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| Disadvantages of Credit Cards | Self control
Like everything else about being a student, you must be able to train self-control. If you have a tendency to overspend your finances, you will certainly do so with a credit card. It is simple to lose way of your spending, and to consider of things as free, while using a credit card. It is merely when you get your monthly bill that you shriek in horror. And since you almost certainly will not have the money to pay it off right then and there, the bill will add up until the balance is huge. At that point, the interest kicks in, and you are paying for your own lack of forethought. Keep track of your expenses. Pretend you really paid cash, and earmark the amount in your bank account, and do not spend it. That way, when the bill comes, you know in advance how much it is, and you have already put the money aside to pay for it.
Interest
Interest rates on credit cards are astronomically high, frequently between 16-18%. If you are taking a balance, the interest costs are going to seem like throwing good money into the trash. Credit cards will be beneficial for you, if you learn not to abuse their power. Spend within your means, and do not take a balance.
Fees
Some cards have annual fees. They provide good service and higher limits in return, but do not get these unless you need them. There are plenty of free ones out there, as well.
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