College Student Credit Card Abuse  

      Credit cards are fast becoming an important part of everyday life. Ironically, most graduate students are using credit cards to sustain their life style. In a recent survey conducted by an independent organization, graduate students in the US now average $8,216 in the form of credit card debt.

      This increases with the amount of time being spent by the student in the college. However, only 20 percent of graduate student pay off their credit card bills.

       There are several credit card companies in the market offering college student credit cards. One need not even have a proof of income to get a student credit card. All students need to do is provide proof that they are full-time students and they receive the card. For these credit card companies, students are easy prey. More than two-thirds of undergraduate students have at least one credit card. Out of these, many students do not even realize the way a credit card has to be used. Many students use the credit card to buy textbooks and pay a part of their tuition expenses. With credit cards, it is much easier for students to buy a more expensive item than what they would be able to afford under normal circumstances. Few others use it for shopping and eating out at restaurants.

      It is important for graduate students to learn about handling money during their college days. Responsible credit management and maintaining a good credit history during college days can have a significant impact on determining life after college.                   


      A borrower’s credit history is reported in the form of a credit report. Credit worthiness of a person is assessed using these credit reports. Untimely payment of credit card bills can cause a significant damage to the borrower’s credit. Many employers now look at credit reports when assessing the value and character of a potential employee. A bad credit can actually prevent a student from getting a job. Inside the campus, the student needs to work harder for longer hours to cover the debt incurred on a credit card.

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College Student Credit Card Abuse






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