College and University Student Jobs and College life
 Welcome to Real College Life
Looking for colleges & universities or student tips for success? We're your college survival guide.

Canadian College Student Credit Card: Looking for a Student Credit Card in Canada?

Tips for Canadian Students Considering Applying for a Free College Student Credit Card

Thinking about applying for a Canadian college student credit card? Credit cards can be helpful for building good credit in Canada, but they can also be a college or university student's worst enemy.

For many college students across Canada it's hard not to give in to what seems almost like free money with those free credit card applications all over campus. Too many students who give in to the templation use credit cards to satisfy impulse urges to purchase, without any plan for how to pay off their ever-growing credit card debt.

Wise college students will sign up for a student credit card soon after arriving at college or university, get a low maximum balance, use the college credit card only when it's necessary -- *and* pay off bills every month. This helps establish a good line of credit in Canada, an essential piece of every college student's future financial success.

Many college student credit card companies offer high interest rates (around 18%) which should make any student want to pay off their monthly bills as fast as possible.

Some college students master the art of buying stuff on credit and not paying for 60-90 days. Depending on how fast or slow the Canadian merchant places the credit receipt into their system it can be longer. Essentially, this is one way of getting an interest free student loan. Not recommended.

Other college students in Canada have been know to sign up for a student credit card and us it to purchase everything that strikes their fancy. When the limit is reached on one college credit card, the student then goes and signs up for a second and third and fourth "free" college credit card, only to max out those cards as well. This is extremely risky and not recommended.

Getting out of Canadian credit card debt is very difficult and no new college graduate wants to face the real world after graduation not only with student loans, but also credit card debt that's racking up faster than they can calculate.

A common college student credit card strategy is to simply pay the minimum monthly balance. While this is a common trend, it's not recommended because interest rates can be up to 20%. Why not just give all of your money to credit card companies now and get it over with! There are smarter ways to manage and save your money! Those college students who pay only monthly minimum balances on their student credit cards not only wind up paying hundreds or thousands of dollars in interest, but can also sometimes be assessed "over the limit" fees as well as get a negative mark on their credit report if a payment is missed. Bad. Bad. All bad.

Student credit cards can be excellent tools for college students who use them wisely, or who need them to get out of a one-time jam for purchasing something essential when there are absolutely no other sources of funds available, but knowing the dangers of student credit card debt and the repercussions of not making a monthly payment are essential for every college student *before* they sign up for their first credit card.

Related Reading: College Student Credit Cards

Visa Canada
MasterCard Canada
American Express Canada

You may have found this article by searching for any of the following:
best credit card for college student in Canada
college credit card Canada
college student credit card Canada

Email this to a friend


Networking: the Key to a Successful College Student Job Search
In today's economy, college student job seekers need an edge beyond their experience, education and specific industry and job-related skills, in order to find a great job after college or university graduation.

How to Pick the Right College or University
Need help figuring out which college or university to apply to in Canada or the US? Here's some sweet college pickin tips

College Student Job Interviews: Facing the Interview
It's a tough college student job market now days. You have to have additional skills to be successful. A little careful study and practice will give you and edge over other recent college or university graduates looking for that first *real* job.

Colleges and Universities in the US
A complete list of all of the colleges and universities in the United States.

College Credit Card: Looking for a Student Credit Card?
Tips for Students Considering Applying for a Free College Student Credit Card.
Advantages and Disadvantages of Student Credit Cards.


Home | Link to Us | Sitemap  
University and College Internet Marketing Company - Marketing to University Students

Real College Life is the college survival guide for College and University students. Find college and university student employment & jobs tips, learn how to live more earth friendly, become a better student, have fund and find student housing in Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho State Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Alberta British Columbia Manitoba New Brunswick Newfoundland and Labrador Northwest Territories Nova Scotia Nunavut Ontario Prince Edward Island Quebec Saskatchewan Yukon. Abbotsford BC Internet Marketing Social Media Web Design Company for small and medium businesses
College credit card college student credit card credit card for college student with bad credit college student credit card in Canada.Chilliwack & Fraser Vally Web Design Abbotsford Web Design Company Mac Web Hosting   Mac Website Builder

2010 Real College Life - Your site for College and University Student Academics, Study Tips, Jobs, Employment Tips, Student Credit Cards, Housing, Apartment Sublets & Subleases & Eco-friendly living in the USA & Canada
Vancover Internet Marketing Company: Social Media Agencies Canada