A Speech on Credit Cards Are Harmful for College Students

College is a time of to discover new experiences and duties. Students tend to have Attractions for Credit card for so many obvious reasons. It is like a dream for them which they were living since school days. So when they start to go to college, one of the many things which students look forward to is having their very first own college credit cards.

By comprehending the goodness’s and pitfalls of getting a credit card in college, you actually can shield yourself from the probable economic harm while, at the same time, you can enjoy the college life fully with the decent line of credit to finance and fulfilll your necessities and hobbies.

As I said there are some pros of getting your credit card in college. For example, you will probably learn how to manage your finances from your college days, you can spent and save as you like actually you can also save more from it, but there are more cons than pros in reality of getting a credit card in college. And they are very bad for you and your future. The first thing you can Possibility get from a college credit card is a Bad Credit Score and as you all know that bad credit score can take some of your time to improvement.

If you fail to make payments on time and defaults on loans and your credit score can be irreparably harmed thus restricting the major economic decisions you can make. And if you have bad Habits of spending money so it will actually be affecting the Main credit card Holder.

Maximum college students who manage to get a college credit card for themselves then they can only be extensions of their parent’s credit line. This means that they will have a joint account with sharing the limits and balances of the said credit line that they have. This means if you fail to pay for your credit card on time it would not affect you but it actually will affect the main credit card holder, which is most likely your parent. The thing all young people have is a Temptations or want to Spend More money than you should. If a credit card is not on their back pocket or wallet, those college students are mostly forced to make it proper with the amount of cash they have in their hand.

However, that is not the scene if they a credit card to back them up. College students take decision to make more expensive purchases if they have their own college credit card because with it they can do so even if it is at least on a paper only. Instead of save up the enough amount of money from their pocket money to pay fully for the expense of the out of town trip or at least for the latest Smartphone model which that want to have, or for the concert tickets of their favorite band or singer. If they have a credit card college students tend to finance it immediately with their credit card, 

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