What School Don't Teach You
by: FINDcollegecards.com Staff

When I went to high school, I found myself learning a lot about things I never needed for the future. From learning about imaginary numbers in Algebra to cooking a blueberry pancake in cooking class, I really think high school didn’t teach me what I needed to know about personal finance and high school. Yes, I understand that when you’re in high school, personal finance sounds awfully boring but when you really think about it, money is what drives you to get a job and what makes you how you live. Like it or not, money drives your life.

 

If you’re a current high school student and you came across this article, I encourage you to take a few minutes out of your life and read this article; it may help you down the road when you apply for a credit card. If you think you know it all, you may be surprised on what you don’t know. Below are a few points on what you should comprehend when it comes to applying for a credit card in the future.

 

Pay off your bills on time
If you’re completely clueless when it comes to student credit cards or credit cards in general, you’ll want to be aware of the term APR. The term APR stands for annual percentage rate. This is the rate that will be applied to your unpaid balance. This means that if you pay your balance off in full every month, you won’t have to worry about this. The thing is when you start off with a credit card for the first time; you’ll find that credit cards have a high APR rate. This rate can be anywhere from ten to twenty percent. That’s a lot of interest you shouldn’t be paying!

 

Take advantage of the rewards

Most credit cards nowadays have a reward system. The only way you can take advantage of these rewards are to pay your bill off on time in full. As mentioned above, if you pay your bills in full, you won’t have any interest to worry about. Now, if you’re using your card with rewards, you’re going to get a reward for making a purchase. Now, that’s a great deal!

Limit your credit cards

Since you’ll be new to the credit card game, it will be tempting to apply for a ton of credit cards. Try and limit yourself to one, just so you can see how you use it. The more credit you have access to, the more you’ll want to use it all. Some people fall into the trap of spending all of their credit and treating it like fake money. Don’t fall into this trap; you’ll be hurting yourself in the long run.

 

If you can follow these three golden rules, you won’t have a problem with credit cards. The rule of thumb is to pay your bill off in time every time in full. If you can accomplish this simple task, you’ll be able to have a very healthy credit future.

Credit Report Scores
Below is a chart of credit report scores. Credit report scores are important when it comes to applying for a credit card. To find out what your credit report score is, please click on the link below.
Great Credit
750-850
Good Credit
660-749
Fair Credit
620-659
Poor Credit
350-619
No Credit
0
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