Each year when school sessions start, credit card companies start hitting student mailboxes with multiple credit card offers. Unfortunately, many students accept these tempting offers, use the cards enthusiastically, and then find themselves - even before they graduate - way over their heads in debt.
While credit cards are helpful, using them wisely is important. Here are a few guidelines for students:
- Limit yourself to one credit card which you can use for emergencies.
- Pay cash whenever possible. A Sun Each ATM / Check Card can help. It offers the wide acceptance of a MasterCard, but draws on the funds in your checking account.
- Keep a low credit limit. This helps avoid the temptation to incur too much credit card debt.
- Never charge more than you can easily repay in 2 to 3 months. Finance charges over long periods are very costly. Making the minimum payment will keep you in debt.
- Use the calculators on our website to determine how long it will take to pay off credit cards or to save for a major purchase. Sun East offers various calculators to help plan for big decisions.
- Learn more about a Sun East MasterCard and how it could benefit you.
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