As college students head back to campus for yet another school year, it's easy for first time and returning college students to be drawn in by the easiness by which they can obtain a credit card. Many credit card companies hit college campuses with the lure of free giveaways and low rates, signing up thousands of students within the first few weeks of school.
Credit is convenient and good to have in the event of emergencies.
College is a good time to get your credit rating on a firm foundation, and to develop responsible, good habits that can be carried on throughout your life. Credit is a large responsibility, that used in the wrong way can lead to large amounts of debt and financial difficulties. Students should beware of applying for multiple cards at one time. Credit cards that look like lifesavers during the college years can lead to unmanageable payments, with added student loan payments that can put an individual into debt before they've even gotten on their feet. One of the best habits to develop is not to spend more than you can afford to pay off.