Office of Student Aid : Loans : Managing Your Loan Debt : Credit Card Basics

As a college student, you will be inundated with offers from credit card companies promoting free gifts to apply, promising introductory interest rates, and offering pre-approved credit limits. Please keep in mind that it is probably not in your best interest to respond to those offers. Although a credit card may be useful in emergencies and can help you establish credit, the lure of "easy money" offered by credit cards and a "buy now--pay later" attitude has contributed to financial problems for more and more college students.

To avoid credit card problems:

• Review credit card basics.
• Know the responsibilities and risks of carrying a credit card.
• Learn the 10 warning signs that you may be in financial trouble.
• Access Web resources for more information on credit cards.