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    ctly, how to position them as an opportunity to build a good credit history, and how to control their usage. A student credit card can be used to teach budgeting and finance as well as to allow flexibility in expenditure
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    Your bright-young-thing goes to college as a student, away from home for the first time, full of the thrill of freedom. And she needs money to spend. While teaching her to manage her money, very often the question is – is it ok to let her have access to huge amounts of credit in the first place? Is it OK to give her a student credit card? Credit card companies are among the first to line up at her door with their attractive offers including freebies, zero interest offers, etc. Before you know it, the student credit card becomes a family liability – a credit trap from which it is difficult to escape. What should one know about credit cards for college students in order to avoid this credit trap?

    Pros and Cons of Student Credit Cards

    Student credit cards are, in fact, more good than bad. Like anything else, one needs to learn how to choose and handle them correctly, how to position them as an opportunity to build a good credit history, and how to control their usage. A student credit card can be used to teach budgeting and finance as well as to allow flexibility in expenditure

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    s it ok to let her have access to huge amounts of credit in the first place? Is it OK to give her a student credit card? Credit card companies are among the first to line up at her door with their attractive offers including freebies, zero interest offers, etc. Before you know it, the student credit card becomes a family liability – a credit trap from which it is difficult to escape. What should one know about credit cards for college students in order to avoid this credit trap?

    Pros and Cons of Student Credit Cards

    Student credit cards are, in fact, more good than bad. Like anything else, one needs to learn how to choose and handle them correctly, how to position them as an opportunity to build a good credit history, and how to control their usage. A student credit card can be used to teach budgeting and finance as well as to allow flexibility in expenditure

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    ing freebies, zero interest offers, etc. Before you know it, the student credit card becomes a family liability – a credit trap from which it is difficult to escape. What should one know about credit cards for college students in order to avoid this credit trap?

    Pros and Cons of Student Credit Cards

    Student credit cards are, in fact, more good than bad. Like anything else, one needs to learn how to choose and handle them correctly, how to position them as an opportunity to build a good credit history, and how to control their usage. A student credit card can be used to teach budgeting and finance as well as to allow flexibility in expenditure

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    dents in order to avoid this credit trap?

    Pros and Cons of Student Credit Cards

    Student credit cards are, in fact, more good than bad. Like anything else, one needs to learn how to choose and handle them correctly, how to position them as an opportunity to build a good credit history, and how to control their usage. A student credit card can be used to teach budgeting and finance as well as to allow flexibility in expenditure

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    ctly, how to position them as an opportunity to build a good credit history, and how to control their usage. A student credit card can be used to teach budgeting and finance as well as to allow flexibility in expenditure while making it safer to use than cash.

    Joint Ownership of a Student Credit Card

    You need to first see what kind of credit card is best suited for your teen. Some credit cards allow joint ownership between student and parent – that’s the one for you. Lay down a few rules about usage, including deciding on a budget and penalties for misuse. Pick up the credit tab regularly but allow the student to pay back some of the balance with their own earnings. This will encourage them to hold summer jobs and part-time jobs and learn to earn. The advantage of a joint card is that the parent gets a monthly statement which allows them to monitor all expenditures. That’s an opportunity for developing a sense of value in the young college student.

    Credit cards for college students can have very low credit limits. This places a restriction on the total spend, forcing th

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