Friday, October 26, 2007

Credit cards allowed to everyone especially students?

The biggest mistake the students make is opens a credit card account and also do properly understand the meaning of having one credit card.


Most of the students are being targeted by credit card companies at the age of 18 or so. The biggest mistake the students make is missing out the scheduled payments. When they miss payments, it goes to the credit bureau and it makes it harder after college when you want to apply for a loan for a house or a car.


Justin a junior sports management major, who is having a credit card with him, is predetermined that he will never go into debt. This is the approach we need to adopt.


Credit is not cash because if we don't have it in our bank account; how do we expect to pay it off? Credit cards trick you into believing you have all these great benefits and bonus points to your account but one mistake can take all of that away.


Having credit card does not mean that you have more money in your account. When we have a credit card account, that brings a lot of responsibilities and we need to use that in a careful manner with understanding of our current financial status.

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