Use Other People’s Money for Free
Protection for Purchases
Protection for Losses
Travel Advantages
Car Rental Savings
General Tips

Let’s face it: when it comes to getting credit, students have it easy. Most young adults do get a card the first time they apply. According to a recent study for The Education Resources Institute and the Institute for Higher Education Policy, two-thirds of college students have credit cards and a quarter of them got their first card as a high school student.

The good news is that most young adults are pretty careful with their cards and don’t run up huge balances they can’t pay back. But, at Consumer-Debt-Counseling.com, we’ve heard from enough people to know that some do. When that does happen, it can create a lot of problems. So it’s worth the time to help young adults learn how to use those tempting pieces of plastic carefully and avoid a hefty tab by graduation.

The advantages of credit cards are the same for students as anyone else — they’re convenient, you can “buy now, pay later,” and they can help you build an excellent credit rating. After all, the best reference you’ll find on a credit report is a major credit card paid on time, all the time. A good credit rating can be a big plus when you graduate and start looking for a job, a place to live and even a car loan.

The main disadvantage to credit cards is that they don’t always feel like “real money,” so some people charge more than they can really afford. You can quickly wind up with big balances that will be a huge drain on your finances once you’re out of school.

Don’t assume you’ll be able to easily handle those bills when you get your first job. Most graduates are surprised at how far their first paycheck doesn’t go. The less debt you have to worry about, the better.

Credit cards can be a great tool and can even save you money if you’re smart about how you use them. That doesn’t mean charging up a storm on things you can’t afford, or even using your cards to maintain your lifestyle. But if you know the benefits of credit cards and how to take advantage of them, you can come out ahead. Here are the advantages of saying “Charge It!”