It gets talked about time after time: should college students have access to credit cards? There is no law for or against this. In most cases, it is up to the student as well as his/her parents. Of course, some students apply for a credit card and never tell their parents – this leads to many problems, as you can imagine.

The bad thing about college students and credit cards is that they can be easily abused. In other words, some students just don’t know when to put the plastic away and leave well enough alone. Instead, they think they can spend up to their limit and deal with the debt at a later date. The end result is financial disaster before ever leaving their college campus.

But can’t they be good at the same time? In some cases, yes, credit cards for college students make sense. For example, this is a great tool to have for emergencies. This could be anything from a broken down car to needing to purchase a classroom textbook on the spot. The question is: will you know when to use your credit card for emergencies and when to leave it in your wallet? Obviously, this is what most parents worry about.

There are pros and cons of carrying a credit card no matter how old you are. With college students the situation is magnified. Now that you know about the good and bad, you can make a more informed decision as to how you should handle this situation. If you are a college student this has probably come across your mind. The same holds true if you are a parent. What are you going to decide on?

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