Apply for a Credit Card

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Anyone who has ever been to a retail or department store knows how easy it is to apply for a credit card. Sales people offer the 10% off the purchase price to lure customers into applying. Credit card companies want you to save your cash and use their MasterCard or Visa credit cards. It is a buy now and pay later world. For those who have recently turned eighteen, this can seem like a tremendous power, especially if cash is tight due to school.

Instant approval credit cards may be a godsend when you find yourself in desperate need of school supplies or in need of the basic essentials. However, far too often the ability to easily apply and get one can lead to massive financial problems. Student credit card debt is out of control. Students are inundated with bank credit cards, MasterCard or Visa credit card offers and many do not consider the ramifications of how easy it is to abuse their use.

No one doubts that college is expensive. Tuition, room, board and associated fees can wipe out savings very quickly. You, as a student, may have such an immense class schedule that makes working part time impossible. This is especially difficult if you are involved in school activities, such as sports or academic organizations. Most parents cannot afford to pay for all the extra expenses a student incurs, not to mention if there are off campus expenses and luxuries wanted.

No one is telling you not to apply for a credit card. You should always have a back up in case of an emergency, but far too often this back up becomes easy to use for everyday purchases. Before long the credit card is maxed out and you are facing monthly bills that you may not be able to pay. If you start missing payments, you can find yourself sinking farther under and facing more fees.

Remember that just because you can apply for a credit card and get it, does not mean that you should. Credit is a delicate balance between having too many or not having any. You need to begin working on your credit score. The more college student credit cards you apply for, the more times your credit score is checked. Each time it is checked, it lowers a bit. Be smart and use financial responsibility and you will go far in life.

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