College Prep: Credit 101

In just a few weeks, thousands of teenagers will be going off to college for the very first time. Thousands more will be returning. It seems like every store I go into these days is prepping collegiates for their life on campus. About Credit/Debt Management wants to prep you too.

You see, I learned from watching Maxed Out that college students are one of the prime targets of credit card companies. Don't think that just because you're a student without have a job that a credit card company won't gladly hand you a credit card. Some companies treat scholarships or student loans as income. Some go so far as to count the checks your parents send you for food and gas as income.

When you're a college student, you don't have to go out looking for credit. It comes looking for you. You'll be walking across the quad and some guy at a table will offer you a free t-shirt, bobble head, or Frisbee, just for filling out an application. Free stuff to put your name and social security number in a box? Sure! You'll forget all about that application until you open the mail one day and see a shiny new credit card with your name on it.

Getting that first credit card may be exciting, but without the proper spending habits, it's easy for college students get into debt before they've even finished their degrees. Believe me, there are few things worse than getting that first job after college and using your first paycheck to start paying off your first credit card.

Know how you have to learn how to drive before you get behind the wheel of a car? Well, that's exactly what it's like with credit. If you don't want to have a serious financial accident, you should learn as much as you can about credit before you're lured into signing your future paychecks away from a free t-shirt.

So what do you need to know before you go off to campus this fall?

• The Essentials of Credit


• Why Does Having Good Credit Matter?
• How To Choose A Credit Card
• How To Build A Good Credit History
• What's the Best Way To Stay Out Of Debt?
• What Is A Credit Report and Credit Score?
• What Credit Cards Should You Stay Away From?
• What To Do When You Can't Make Your Payment

If you're not a college student, but the parent, relative, neighbor, or friend of one, you can help by passing along these important credit lessons as your teen goes off to college.