Thread: College Debt
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Old 07-14-07, 05:53 PM
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apclassic9
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Been out of school for OH TOO MANY years... but went on full scholarship. Credit card companies didn't hand out cards back in the 70's like they do today; I got an AmEx card 3 years after I graduated college, and still have that. I think it's a great training tool - charge & pay, not charge & string out.

College students should NOT have credit cards. You kids are too young, you have no real income, and you don't think about paying the load, plus your college loans. So, when you actually have a job, and have disposable income (this is $$ after taxes, all your bills & basic expenses) in excess of 15% of your needed budget, then you may get a credit card. This is, of course, after you have at least 6 months worth of basic expense banked for emergencies.
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