Student credit cards insights
By allowing your young adult to have a student credit card, he or she can learn how to budget by having to set aside money each month to pay the bill. The student will also learn about interest and how it and late fees can build up if bills remain unpaid. Smart parents of a college student set limits on their childs student credit card use. The credit limit should be kept low as a way to discourage binge spending and develop responsible spending habits. The student away at school will learn quickly that it is far better to save the credit card for necessary purchases such as books and school supplies rather than squander the entire card limit on frivolous expenditures.