What does Discover consider the top tips for managing student credit card debt?
Pay all of your bills on time each month. By paying on time, you’re showing the lender or creditor that you’ve got enough cash flow to cover your expenses. If you pay late and the creditor reports your late payment to the credit bureaus, it may damage your credit history, and lower your credit score. If possible, pay off your charges in full at the end of the month. Use your credit as it was intended: as a short-term loan. Become familiar with the payment terms of your credit card. If a larger expense like a car repair or holiday travel requires that you revolve a balance for a few months, set achievable goals to repay the debt as soon as your cash flow allows. Keep total charges well within your credit limit. Students should start building their credit history by using a credit card with a low credit limit. This can help them learn to use cards in a more controlled setting and, at the same time, start building their own credit histories. Take advantage of the useful tools credit card
