Helping Your College Student With His Or Her Visa Card
Teens and those in their early twenties are very savvy these days, but not necessarily about money. So when Visa comes calling, they snatch up credit card deals (often aimed at the university market) and start piling on the deals, only to find themselves in debt later.
You can help your child by giving him or her some helpful tips on using a Visa card for good, not evil.
Visa card tip #1: Only use in emergency situations
For many students, an emergency equals the need for a new pair of shoes. Of course, this not an emergency at all, and a Visa thats already maxed out should never be used for a luxury item. Instead, tell your teen that if the answer to the question, Can I live without this? is yes, the Visa card shouldnt be used. On the other hand, if the teen finds him- or herself in a bind (such as on a date with a loser or someone violent and thus needing a quick ride back to the dorm), the Visa can be used without question.
Visa card tip #2: Pay off all the balances
Many young Visa users think that they can just pay the minimum amount due and never worry about paying the piper...
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