Comments on: Best Credit Cards for College Students – Charge Wisely & Build Your Credit History

By: College Student Money Tips - Managing Your Money on Campus : Money Smart Life

College Student Money Tips - Managing Your Money on Campus : Money Smart Life — Tue, 26 Aug 2008 12:10:00 +0000

[...] money guide. Read a review of student health insurance options, compare the best student credit cards, find the best spot to keep your hard earned money in our review of the best bank accounts for [...]

By: Carnival of Personal Finance #167 - Highlights from the Beijing 2008 Olympics — Broke Grad Student

Mon, 25 Aug 2008 11:03:14 +0000

[...] Best Credit Cards for College Students – Charge Wisely & Build Your Credit History [...]

By: Best Checking Accounts For College Students : Money Smart Life

Best Checking Accounts For College Students : Money Smart Life — Sat, 23 Aug 2008 12:38:46 +0000

[...] out yesterday’s article on decorating your dorm room on a budget. We also review the best student credit cards as well as student health insurance options and how you can compare them with [...]

By: Extra Money for College Students - 31 Ways You Can Make Money In College : Money Smart Life

Sat, 23 Aug 2008 12:32:57 +0000

[...] the series on the best banks for college students, decorating your dorm room on a budget, and the best student credit cards. Make sure to come back tomorrow for ways to have fun in college without spending a lot of [...]

By: 5 Inexpensive Ways To Have Fun In College : Money Smart Life

5 Inexpensive Ways To Have Fun In College : Money Smart Life — Sat, 23 Aug 2008 12:32:15 +0000

[...] You may want to check out the other articles in the series on the best banks for college students, how you can make extra money in college, and the best student credit cards. [...]

By: Friday Finance Findings for August 22nd : Generation X Finance

Friday Finance Findings for August 22nd : Generation X Finance — Fri, 22 Aug 2008 15:14:47 +0000

[...] Best Credit Cards for College Students: Charge Wisely & Build Your Credit History – Most college students are headed back to school this week or next week, and the campus will be littered with credit card offers and promotions. While it can be a great idea to get a card to start building credit in college, students should choose wisely to make the most of it. [...]

By: Weekly Roundup: Fay, Fay, Go Away Edition | Frugal Dad

Weekly Roundup: Fay, Fay, Go Away Edition | Frugal Dad — Fri, 22 Aug 2008 11:01:36 +0000

[...] Best Credit Cards for College Students. This one goes against the conventional grain and suggests that college is a good time to “charge wisely and build your credit history.” [...]

By: Connie Brooks

Connie Brooks — Thu, 21 Aug 2008 15:02:07 +0000

I saw statistics this morning that said a third of all college students graduate with over $5,000 in debt – that is terrible.

What’s worse is that you have credit card companies giving away iPods and T-shirts on campus to get students to sign up for cards.

I definitely agree that students should take personal finances courses. I also believe that parents should do a much better job informing kids about credit, credit histories, and the additional cost involved when you borrow money for things you don’t really need.

@Capital Couples Finance, I agree, a low limit card is a good idea, but I disagree with the gas card. Considering how much gas costs, I think that could encourage kids to run up more money than they intend to on the card each month.

@ CK – yes, that was a very good rate about the introductory offers. Fine print is a bear, but you’ve got to read it.

Another important point is to never take out cash advances if you carry a balance. Cash advances are always computed at a higher interest rate, and they are the last thing the credit card company applies your payment to. So, you may have a card with a 9% interest rate, take out $100 as a cash advance, and end up paying 24% on the advance as long as you carry a balance.

@ ToughMoneyLove would you recommend an increase in the minimum age required to get a credit card, or no credit cards at all, for anyone ever? I’d be really interested in getting your viewpoint on that!

By: Ben

Ben — Thu, 21 Aug 2008 11:42:38 +0000

Capital Couples, that’s a good point. A low credit limit would definitely help keep from overspending, I’m not sure if you can call a company and ask them to lower the limit on a card, I’ve never tried.

ToughMoney, I definitely agree that there is a lot of money being spent on courses that don’t further a students chances of getting a job once they graduate. I can think of several classes I had to take that were a waste of time from a career standpoint.

I also agree that requiring some type of personal finance course would definitely benefit many students, and a portion of the course should cover credit cards and debt. The reason I cover student credit cards is that they’re a reality of finance in student life. Obviously there are some people who just aren’t responsible enough to manage a credit card during their college years but there are many others who are up to the task and can build a solid credit history that will benefit them in life after school.

How do you tell the difference between the two groups and protect the financially immature? Unfortunately, I don’t know if anyone has a good answer to that.

By: ToughMoneyLove

ToughMoneyLove — Thu, 21 Aug 2008 02:49:41 +0000

The only good credit card for a college student is ……. sorry, couldn’t think of one. It is bad enough that so many students are borrowing so much money for an education full of so much meaningless fluff that it all fades away within 6 months after graduation. The one good course they all should take is personal finance but of course they don’t. Too busy taking courses in 18th century French feminist theory. And you want them to have credit card debt too? Shame.