Creditnet News Story
Credit advice for college students and their parents
Tuesday, June 22, 2010
By Danielle Robson
Many college students may be unfamiliar with the way their credit works, or what kind of credit history they have, simply because they've never had to deal with a financial situation that required it before.
But those changes are looming for many of them, since they are entering adulthood, and it's important for them to at least know the basics of credit, according to a MarketWatch report.
First, it's important for them to know that all credit activity, good and bad, will end up on their credit scores. Because many college students are now getting credit cards, it's important to keep in mind the importance of making on-time payments every month.
While having a credit card can be difficult for some students, who rack up thousands in debt, it might be a good idea for those that can be responsible with their cards, said the report. Simply by having an account, they are building a credit history, which is something many college graduates lack.
But students have to be careful. A recent WalletPop article said they are at a high risk for identity theft, with about 1 in 30 college students affected.
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