If you are a college student and want to start building a secured financial future, taking a student credit card can help you. If you have a strong financial history, it can help you in many aspects, i.e. from renting a flat or buying a car or even on your next job application.
But before applying for a credit card, it is important to know how to use it correctly. So read the following to understand how to use a student credit card.
1. Spend That You Can Afford
Remember. Eventually, you have to pay back the balance on a certain date, so don’t overextend. If you overextend, you have to either pay a hefty amount of interest or struggle to make the payments, which is not good for your CIBIL score.
2. Take A Co-Signer Or Become An Authorised User
If you struggle to get a credit card for yourself because of no financial history, you can consider a co-signer. Co-signer also have to have a good CIBIL score. Or else you can be an authorized user of some other’s card.
3. Budgeting
Budgeting is a very important thing. You have to compare your expenses with your income before spending.
4. Credit Utilisation
It is recommended to use 30% of the whole credit card limit. So make expenses according to this.
5. Pay On Each Month
It is better to pay back the amount that you have used within your monthly billing cycle to avoid extra interest.
6. Use Credit Card Carefully
You have to remember that each time you use your credit card for payments, you also have to pay a hefty interest amount during payback. So use a credit card when it is necessary to use.
The Bajaj Finserv RBL Bank SuperCard is the power of a combination of four cards. You can use this card to buy things, booking cinema and flight tickets. This card can also be used to avail of interest-free loans, and you can use this card to withdraw cash online. With this card, you purchase things in EMI worth above 3,000. So this card is quite handy and can do work on 4 different cards.
