There's no shortage of resources available telling you why college students should not have credit cards. Indeed there are some very valid concerns about college students and credit cards which are address later in this article, but there are also a number of good reason parents should help their children obtain a credit card heading off to college. This article covers some of these reasons.
They're going to get one anyways - Recent studies have shown that as high as 92% of college student have at least one credit card by their sophomore year. Most of which just apply for an offer they receive in the mail without comparing their options By taking action early you can help them find the best credit card for them with lower rates and a more reasonable spending limit. This also provides you the opportunity to educate them on the risks of having a credit card.
Building a credit history - Once your child is out of college they will need credit. Building a credit history while in college will give them a huge leg up when it comes time to apply for an auto loan or a mortgage. By using a credit card to build a good credit history they'll be more likely to be approved for these loans, get better rates, and hopefully won't need you to cosign for them.
Learn about credit before adulthood - Unfortunately most public high schools really don't teach student about basic budgeting and financial planning they'll need as adults. A good portion of parents don't take the time to do this either. This results in most young adults today learning about credit the same way most of us did, the hard way. By allowing your child to have a credit card with a small credit line in college they can begin to learn these lessons in a more controlled environment, especially if you're a co-signer who has access to the account.
They teach budgeting - Most college students would be hard pressed to tell you where their money goes. This is because when dealing with cash it's easy to forget what exactly you paid for each month. By using a credit card for expenses and paying off the bill each month it helps show your kids exactly where that money is going, the true cost of eating out and how to live within a budget.
To make online purchases - A college student can save a fortune by purchasing text books online rather than on campus. The same is true about virtually every other item from clothing to furniture, electronics and music. This is the period in life where every penny counts for most people. You can not make purchases at most online stores without a credit card.
Emergencies - Like it or not your child is most likely going to get themselves in a financial emergency at least once during college. Not only can having a credit card ensure they'll be able to eat, but can also come in handy in actual emergencies such as when a car breaks down or runs out of gas away from campus.
It's easier to qualify as a student - It may seem odd, but it's actually harder to qualify for a credit card as a young adult out of college than while in college. Banks offer student credit cards specifically for college student that have lower qualification standards. Your child will need a credit card eventually and it will be much easier to get one now.
Motels and airlines require one - If you child is going to school out of town, most likely they'll make the trip home once or twice. It's next to impossible to make hotel reservations or plane tickets without a credit card.
Addressing 'The Concern'
There's really only one concern that parents have about their children having credit cards. 'They'll run up the bill, put themselves in debt and destroy their credit history.' This does happen in a number of cases, but as mentioned before they're much more likely to do this on their own than if you help them with the process. There are some things you can do to prevent or at least limit this.
Get a low credit limit - This will give them what they need for emergencies, online purchases, motels and many of the other benefits listed above, but stop them from running up a large amount of debt. Even if the bank gives you a higher credit limit by default you can request it be lowered.
Co-sign for them - While this option does make you personally responsible for any debt they run up, it also give you access to the account so you can monitor spending. It's important you take the time to review the bill and payments each month. Most banks will let you do this online now.
Get a prepaid credit card - This doesn't provide the benefits of building a credit history but does provide most the other benefits. In addition you can replenish them online or by phone to provide an allowance, or allow others to do so as gifts.
Checking accounts with debit cards - By getting a debit card tied to a checking account your child can have all the conveniences of a credit card without having to worry about getting into debt, or pay the annual fee that usually comes with a prepaid card. However, it does not help them build a credit history.
Find tips about green grasshopper and lubber grasshopper at the Grasshopper Facts website.
What's wrong with this resume?
OBJECTIVE
To secure a challenging position within the medical industry where I can utilize my skills and training.
QUALIFICATIONS
Dependable, thorough, and well-organized planner who is innovative and possesses effective communications with all levels of customers, management and individual providers, insurance verification, obtaining prior authorization, excellent interpersonal skills, processing medical claims, accounts receivable and payable, reporting, coordination of patient care, medical terminology, HIPAA compliant, telecommunications, 10-key by touch, patient/physician liaison, team player, bilingual, strong analytical skills, knowledge of most Microsoft applications, and medical.
Education:
Pierce College
Currently Enrolled Associates Degree Liberal Arts Winnetka, CA
Grover Cleveland High School
June 1998 High School General Education Reseda, CA
Experience:
April 2008 - Present NORTH VALLEY MEDICAL GROUP Mission Hills, CA
Front Office Staff
Check in patients, verification of eligibility and benefits, collect payments, greet patients, filing, copying, making charts, billing, follow up on denial and appeals of medical claims.
Graphics System Group, LLC
June 2006 - December 07' ACCOUNTING CLERK/ BILLING COORDINATOR New York, NY
Ensure timely payments of vendor invoices and expense vouchers. Maintain accurate records of all payments. Process new vendor account applications. Manage collection activities such as sending follow-up inquiries, negotiating with past due accounts, and referring accounts to collection agencies. Solicits payment on overdue accounts. Responsibilities also include keeping records of all delinquent accounts and incomplete files. Generate and distribute weekly Aging, Sales and Payment reports to Sales Representatives. Obtain sales orders from CSRs. Distribute sale orders to Sale Reps. Correct order confirmation and produce invoice.
FIBERMARK
February 2005 - January 2006 SECRETARY/OFFICE MANAGER Santa Monica, CA
Scheduled and Confirmed Appointments, Submitted Weekly Payroll, Accounts Payable, Accounts Receivable, Prepared Bank Deposits, Answered Phones, Maintained Office and Shop Supplies
RUGSUSA.COM
November 2003 - December 2004 DATA ENTRY/ CUSTOMER SERVICE New York, NY
Assisted Office Manager, data entry for billing, filing, mail, chargebacks with various credit card companies, and customer service.
CONCORD CAREER INSTITUTE
October 2002 - July 2003 FINANCIAL AID OFFICER North Hollywood, CA
Conducted interviews with students and parents. Determined students financial aid eligibility. Packaged student's financial aid. Explained and reviewed all paperwork with student. Maintained departmental logs. Provided tentative awards letters to student applicants. Monitored FAME reports.
BRYMAN COLLEGE
September 2001 - September 2002 FINANCIAL AID OFFICER Reseda, CA
Ensure students are packaged. Setting financial aid appointments and issuing financial aid packets to potential students. Conduct financial aid interview and inform students their potential financial aid eligibility. Submit packets to global for funding. Complete and conduct exit interviews. Completing SSCR report.
Skills:
Bilingual (English/Spanish) Written, Fluent
Computer Skills:
Word, Excel, Outlook, Internett Savy, Goldmine, Eassit, SAS, Filemaker, Solomon,
Answer
i think its great. very well thought out.
comments section.
Posted in 
Tags: 