Student Financial Management: Should You Use a Credit Card?

Credit cards used to be 'strange' to students, often associated with the prejudice of spending beyond their means. Nowadays, the younger generation has more knowledge about finance, so credit cards are considered a tool to practice smart spending skills, discipline and build financial responsibility right from the school days.

When students are financially "mature" - credit cards are tools, not risks

No longer a generation accustomed to cash and traditional savings, today’s students have a proactive financial mindset, know how to manage income and expenses, and invest time in learning personal finance skills. For them, using a credit card does not mean spending beyond control, but rather a calculated choice.

To make the most of credit cards, students only need to remember a few basic principles. First of all, choose the right card line - prioritize products with low interest rates, cash back when spending, many incentives at places familiar to students such as bookstores, convenience stores, supermarkets, or use on ride-hailing platforms, online learning.

Next is to pay off the outstanding balance on time, avoiding unnecessary interest or penalties. Equally important is to spend within your ability to repay the debt, avoiding using the card to "spend beyond your means". In addition, students should also limit cash withdrawals from credit cards because they will immediately incur high interest and fees.

Knowing how to spend wisely with a credit card is the way for students to be proactive in all situations - from dealing with unexpected expenses such as tuition fees, learning equipment to personal development needs such as foreign language courses, soft skills, etc. At the same time, this is also the first step in building a reputable credit profile for the future financial future.

Visa O ₂ - the ideal credit card for students living a modern and sustainable green life

Understanding the consumption habits and specific needs of students, Sacombank has launched the Sacombank Visa Platinum O ₂ (Visa O ₂ ) credit card line - a financial product designed specifically for the young generation who live green, modern and consume sustainably.

Not only is it a convenient payment method with unique carbon measurement technology, the O ₂ Visa card also opens up a green consumption ecosystem with a series of attractive incentives. Customers who open a card and spend an accumulated amount of VND 2 million or more within the first 30 days of activation will receive a refund of up to VND 600,000, providing practical support for students in the period of getting acquainted with new financial tools.

O2 Visa card has an interest rate after interest exemption of only 0.8%/month - one of the highest incentives on the market today.

Not only is it a convenient payment method with unique carbon measurement technology, the O ₂ Visa card also opens up a green consumption ecosystem with a series of attractive incentives. Students and young people can use the O ₂ Visa to pay for public transport such as buses and metro - options that help reduce emissions, save costs and contribute to building a civilized, environmentally friendly urban lifestyle. Customers who open a card and spend an accumulated amount of VND 2 million or more in the first 30 days of activation will receive a refund of up to VND 600,000, providing practical support for students in the period of getting acquainted with new financial tools.

In addition, Visa O ₂ also refunds 10% of the transaction value, up to VND 300,000/period, when spending at green brands such as Xanh SM (pure electric mobility service), Vinamilk (dairy brand focusing on sustainable agriculture and livestock) or Decathlon (sustainable sports fashion) - familiar destinations for young people who are active and concerned about the environment.

One of the outstanding advantages of Visa O ₂ is the interest rate after interest exemption of only 0.8%/month - one of the highest incentives in the current credit card market. This is a very beneficial mechanism for students - a group of customers with unstable income - helping you handle urgent expenses while still controlling costs. This helps you maintain cash flow for other goals, while practicing responsible spending - a necessary financial skill.

In addition, the O ₂ Visa card also allows you to convert 0% interest installment payments for expenses right on Sacombank Pay - a useful feature for large expenses such as purchasing learning equipment, skills courses or travel experiences. With transactions of 5 million VND or more, users can flexibly pay in installments for 3 to 6 months and receive a conversion fee refund of up to 1 million VND - helping to relieve financial pressure but still not miss out on investment opportunities.

Not stopping there, Visa O ₂ cardholders can also borrow consumer loans online 24/7 right on the Sacombank Pay app with interest rates from only 12%/year and flexible terms from 2 to 60 months - an extremely convenient "rescue" tool in situations of urgent financial need.

Visa O ₂ is not just a credit card - it is the key to a green, modern and active lifestyle. From carbon measurement technology for each transaction, a series of cashback incentives for green spending, to low interest rate policies and smart financial control via Sacombank Pay - all aim for a sustainable financial ecosystem, environmentally friendly and suitable for the financial thinking of Gen Z.

Source: https://thanhnien.vn/quan-ly-tai-chinh-thoi-sinh-vien-dung-the-tin-dung-co-nen-khong-185250527194504536.htm