Student credit cards concepts
With a student credit card, your young adult can learn how to budget by having to set aside money each month to pay the bill. The student will also learn about interest and how it and late fees can build up if bills remain unpaid. Smart parents of a college student set limits on their childs student credit card use. The credit limit should be kept low as a way to discourage binge spending and develop responsible spending habits. Once away at school, the student will learn quickly that it is wiser to use a credit card for necessary purchases such as books and school supplies rather than blow the entire credit limit on new clothes or a weekend trip.