It's Okay to Have a Credit Card. Just Don't Use It to Pay for Books or Tuition
Before the economy went bad, credit card debt was often blamed on irresponsibility; since then, credit cards have become key to survival. Even with mounting debt, families can improve their situations. In fact, if a job was lost recently, it might be a good idea to consider transferring to a credit card with lower - or zero - interest.
If used responsibly, a credit card can be a convenient and safe way to pay for large purchases like concert tickets and class rings. It's recommended that they not be used to purchase books or pay for tuition, though. Paying such purchases off quickly could be a problem. Even with a zero interest credit card, paying back $500 in books or $1,500 in tuition or, worse, both could be difficult.
Still, credit cards, when used responsibly, are a great way for college students and recent graduates to establish good credit. For people who already have credit cards, visiting a site like CompareCards could help them compare rates and find new cards with lower interest.
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