When letters regarding these cards came, I either opened them and threw them away or just threw them away. I just got it for the T-shirt. I didn't wise up to what I was doing until I had a conversation with my dad. He told me to call the companies to cancel my account. Luckily I didn't owe any money yet.
Credit cards offer convenient ways to spend money without counting out cold cash.
If you are not careful, however, what begins as hassle-free spending can become a nightmare of debt, outstanding fees, bad credit and bankruptcy. Students should think twice before signing up for credit cards. Forty-two percent of students who obtained credit cards at campus tables reported carrying unpaid balances. On the other hand, only 35 percent of students who signed up for cards elsewhere reported carrying unpaid balances. If you have a credit card simply for emergencies or pay the maximum amount on your monthly bill, then good for you.