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Grabbing your first credit card personally or with the help of a cosigner is always a feeling but the real task lies in managing credit card debt as a college student and doing it so well to avoid extra financial problems and penalties for you and your consigner.

Having a good credit history and a score is one thing that makes students walk shoulder high in times of financial distress to use their cards for emergencies. But how many students actually have such good records? How many are able to implement good management strategies with their cards?

Records show that more than average student credit card bearers have at least $1,000 or more in monthly balance. The problem is credit card debt can quickly strike through the ceiling with the slightest form of poor management and that will have you dealing with financial stress after college.

Notwithstanding, there are a few amazing strategies to employ and succeed in managing credit card debt as a college student like a pro. That is what this article is all about. So make sure you stick to the end.

Strategies for Managing Credit Card Debt as a College Student

  • Do not Carry your Credit Card Everywhere.

You see, most students can’t avoid spending money when it is already in their pocket or wallet. And credit card is just the same as that. The temptation to pull it out and make nonessential expenses arise more often when you carry it along to places such as entertainment nights, movies, shopping for clothes, etc.

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To overcome this problem and save yourself from future financial stress, know where and where not to carry your card. Ask yourself, ‘Do I really have any essential expenses to make over there’ If not, drop it at home.

  • Use Credit Card as Emergency fund only

Yes, another great strategy is to budget yourself well enough so as to use the credit card when the situation is an unexpected essential one such as health problems, or accidents that would probably use your emergency fund if you have one. So in that case, the credit card becomes your emergency fund ONLY

  • Always Pay More than Minimum

Meeting your monthly minimum payment is good but it will be better if you can pay extra than the minimum to cut down on the principal. Anytime you pay more than the minimum monthly bill, your principal is reduced and subsequent interest on the principal reduces as well.

That is a very quick way to clear off your credit card balance and be safe. With that, you’re building a good credit history which will be of great benefit to you.

  • Find Easy Ways To Make Extra Income

To find an extra cushion for your credit card and hence manage credit card debt perfectly well as a college student, do extra side hustles on or off campus. Look for part-time jobs and side hustles for college students and make extra bucks in your leisure time.

  • Seek Financial Education
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Take advantage of financial literacy resources such as workshops, and financial literacy courses most of which are available online to gain knowledge about credit, debt management, and personal finance.

Ask your teachers or professors in the finance department how to manage your credit card debt and general debt management.

  • Have a budget and track Your Expenses

Create a budget to track all income and expenses including credit card payments to ensure all debts are manageable within the available resources. Monitoring and keeping a record of all credit card transactions to have a clear understanding of your spending pattern so you can identify areas where adjustments can be made.

  • Sell Unused Stuff and Live Frugally

Sell out items like old but in-shape books from the previous academic year, clothes, shoes, handsets, just anything you have no use for anymore but still in demand [ everything has a prize though ]. Put the money into your emergency fund to save you from using the credit card as an emergency fund or pay off your principal balance.


You will have the greatest relief when you realised you’re graduating college with no debt after having used the credit card throughout your campus years. This is why you need to employ these strategies and master the art of managing credit card debt as a college student.

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