DON’T BE TRAPPED BY THESE COLLEGE STUDENT CREDIT CARD MISTAKES

When your student heads off to college, they acquire a level of freedom they may have never experienced before. For many, this includes exploring the world of credit cards.

If you want to make sure your student is prepared for this aspect of personal finance, here’s what you need to know.

1. NOT LEARNING HOW CREDIT CARDS WORK

In many cases, if they apply for first-time credit cards for college students, they don’t have a full understanding of how they work.

2. APPLYING FOR A CREDIT CARD WITHOUT THE MEANS TO REPAY THE DEBT

In some cases, credit cards for students to build credit don’t have strict approval requirements.

3. NOT HAVING A BUDGET

If your student doesn’t have a budget, encourage them to take that step first. Once they are comfortable with managing the money they have.

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