Yes, it’s true – Many college students wind up getting themselves in trouble from time to time financially. This can be a real issue when it comes to credit cards especially. But there are plenty of really good reasons why every student needs a credit card too. Let’s take a look at five of the top reasons every college student needs a credit card if it’s used responsibly.
1. Credit Cards Help in an Emergency
Emergencies do happen from time to time and it’s no surprise that they’re even more likely to happen to college students than any other group, simply because of less stable circumstances if nothing else. When in college, it’s easy to find a way into little predicaments. Whether the car needs emergency repair or a new book is needed right away for class but the funds are stretched for the month, credit cards can really help students in a bind.
2. Travel is Nearly Impossible without a Credit Card
College students probably travel more than most other demographic groups of people across the country. Whether going home for the holidays, traveling with a school group or society, or even just catching some rays during spring break, making reservations for hotels, plane tickets, and car rentals is practically impossible these days without a credit card.
3. Building Credit History as a Student is Beneficial
By obtaining a student credit card while still in college and making responsible choices, young adults are setting themselves up nicely for the near future to come. This day in age, credit history plays a role in just about everything including the biggies such as buying a car and renting an apartment to getting insurance and finding a good cell phone deal. Starting off on the right foot with credit will give a bit of an advantage in the post college years.
4. Credit Cards Make it Convenient to Shop Safely Online
Many times the very best deals are only found exclusively online. This holds true whether buying books and supplies on eBay for the next semester or whether keeping up to date with the latest styles and fashions of the season. Buying online isn’t possible with cash and debit cards just aren’t as safe as credit cards. Credit cards really are the most secure and most convenient way to go for shopping online.
5. Carrying a Student Credit Card is Safer than Carrying Cash
Cash still speaks, but it’s quite a bit riskier than carrying a credit card instead. Losing a purse or wallet full of cash is as good as kissing that money goodbye. In a similar scenario, losing a credit card comes with extremely limited responsibility as long as the missing card is reported right away. Also, there’s really no safe place to keep cash when on campus, is there?
As long as it’s used responsibly, the reasons why a student needs a credit card easily outweigh the reasons for not having one.
Just remember when using credit when away at college is to use it responsibly. If your taking out loans to attend your university and your also using a credit card excessively then your going to be in a shock once you graduate. I know of good friend that upon graduating was in debt by over $60k. What to know the scary part? $22k of that was credit card debit, and it took him almost a year before finding a decent job after graduating. So he had to work two odd jobs while interviewing just to keep his head above the water. If you have to take out student loans I would be very resistant of using any kind of credit while in school. Work part time job to earn that extra spending money.