For some, credit card works like magic. You just do not have to have any cash in your pocket to make those purchases which you find unique and a must have. Students, who have credit cards provided by their parents for emergency use, tend to misuse it often by making rash purchases. The students are not employed and hence are not in a situation to pay back the credit cards debt. Parents of such students are surprised to find huge bills from their credit cards and this amounts to credit cards debt. They find it very tempting to buy those things that are not that necessary and find themselves in an awkward situation later, with their parents having to clear all their credit cards debt.
Fortunately, there are present some credit cards for the average students and has a reasonably low rate of interest and low limit. But still, the students tend to buy things of less importance and by maxing it up end up with credit cards debt. What is devastating is many students all over America have this notion that without a credit card is worse, but having a credit card that is not maxed out is worst. This tends them to use the credit cards to show off their style. This unnecessarily ends up in credit cards debt which later becomes unmanageable for the unemployed student. They also tend to lower their valuable credit scores.
Students need to be taught on the credit card usage and make them understand the consequence of credit cards debt. This will make them a responsible citizen and accountable for every transaction made on the credit card. Students need to learn to maintain their credit card worthiness and in turn their credit score healthiness. This is the learning that would go with them beyond the college. Lessons taught in credit cards debt early in their life would help them get a long way in life and achieve success. Credit cards debt is a bad thing in the early stages and students often tend to leave their studies in order to work so that they can repay their credit cards debt.
