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Monday, November 03, 2008

Common Mistakes that College Students Make with Credit Cards

College life is one of the most unforgettable chapters in everyones life. It is often a persons first taste of real independence, and their whole life is ahead of them. But this can also be a time where a college student can make decisions that have repercussions that last for many years.
There are a ton of common mistakes that college students make with credit cards. They do it without fully realizing the impact that this will make on their lives in the years following graduation. After you graduate, you need to look for your first real job, find a place to live, start paying back your student loans, and begin your post-college life but all of these things can be affected by careless use of credit cards Credit card companies frequently target college students specifically because they often are not savvy about what borrowing money really costs over time. As a result, many college graduates begin their lives burdened with debt that takes many years to pay off. Here are some examples of the many mistakes that college students make with credit cards:
1. Opening an Account to Get Free StuffThis is one of the more effective come-ons that credit card companies use to lure college students. They are especially fond of setting up booths near the bars. They do this so that when you are barhopping with friends and your judgment is already compromised, you get caught up in the moment and sign up to get one of those cool, goofy hats that they are giving away. Read More>>