College students and credit cards...what's your opinion?

Most students are not earning enough to pay off a credit card easily. I think it is far too tempting for them to rack them up and be very much in debt by the time they graduate. The ones most likely to use them are the ones that are struggling as it is. Many will have student loans to pay off as well. I think the credit card companys know exactly what they are doing when they offer credit to young kids that are on a limited income. Get this: I applied for and was denied a credit card to fashion bug years ago. The reason I wanted the card was to buy my younger daughters a few school clothes and to hopefully build my credit as I had none. I had always paid cash for everything. I got denied because of my lack of credit history. A month later my oldest girl who had just turned 18 applied and was immediatley given a card. She was a student and worked part time earning minimum wage. She had already co-signed for a friend on a vehicle even though she did not have a driver's licence herself. She quickly maxed out the card and soon the creditors were calling the house. They even tried to guilt trip me into paying because I should be caring about my daughter's credit! No. I had warned her about credit cards and this was a lesson she needed to learn on her own. She did and now at age 30 she holds a high position in a bank , owns her own home and is very self reliant and debt free. The credit card companys will get their money one way or another and they are well aware that many parents will bail their kids out. They thrive on late fees and high interest rates.

I believe some people can handle having a cc in college and others can't. I was very disciplined with mine until I got married and had to use my cc for necessities. Now 5 years later I'm still paying on it!! I probably would have been better with it if my parents had taken the time to discuss financial decisions with me, but they were not all that financially savy themselves. IF you can be disciplined it will definitely help build your credit, but I agree more with someone who posted earlier that cell phones and car loans are a way to build your credit and force you to pay up monthly!

I think it depends on the individual to a point. In College there are so many expenses. Some kids are sent off with no experience or knowledge when it comes to budgeting. I can see how it can get out of control. Too many companies are ready to give credit cards to College students. I think that's where the problem lies. It's not A credit card that causes the problem. It's the spending limit or multiple cards that leads to a debt that's hard to get out of. My friend's son got a credit card with a spending limit of $5,000. He didn't even have a job nor was he enrolled in College. He had just turned 19. Of course he went out and maxed out the card with no intention of paying the bill. He's going to wonder why he was so foolish when it comes back on him.

I think that this idea depends on the person. If the person is a responsible person and knows how to make good choices and decisions, then having a credit card shouldn't be a problem for that person as long as they are using it wisely. But if you're a person who constantly needs money or likes to shop (charge things), and can never pay bills on time,then having a credit card would not be a very wise thing to have in your possession. So overall, it all depends on the person.

I think students should hold of until they graduate. Teenage is a dangerous period. People tend to commit more mistakes during this time. They can't break the temptation to buy these and those. More chances to become debtors.

YES!! In today's society it is almost impossible to do anything without credit. When I moved out I had to have my parents co-sign for me since I don't have credit. Unfortunately, it seems, you need credit to get credit so there is no way for my to build up my own credit without a co-signer. I think that is a stupid circular train of thought.

I think it is a good for a student to have other ways of building credit, a car loan with a cosigner or a cellular phone. I had one credit card when I was in college and I paid it off every month. I didn't have problems with credit until way after college. I know most people are not this way though.

As I have grown older, I see the error of my ways as a young adult. those credit cards do nothing but cause more misery. You do get caught up with them and end up racking up so much debt that it is almost impossible to get out of in this lifetime. I totally don't agree with a student having a credit card. it causes more harm than good.

Hi browneyez2387! :) There are also professionals and working individuals who get a credit card but can't pay them off. Ask yourself first the following questions when you get the plastic. "Are you ready to get the credit card? What's your purpose why you want one? Are your prepared and responsible enough to deal with the consequences of having such card?" =) When you're ready to face the responsibility of having the card, then go for it. :) Take care and God bless! \(",)_