 |
Student credit cards
and adding a credit card into the mix can be disastrous but it can also be necessary. When a student is away from home at college, things do come up. Having a student credit card can be helpful. The key is to make sure your child understands what the card is for and, more importantly, what it isn't for. Be clear on how and what the card is to be used for and keep tabs on spending. Hopefully, throughout their high school years, they have been taught some type of financial responsibility and know and understand the pitfalls of over charging. Many credit card companies will issue student cards that have lower credit limits and fewer incentives to help keep their spending in check. Still, take note. Many college students graduate with a credit balance that averages between $3,000 and $7,000 and with interest rates being what they are, this can be a real problem when trying to pay them off. And, possibly worst of all for a student, potential employers will often review the credit history of an applicant. That includes credit card history. That information is available to them for little money by making a few mouse clicks, and they do use it. Think long term when you shop for a college student credit card. It's the one area in which a student really does have 'a permanent record'!
|
||||
| |
|
© Copyright 2005-2006 by abc-of-credit-cards.com. All rights reserved.
|