Student Credit Cards Are A Step Towards Financial Responsibility

A recent addition to a college student's must-haves is a credit card. Along with the cell phone, the credit card is becoming more and more prevalent among young people ages 18-25. Perhaps it is but natural for credit companies to mine this previously untapped market. More and more products and services are being targeted towards these customers. And the more cool stuff is out there, the more they will want to buy - if not with cash, then on credit. Unfortunately, the problem with swiping away plastic is just that - students fail to realize that with each swipe they are one step closer to debt, which they may be unable to manage. That is why it is important that the right information on the judicious use of credit cards be made available to students. That is not say that a credit card per se is a bad thing. In fact, when used wisely, it becomes a smart way for young adults to build their credit history, which they can continue to build on as they becoming self-supporting professionals. Having a credit card also teaches students financial responsibility - showing them that it is important to live within means. It makes them aware of concepts such as principal, interest, balances and debt. The earlier they get comfortable with these, the better they can cope further on in the future. On the other hand, young adults can still be prone to financial naivet