College Students and Credit Cards
As a college student you may be interested in obtaining your first credit card. As a parent of a college student you may feel that giving your child a credit card for emergencies is a good idea. No matter what, there are quite a few details that need to come into play before you get involved with credit cards as a college student. Remember, there are benefits of having available credit, but at the same time there are some drawbacks as well.
If you are applying for a credit card in your name only as a college student you should opt for one that is geared towards those in your position. In other words, there are credit cards specifically designed for college students. Most of them have no annual fee and a low credit limit. Some of them even have extras such as a reminder service so that you never fall behind if a payment is due.
Is there any risk in a college student carrying a credit card? There sure is. At this age many kids are not yet responsible enough to properly manage their money. In turn, a huge credit card bill is often times the end result. Is this something that you are willing to deal with as a student? How about as a parent?
Credit cards for college students are a great way to begin to build credit history. To go along with this, a credit card can be perfect for emergencies. If you are going to carry a credit card at this point in your life, make sure that you are careful with what you buy and responsible enough to pay the bill on time.
October 8th, 2008 at 8:17 am
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