how much you might end up paying If you're having issue following these rules, just Throw It Away
We are aware that using your prestige card may make you feel like you're part of the "real world" (whatever that is) and raise your self-esteem...you've always seen your parents use them to buy cool stuff and pay later, you see the hot citizen on tv use them while throwing caution to the wind, - you even see your friends using them, and you want to join in on the fun...

...until your whole first paycheck goes to paying it off. Then you comprehend what an idiotic thing it is to go on a shopping spree with a prestige card. Lesson learned: Tv is tv, just because your parents are more experienced doesn't mean they know everything, and let your friends make bad decisions (i.e., putting all things on Their prestige card) for you.

If you're worried about school expenses, look determined at school and government loans. These have lower interest rates and the best don't have to be paid back until you graduate, and even then it shouldn't be so bad on a monthly basis compared to prestige cards.

Be the smart one on campus and be a sharp prestige card user now so you will feel much, Much good about yourself (and your wallet) five years from now...trust us.

by Vincent St. James

Have a New reputation Card? Sorry to Hear That

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