You should continue using your student credit card after graduation, as keeping your oldest credit card accounts open is good for your credit score and student cards usually offer pretty attractive terms. Credit card companies do not cancel a student credit card account when the cardholder graduates, or anything like that.
If you’ve outgrown your student credit card, however, you may want to check your credit score after graduating and consider your chances of getting approved for a better deal, either from your student card’s issuer or another credit card company. It’s not a bad idea to let your card issuer know you’ve graduated because they may have a better offer waiting for you. Similarly, if you get a job after graduation, you may be eligible for a credit limit increase.
Whether or not you upgrade after graduation, it’s usually beneficial to keep the student card open. If your account remains in good standing, the student credit card will help build your credit score. On the other hand, canceling a credit card, especially your oldest one, will lower your average age of credit and your total available credit, hurting your score. Keep in mind that leaving your student card account open doesn’t mean you have to use the card. It will continue to help your credit score, even from your sock drawer.
To find out how much canceling your student credit card account would impact your credit, try WalletHub’s free credit score simulator.
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