You go to college to learn, broaden your experience, meet interesting new people, even to have a fair amount of fun.
Nobody aspires to a higher education to acquire long-term credit card debt.
Nonetheless, more and more credit card-carrying college students are piling on debt at a time when they're least able to sustain timely payments. The long-term implication for heavy borrowers is they risk credit score failures, which can negatively affect their ability to secure a mortgage. He recommends college students shun credit cards and opt for a debit card. Once that amount is expended, parents decide whether to recharge them with additional spending power. Besides avoiding debt, smart cards can allow a student to maintain good credit through college, producing a long-term payment history, a critical component when applying for a home loan.