Students are using their credit cards for food, clothes, cosmetics... During orientation, credit card companies are on campus in droves. Credit card companies have come under fire for this but they are still there.

I caution students not to fall for the "deals" offered by these companies. Free "T-Shirts", water bottles etc... are offered.

Here are some stats by college year:

67% of Freshmen have credit cards

90% of Juniors have credit cards

88% of Seniors have credit cards

Since 2004, there has been and increase of 60% of students carrying credit cards and 35% of the students report that they do not discuss credit cards with their parents.

Students need to have credit education BEFORE getting that first credit card. Adults have a problem with credit cards so why would we expect anything different from our young adults.

How will you discuss this with your student? Have you considered a debit card instead of a credit card?

Be sure to see my blog for even more information on credit cards...

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