Now days anyone over the age of seventeen can easily obtain credit. The reason people are able to get credit at such a young age is because credit card companies are contacting college aged students when they apply to colleges and universities. The credit card companies are hoping to get the students to accept their pre approved credit card that is sent to them in the mail and use it for buying books and other college life necessities. These young people are happily accepting these credit cards because this is their first sign of adult independence.
Having a credit card means that the college student no longer has to ask their parent for money to buy every little thing that they want or need. This can be a good thing for the college student who is responsible enough to know how to use their credit card. The problem seems to arise when students use their credit card to thing that they really do not need and so they over spend with no financial resource to repay the money that they have spent. It is at this point that parents must get involved with their child’s usage of the credit card and teach them the proper way to use credit.