What Students Should Know About First Credit Cards

Before getting their first credit card, students should understand that it’s not "free money." The top three considerations when choosing a card are annual fees, interest rates and rewards, said Robin Taub, a chartered professional accountant in Toronto. Key considerations include interest rates, fees, and the importance of building credit responsibly. Students should aim to pay off the balance in full each month to avoid debt. Additionally, they should be aware of their spending habits and the potential impact on their credit score. Educating themselves can lead to smarter financial decisions.