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Student Credit Card Pitfalls
By plrprousers | October 31, 2008
One of the reasons that people tend to advise heavily against student credit cards is the fact that so many students seem to get in trouble with them once the glamour of having the credit card has worn off. Students, by virtue of being so young in most cases, really do not have the developed experience or discipline necessary to deal with the student credit cards they are given and in many cases this leads to a build up of debt that takes them years to pay off at best or destroys their credit rating right from the very beginning at worst.
The student credit card pitfalls that you need to watch out for are very obvious pitfalls, but they bear pointing out just the same. The first one is of course spending more than you actually have on the credit card. If the purpose of your student credit card is a dual purpose of convenience and building credit ratings from an early age, you need to be very disciplined in how you use the card. Never spend more money than you have with a student credit card, because once you stop making the payments in full the interest charges will start to apply to your account. If you do just one thing right with student credit cards, make it this one.
Another common pitfall suffered by people that put their faith in student credit cards is the pitfall of identity theft. Too many students are too liberal with how they keep their things and because of that student credit cards can be the easy road to them getting their identity stolen by someone else. Student credit cards and in particular student credit card statements should be treated with extreme caution and security to avoid them getting into the hands of the wrong person.
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