kids are able to build up their credit history early on
Jefferson City, MO (PRWEB) August 09, 2017
Credit card use for college kids will soon be a hot topic among parents. This is the reason why National Debt Relief aims to help differentiate the pros and cons of giving one to college freshmen. The article titled “Credit Cards and College Freshman: Pros And Cons” released July 31, 2017 gives parents a clear picture on the advantages and disadvantages of having credit cards. This will help them make informed decisions.
The article starts off by explaining that as soon as students graduate from high school and prepare for college, there will be a lot of credit card offers coming in. These offers will be geared towards these clients This makes it very tempting for college kids to get one and it is important for parents to step in and discuss this decision with their kids.
The article explains that there are a lot of advantages in allowing college kids to have a credit card of their own. For one, it helps them cover any emergencies they might have. It also gives the parents the chance to monitor their children’s financial activity especially if they co-signed for the card. However, one of the biggest takeaways is that the kids are able to build up their credit history early on.
In light of these pros, the article also points out the disadvantages when college freshmen get their hands on credit cards. For one, it can add on to the student loan debt they already have. This can lead to stress and other financial and emotional problems when left unchecked. The article also points out that for co-signed cards, the children’s failure to meet their payments would reflect on the parent’s credit score as well.
The article points out that as parents understand the pros and cons of credit card ownership for college students, they need to carefully weigh them to reach a decision. It is possible that parents regulate card use by defining what an emergency is and setting a limit every month. There are also mobile apps that can help manage and even remind children about card payments.
To read the full article, click https://www.nationaldebtrelief.com/credit-cards-college-freshman/