Avoid College Financing with Credit Cards
May 1, 2008
As a college student, you will find that many credit card companies are willing to give you pre-approved credit cards. In fact, some will give you credit cards with a large credit amount. Other cards will have you make no payments until after you graduate or complete your course work. Sounds tempting? There are some pitfalls that you should be aware of.
Charging books, clothing, occasional tanks of gas and so forth during college can be very tempting. But if you finance your college through credit cards, you are going to have some huge bills when you graduate. Worse yet; many are at extremely high interest rates.
Avoid college financing with credit cards and you will learn to budget. You will have significantly less credit debt when you graduate from college. Plan, optimize and think smart with your money while you are in college.
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