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Credit Card Debt: Diving Head first into debt

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The best way to avoid getting into debt, or serious financial trouble, is to remember to look before you leap, and don’t dive head first into any deal, or credit card, without carefully thinking it over, or talking to someone you know and trust. Now, I know that almost every day some us get pre-approved for some sort of credit card in the mail, and in some cases it has the dreaded P word on the card; Platinum. These cards are especially alluring to younger, more inexperienced individuals, and yes colleges are swarming with credit card companies looking to get students signed up. Thus, let’s examine ways in which you can avoid the hassle, the headache, the debt, and the bills.

Credit card companies and college campuses seem to virtually go hand in hand. Young, dreaming minds looking to make a difference in the world, while pursuing their education. Yet, what many late teen/early twenty something’s don’t know, is that there are a ton of credit card companies out there looking to get you signed up for something they may have no idea about. Now, many students believe that they are going to build credit by signing up for a credit card at a young age, and some even believe it’s a sign of responsibility. This may be true, but remember with all the pressures and temptations to spend, spend, spend with the college life style, many students find themselves way in over their head before they even know it.

Thus, even if you get a free shirt, key chain, or water bottle for signing up, you should ask yourself one thing; is it really worth it to run up a high bill all for some cheesy merchandise? If you do want a credit card there are two key pieces of advice that I have. First, and for most, wait till you are at least between the age range of 21 to 23. This may seem a little bit old, but remember that old saying; with age comes wisdom? This is a great age to start when it comes to financial responsibility, and better understanding how to properly use a credit card. My second piece of advice is to go to your family banker or a well known bank, and discuss student credit card options. Not only do these cards come with lower limits, but by going through a bank you can either be with someone you know and trust, or build a long lasting banking relationship.

So it’s important to remember to not dive head first into a credit card, because that can mean diving first into credit card debt. This is coming from someone who waited till the age of 25 to get a credit card, and I’ve had no regrets about it.