University Credit Cards

Written by Jessica Duquette
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University credit cards can help eliminate financial worry for both students and parents. This flexibility aids in purchases such as tuition payments or books. College expenses continue to increase and most people are not able to afford tuition, room and board, or even books with their own finances. If you are lucky enough to receive a scholarship or even a loan you are grateful for the help but also know that some of those payments may be delayed in arriving.

That is why having a credit card is so important; it can be used in emergency situations to cover a tuition payment or help pay for some of those unexpected costs. In most cases the card will not have a credit limit high enough to cover an entire tuition payment, but it will certainly help some. As a student faced with a large course load, paying for education should be the last thing on your mind.

Building a History

The natural progression after graduating from college is obviously getting a job and becoming fully independent. Along with this freedom usually come purchases of a car or even a home. However, many students are unable to qualify for large mortgages or car financing because they do not have a credit history. By simply allowing students to have university credit cards you can build credit and establish a reliable history.

Problems With University Credit Cards

It is very tempting for a student to apply for a credit card and believe that they have a money source whenever they need it. While they may not have a job that earns enough to pay for expenses they are more concerned with having fun or taking that spring break trip with friends. Making sure all students are aware of the negative outcomes of missed payments is a parent's responsibility because the credit card company is certainly not going to educate them.


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