It happens to just about every student walking from class to class. Regions like that are ripe for lead generation and customer acquisition. Credit card companies lick their lips when they see hapless students trekking to their next class, and they see an opportunity to snatch a student in their grasp and get them to sign for a preapproved credit card with a built-in limit. You know what that means? Money for the credit card companies. It obviously means great stuff for the students, too, but let’s be fair here:
Students Don’t Need Any College Credit Card Offers!
At this stage, students don’t need any help accumulating debt, leading to credit repair. We’ve seen numerous how-to’s on why credit cards are a necessary danger to the college student, especially when a college education is all about money management lessons for the future.
It’s a fact that many a college student will take that piece of plastic and start charging irresponsibly, and then long after the college student’s graduated, there’s that gigantic debt to still pay back. The trick is to resist that temptation of college credit card offers and opt for a debit/check card from a bank, specifically due to the fact that such a piece of plastic works like cash, not credit.
That means if you have the money, you can spend it. If you don’t, you can’t. Credit can be spent but then needs to be paid back. College students need to avoid the double whammy there.
In Other Words, Keep It Simple
Don’t get me wrong, though: you need credit. And oftentimes a credit card’s necessary to build that credit into something that will lead you to home ownership through, say, the H.O.P.E. Program. The time has to be right, though…. And when studying for your next mid-term or final exam, piling on the debt with all these college credit card offers is so not what you want to do.
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