Small Business Reading Room

Monday, July 27, 2015

College Students and Credit Cards

In a little over a month, schools will be back in session. For those students and parents who are preparing for that first year of college, they have to make a decision whether the student should have a credit card
Obviously, a credit card for a college student has its pros and cons. It can be an excellent way of building credit, but it can also be a means of building significant debt.
If the student does build up a larger than expected balance on the card, the parent could take the card away or enroll their student in a credit card debt assistance program. Enrollment in such a program could teach the student the value of good credit and also the problems caused by using a credit card foolishly.
As you can see, both the parents and the student must make a very important decision on having a credit card issued to a college student. 

By Bill Regenauer



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