Credit Card College Prep

Soon students all over the country will be headed to campus. So will credit card companies.

Today, I asked a friend of mine, a senior in college, about her experience with credit cards. Her parents only advice regarding credit cards - stay away from them. Fortunately, she managed to do so, even though companies are often on the college's campus, offering free subs and drinks in exchange for a completed application.

Lucky for her, she works for a bank's call center, so she hears first-hand how consumers get trapped with credit card fees and high interest rates. It steered her away from credit cards until she knew she could afford one. Now, at 21, she has 2 credit cards (only actively uses one of them) and makes sure to pay the balance in full each month. She's definitely a rarity.

The college student is one of credit card companies' favorite type of customer. Students are on their own for the first time and finally get to have one of those pieces of plastic they've been enamored with for so many years. The credit card companies couldn't be happier.

In College Students Are a Credit Card Company's Dream Come True, I talk about how credit card companies market to college students and advise students on the right way to choose a credit card. It's a must read for students and parents of students heading off to college this fall.