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May 31, 2001
By
Bob Buckham
Website:
http://www.best-free-credit-cards.com
>
Great info on Student Credit Card Application
On college campuses, do you know what poses a greater threat than alcohol or sexually transmitted diseases. Student credit card applications and credit cards.
Now, we are not saying that credit cards and student credit card applications are bad. Actually the opposite is true. Getting a credit card from a student credit card application is a great way to establish credit. And everybody needs to establish good credit if you want to be taken seriously by financial institutions. But read on to see some of the pitfalls if you don't use a credit card wisely.
According to a study released earlier this year by the Consumer Federation of America, expanding student credit card applications and credit card debt is quickly becoming one of the most severe threats to academic success on college campuses.
Many students with credit cards from student credit card applications have amassed large amounts of debt, and according to the study, estimates are that nearly 20 percent of students may have credit card debt in excess of $10,000.
An account by one student goes like this. Jim, a recent graduate, indicated he got into trouble as a sophomore, and is still paying for it. He only had to prove he was a full-time student and the next thing he knew, there were student credit card applications and credit cards in his mailbox. He received the following cards and credit limits: VISA at $500, Sears at $900, JCPenney’s at $500 and Discover at $1,000. That is nearly $3,000 in credit for someone who did not have a job, or any visible means of support! What’s wrong with this picture?
With a negative credit history, it can be nearly impossible for you to rent an apartment, buy a house or car and most importantly—it could prevent you from obtaining your dream job.
The moral of the story. Handle credit responsibly, especially your credit cards.
Remember, credible credit cards such as Visa, Mastercard, Discover, American Express, Providian, Aria and Capital One offer instant online application approval. Many offer free secured and unsecured credit cards, and student cards as well. Applying online is fast and many offer great services.
For
more information on student credit card application - click here!
> About The Author:Bob Buckham is a successful author and the
publisher of http://www.best-free-credit-cards.com. Many industry observers have commented that his website offers the best recommendations, links and information on credit cards. *Webmasters,
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