Credit Safety On The College Campus (GP)

February 15, 2008 by Tisha Kulak.

Students going off to college are in for a lot of new experiences. With a little common sense and by practicing good habits, stolen credit cards and identity theft will not be one of them. College students have many options when it comes to credit cards. There are many that offer academic rewards for maintaining good GPA’s and others that offer great deals such as cash back incentives or discounts for special purchases and events. College students stand a good chance of finding a credit card with rates and benefits to suit their personal needs.

Students who utilize their credit card for buying books and school materials and for other emergencies get the opportunity to learn first-hand the basics of handling finances and budgeting in the real world. As long as education on financial responsibility comes beforehand from the parents or responsible adults, owning a credit card as a student can be a rewarding lesson for everyone. In addition to learning the fundamentals of good credit, another conversation about safety is just as important.

First-time college kids have a lot on their plate. Trying to navigate new campuses, meet new friends, and understand new class schedules can be confusing and time-consuming. It is important that in the mad rush of student life, college students need to find time to ensure their personal information, especially credit cards, are always properly secured and that receipts are kept safe. Standing in long lines at the book store can break anyone’s mind and wear a student out in the initial first weeks of a new semester. Even so, make a good habit of putting your credit cards away some place safe and check on it often.

It is also important college kids learn about the importance of protecting their privacy and identity. Do not loan your credit card out to anyone for any reason. Never share your PIN numbers of social security numbers with anyone, regardless of the reason. The same is true when you are online. Do not post private information about yourself on any website. College kids are often an easy target because there is often a lot going on during the adjustment period. Getting caught up in your studies and new social life, you may be inclined to let down your guard. Keep a careful eye on your receipts and charges and don’t forget to thoroughly go over your bill each month. It takes an experience thief a quick minute to get your information and even less time to financially ruin your name.

College may very well be some of the best times of your life. If you are careful and diligent with your credit cards and other personal information, you stand less of a chance of having someone take advantage of your and ruining a great overall experience. Your credit will stay with you for a long time, long after graduation, and in some cases well into adulthood. Protecting yourself now is essential to being protected and financially secure in the future.

About the Author:

This is a guest post by Tisha Kulak, is a writer for CreditorWeb, where she writes about student credit cards and responsible credit card use.

This post was featured in:

The Carnival of Debt Management #39 hosted by Credit Card Lowdown. For more information please visit the Carnival of Debt Management.

3 Comments

Adfecto, 15. February 2008, 14:42

I don’t know how to fix the problem. Some 18 year olds get a card and never have a problem and others go nuts with the plastic. I think maybe we should mandate that there is proof of employment and a low debt to income ratio is enforced for cc borrowers who are under 25? If your income is $2,000 a year part time we should not let people have $2,000 in easy credit. Once you have shown responsibility and as your income increases so too could your credit line. Just a suggestion. Better education in High Schools would be great too but we all know how much attention we paid in HS right?
Pinyo, 15. February 2008, 19:16

I think there should be some sort of graduated system where credit card companies cannot give a new borrower more than say $500 initially. When the borrower has proven his/her responsibility with the credit card, then the limit gradually increases to $750, $1,000, etc.

I think these companies are counting on parents bailing their kids out of trouble.
Make Friends, Earn Money, 16. February 2008, 7:44

Hi Tisha, nice to have you guesting on the Moolanomy blog, I totally agree with you about the need to be careful with personal information when at university, credit card and other forms of ID fraud are so easy to commit against students because of the share nature of much of their accomodation. I also agree with Pinyo’s comments, about setting a credit card limit to avoid students getting into more debt, in fact I know it would be unpopular but I would ban credit cards to students altogether because the temptattion is just too great. I’ve also written an online safety article based upon my experience working in the IT industry viewable here: http://www.friendsandmoney.co......afety.html

Hope your back soon Tisha, with some more interesting posts, thanks Pinyo