My Fleep:
Finance
Finance
College Student Credit Cards: Friend or Foe?
There is much debate surrounding college student credit
cards. Some swear up and down that they're a disaster
waiting to happen while others vehemently object and insist
they are a must-have financial tool for college students.
Which side is right?
When deciding whether college student credit cards are good
or bad, you need to weigh the facts. These three truths
will help you come to your own conclusion.
1. Aggressive Marketing
College student credit cards have gotten a bad rap when it
comes to their marketing tactics -- and some would say that
it's for good reason. You can't hit a single college campus
without coming across at least one application for college
student credit cards.
That being said, while the applications are definitely
readily available (to put it lightly), no one is forcing
college students to sign the application. It's the
responsibility of a parent to instruct their children on
wise financial decisions.
The credit card companies are marketing their product --
that's what they do. Parents need to do their part and make
sure that they instruct their children in the ways of the
credit world.
2. They've Got to Grow Up Sometime
Everyone has to grow up sooner or later and college student
credit cards can provide some priceless lessons in the
world of adult finance. For the first time, college
students can be responsible for their own spending and
their own monthly bills.
Yes, college student credit cards can provide the potential
for disaster (but so can a number of situations that
students encounter in college). Just because student credit
cards have the potential to be misused, it doesn't mean
that they will be. Have some faith in today's college
students!
3. Paving the Way
Once a college student graduates, they're going to need
some things (a place to live and a car to name a few) and
they're going to need credit to get the things they need.
If they don't start building their credit history in
college, when are they supposed to do it?
If a college student wants to be completely prepared when
they graduate, they're going to need to work on building a
solid credit history while they're in school. College
student credit cards can be the means to that end.
If you know a college student (or are a college student)
who has been debating about whether college student credit
cards are good or bad, consider the above three facts and
remember, it's not college student credit cards themselves
that are good are bad -- it is who is using them and how
they are being used that make the difference.
----------------------------------------------------
For more tips on student credit cards, saving money and
avoiding getting taken, check out CreditCardTipsEtc.com, a
website that specializes in providing credit card tips,
advice and resources.
http://www.creditcardtipsetc.com/student_credit_cards/
There is much debate surrounding college student credit
cards. Some swear up and down that they're a disaster
waiting to happen while others vehemently object and insist
they are a must-have financial tool for college students.
Which side is right?
When deciding whether college student credit cards are good
or bad, you need to weigh the facts. These three truths
will help you come to your own conclusion.
1. Aggressive Marketing
College student credit cards have gotten a bad rap when it
comes to their marketing tactics -- and some would say that
it's for good reason. You can't hit a single college campus
without coming across at least one application for college
student credit cards.
That being said, while the applications are definitely
readily available (to put it lightly), no one is forcing
college students to sign the application. It's the
responsibility of a parent to instruct their children on
wise financial decisions.
The credit card companies are marketing their product --
that's what they do. Parents need to do their part and make
sure that they instruct their children in the ways of the
credit world.
2. They've Got to Grow Up Sometime
Everyone has to grow up sooner or later and college student
credit cards can provide some priceless lessons in the
world of adult finance. For the first time, college
students can be responsible for their own spending and
their own monthly bills.
Yes, college student credit cards can provide the potential
for disaster (but so can a number of situations that
students encounter in college). Just because student credit
cards have the potential to be misused, it doesn't mean
that they will be. Have some faith in today's college
students!
3. Paving the Way
Once a college student graduates, they're going to need
some things (a place to live and a car to name a few) and
they're going to need credit to get the things they need.
If they don't start building their credit history in
college, when are they supposed to do it?
If a college student wants to be completely prepared when
they graduate, they're going to need to work on building a
solid credit history while they're in school. College
student credit cards can be the means to that end.
If you know a college student (or are a college student)
who has been debating about whether college student credit
cards are good or bad, consider the above three facts and
remember, it's not college student credit cards themselves
that are good are bad -- it is who is using them and how
they are being used that make the difference.
----------------------------------------------------
For more tips on student credit cards, saving money and
avoiding getting taken, check out CreditCardTipsEtc.com, a
website that specializes in providing credit card tips,
advice and resources.
http://www.creditcardtipsetc.com/student_credit_cards/