A credit card is a payment mean that requires a responsible approach. On a limited scale and with the correct application, it is useful, and when used carelessly, it drives the holder into a financial trap. It’s like an anesthetic drug: micro doses strictly according to schedule and purpose support a comfortable state of health. But an uncontrollable and impetuous increase in search for pleasure leads to a subsequent “breaking” and perishing health. The analogy of loan with drug addiction, alas, is quite appropriate.
Are credit cards popular among students? And should you get one too? It is not a secret that getting your first credit card as a college or university student can be a tough process. Why? One of the reasons for this can be explained by a recent statistics showing that an average American graduate has about 37.000$ in student loan debt. Young people do not follow any strategies to help themselves manage that enormous burden.
There are several features to be considered using a credit card: the interest rate, the length of a grace period, the availability and size of commission for cashing at ATMs, service fee, and others.