Credit cards, if not approached in a responsible manner, can really be the anchor that pulls your life down. Living in debt is a not fun thing to experience, and neither is not being able to pay for stuff. Having a credit card is a major responsibility that the majority of people unfortunately can’t handle. It shouldn’t surprise you that more than half of credit card owners are in debt. This is because they don’t think twice about the purchases they are making, but they make them anyway not knowing if they have the money to pay for it or not. Another thing that catches a lot of people are interest rates. Interest rates can really be a deal breaker in the credit industry, so don’t apply for a credit card if you’re not comfortable with the interest rates.
So what can you do? Well, first of all, if you are a credit user and you are part of the unfortunate majority who are in debt, you need to pay that debt off. Letting debt snowball is your fast ticket to a horrible lifestyle. Once you have your debt paid off, I suggest going to a zero percent credit card. Zero percent credit cards are credit cards with 0% APR for a given period of time. Some of the best zero percent credit cards can be found under Citi with their Simplicity card, Capital One and their Platinum Prestige Card, and Chase’s Slate Card. These cards often have low transfer fees, grace periods, and have fantastic rewards programs.
Speaking of rewards programs, Amazon Prime subscriptions are another thing that you might be interested in doing that might better suit your financial situation. If you make a lot of online purchases using your credit card, then you should definitely consider subscribing to Amazon’s premium membership program known as Amazon Prime. The best thing about this feature is that it is noticeably cheaper for students. Where a regular customer has to spend about $100 a year on Amazon Prime, which grants free two-day shopping on most online items as well as a plethora of movies and TV shows free for streaming, a student only has to pay about $40 a year; this also comes with a fantastic six-month free trial!
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