i was a college kid with credit cards. they seem to fly into your mailbox in certain school-driven towns. i opened a few a stores to get the "special"discount...but never used them again afterward. dont take their bait. if you use a card for like gas, pay it off each month. this will help your credit...no other way will by using cards. if you dont pay them off immediately, it just compounds. and generally the "introductary" offer of 0% interest every month will only last a year at most...next thing you know, you have a 500 dollar card and a 20% interest rate. at that point, you are only paying interest on the balance each month and nothing is going to the principle amount! a serious in-depth look at finances at an early age can only help. i was helping my mom pay bills when i was 12...she sat me down and made me help with reconciling the ledgers, etc. now my hubby looks to me for a "no-spending" crackdown bc i can say no!
at 2:28 PM on Mar. 2, 2010