Are credit cards good for college students to have?
On One Hand: Good for Building CreditCredit cards are an excellent way for college students to build credit. As long as the bills are paid each month, the credit company will report the positive credit information to the credit bureaus, which helps students achieve a higher credit score.On the Other: Too Tempting for ManyOnly 21 percent of students pay off their credit cards each month, according to Consumer Affairs. If students do not carefully track their spending, they can get caught in a cycle of debt.Bottom LineIf the student uses the card responsibly, a credit card can be good to build credit history and even provide cash in an emergency. If the college student considers late night pizza for the dorm an emergency, however, a credit card may not be the wisest idea.
