Best credit cards Thoughts and more
What parental heart does not sink when their college age child calls from a far off campus in desperate need of money. Student credit cards, used wisely, can bring peace of mind to both parent and student and save many a trip to Western Union or to the post office. One of the biggest benefits student credit cards offer is that they can teach a student financial independence and responsibility, provided they are used right. Parents can instill in their children the importance of debt repayment by making a part time job a condition of allowing their student access to credit cards and insisting on repayment of charged personal expenses with his own money. Student credit cards also introduce the interrelated concepts of interest charges and late payment fees and illustrate how rapidly they accumulate on unpaid and overdue credit card debt.