Credit Card Abuse: Students need to read this!

On college campuses, do you know what poses a greater threat than alcohol or sexually transmitted diseases. Credit Cards.

According to a study released earlier this year by the Consumer Federation of America, expanding credit card debt is quickly becoming one of the most severe threats to academic success on college campuses.

Many students with credit cards have amassed large amounts of debt, and according to the study, estimates are that nearly 20 percent of students may have credit card debt in excess of $10,000.

An account by one student goes like this. Jim, a recent graduate, indicated he got into trouble as a sophomore, and is still paying for it. He only had to prove he was a full-time student and the next thing he knew, there were credit cards in his mailbox. He received the following cards and credit limits: VISA at $500, Sears at $900, JCPenney’s at $500 and Discover at $1,000. That is nearly $3,000 in credit for someone who did not have a job, or any visible means of support! What’s wrong with this picture?

With a negative credit history, it can be nearly impossible for you to rent an apartment, buy a house or car and most importantly—it could prevent you from obtaining your dream job.

The moral of the story. Handle credit responsibly, especially your credit cards.

Please visit our student section for additional information.

About The Author:

Bob Buckham is a successful author and regular contributor to http://www.best-free-credit-cards.com. Many have commented that his website offers the best recommendations, links and information on credit cards.