College Students Misusing Credit Cards

Credit cards are magic cards.
With one swipe on the machine, one could get anything from anywhere goods or services are sold. But the enchantment disappears once the real bills come through the mail. Many college students misusing credit cards realize such problems too late and often emerge flat broke.

Credit card sign up tables crowd campuses because the student demographic is a market target easily enticed with freebies, from exclusive memberships in hip clubs to discounts from trendy stores. College students are vulnerable to acquiring debt as responsible personal finance is not a topic included in most school curriculums. And who would not be lured into the myriad possibilities of purchasing without actual burning cash? One could buy anything and pay up bills with just one plastic card. Hence, college students misusing credit cards is a sure mishap waiting to happen. Conversely, most credit cards are not a scam. One just needs to fully understand the responsibilities this privilege entails.

Credit knowledge is vital for anyone who would want the freedom in hassle-free purchasing habit. Good for those students who have received thorough explanation from their parents; unlucky for those who instantly jump in at the presence of incredible sounding offers. Credit card bills usually allow students to not have to pay the full sum monthly. One could just pay the minimum to continue using the card. However, this leads to piling up interests on unpaid balances. College students then end up with dues and interests, burdening them the rest of their lives.

Various college students misusing credit cards scenarios include missed payments, unforeseen expenses and unnecessary purchases. These problems result to further life burdens. Some college students in compounded debts drop out of school to in order to work to pay off their debts. Some even grow clinically depressed due to stress involved after realizing how much they owe. All these only occur among irresponsible spenders and uninformed card users.

To avoid such troubles, test the waters before jumping in. First of all, you need to familiarize yourself with the whole credit card offer. Introductory interest rates are usually low, but these change over time, over further purchases. Check the payment options. Set your credit limit to a maximum of $500. Assess how you can pay off your expenses.

If you really want a credit card, take every single responsibility upon yourself. You cannot expect your parents to save you every time you are in deep debts. Think that you are in it all alone. If such thoughts scare you, then you just might not be ready to be a credit card user yet. Thus, you can avoid becoming one of the college students misusing credit cards.

Alternatively, credit cards really provide convenience. It’s almost a necessity nowadays. But before purchasing anything, think hard about if you really need it. Maybe it is best to only use in case of emergencies. Picture yourself in the future. Are you enjoying stress-free shopping or are you hiding from the credit card companies chasing after you?

In the end, discipline is all it takes in having a college student credit card. With careful consideration, you can avoid becoming a person with credit card debt up to their eyeballs and a bad credit rating!


Source: Credit Cards For People With Bad Credit Rating

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