So you’re about to head off to school and you’re looking for a way to pay for many of the expenses that come along with becoming an undergraduate. One option that likely comes to mind is a credit card. However, you should take certain factors into consideration before applying for a card.

Start With One, Then Work Your Way Up

Assuming your next credit card will be your first, it may be best to secure just one at the start of your college career. You may be a fiscally responsible student, but it’s advised you learn to use your card responsibly first, raise your credit score and then worry about getting another one if needed.

Spend For Emergencies, Needs Only

Also, while it may be tempting to start using your credit card to pay for concert tickets, gas for road trips with friends and other types of entertainment and fun, this type of spending can get out of hand quickly. Instead, focus solely on buying only things you need, such as books for class, and saving some of your credit limit for emergencies.

Paying On Time, In Full Important

The best way to define “responsible credit card use” is basically to pay off all balances in full and on time. Failing to do so can lead to a drop in credit scores, which could hinder younger consumers’ – such as students – ability to secure other financing options down the line.

Applying for car and home loans may seem far away for you. But, you should realize that creating issues with your credit while in your late teens and early 20s will likely affect you when you want to apply for other lines of credit down the line.