Despite the fact that students have little income or credit history, such solicitation is not surprising. Roughly three in four students keep the first credit card they receive for 15 years or longer. Students have been forced to drop out of school because of debt problems brought on by the misuse of credit cards.
Credit cards can have their place in a college student's life.
Educate them about credit cards. And like many adults, they don't grasp the often expensive issues of grace periods, late payments, finance charges and minimum payments. Students also need to learn about the importance of building and keeping a good credit history-it affects their ability to get future loans and even their ability to get a job. Have a spending plan. Keeping a budget for the school year can help your student think more carefully before spending, and better understand how a credit card fits in the picture.