It seems that ever since I have been old enough to understand what a credit card is, I have been irrationally fearful of them. We all get the information packets in the mail from these credit card companies with every single one saying how great they are, but I wonder which ones are really the best for a student in college to have. We are pretty irresponsible people at times (yes, even you!), but I believe that a credit card could be a good thing if used for the right purposes. We have been told growing up to avoid credit cards because they are dangerous, but I would like to amend that by saying that they CAN BE dangerous. Remember to not forget our good friends, the helping verbs. Yes, credit cards can be dangerous when used to purchase unnecessary items such as shoes, clothes, fast food, drinks at the bar, etc. However, I have recently received a few credit card offers that I have contemplated opening for a specific purpose, and as growing adults, we need to be able to have at least decent credit when we get out of college and tossed out into the real world.
Credit is used for so many things. For example, when you apply for an apartment you need credit. A loan on a house or car? Well my friend you will need credit, or at least someone who has amazing credit and trusts you enough to cosign on your 2017 Chevrolet Camaro (that you probably can not afford the insurance on...) Ladies and gentleman, we are unprepared for the world of loans and credit, and that is why I recommend that we start now (if you're comfortable enough to trust yourself with a credit card...) I plan to open a credit card here quite soon, and I will use it only to pay for gas each month. In doing this I will be able to build some credit over the next two years I have in college, and I know how much my bill will approximately be each month.
What credit cards are good for college students? For me, I have been increasingly interested in Discover's "it" card. It offers a wide range of security and rewards benefits that other cards simply do not. For example, this specific card from Discover offers: the ability to freeze your card on the mobile app from your phone if you misplace it (did I mention we are irresponsible at times!?), check your FICO score for free online or on your monthly statements, and you get 100% U.S.-based customer service day or night.For anyone who has had bad experiences with customer services outsourced overseas, you get this. These are just a few of the features of the card, but some of the features that popped at me immediately.
Having a credit card can be an empowering thing, but it can also harm you. If you choose to open a card, please remember to be responsible with this potential plastic weapon of mass destruction! I am not advocating that everyone should have a credit card; rather, I am simply stating a a possible benefit. Good luck, and remember to think twice before you swipe!
