6 Credit Card Rules for College Students

According to the Education Data Initiative, a bachelor's degree at a public university costs the average student around $32,880 in loans. 

When you leave school with debt from student loans and credit cards, it can be hard to start out in the real world. People with credit card debt often don't know how credit works. Students often have the wrong ideas about credit.

People who took the survey were asked a series of questions to find out how much they knew about credit. They did well in some ways.

When asked what would happen if they paid their credit card bill late, 62.3% said they would have to pay a late fee. And almost 48% know that the longer they wait to pay their credit card bill, the more it will hurt their credit.

But the people who answered also didn't know much about other important things about credit. When asked what a credit score is based on, only 20.8% of people get the right answer, which is the risk that you won't pay back a loan.

You can get a student credit card while you're in college if you want to. You can choose from some great options. But remember that the Credit CARD Act of 2009 says that anyone under 21 must show they make enough money to pay for things they buy with a credit card. If not, you will need a co-signer.

When people in a survey were asked what they would want in a student credit card, a card with no annual fee was the most popular answer. College students don't need another expense, and many student cards don't have annual fees, which is good.

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