Your credit rating has a serious bearing on the course of your life. Having a good credit rating means more favorable interest rates when taking out a loan and can even make you more attractive to potential employers.

It wasn’t all that long ago that credit card companies were handing out cards left and right. You would see low interest credit card offers with very high credit limits. Credit cards for college students were easy to get - the card offers were sent out in bulk and it was so easy to apply and be approved. People took advantage of these offers and bought those things that they really couldn’t afford otherwise - but could afford to pay off over time.

If your folks didn’t happen to be geniuses about money and particularly if you’re still young, you might have problems taking care of your finances. If you spot that jacket that you just simply have to have, then you produce that card and forget all about that statement which will be coming in a matter of weeks.

Unless you were raised by an accountant or tax man, if you’re young, you may not have a good handle on your finances. If you see a great pair of shoes or a video game that’s on sale, it’s likely that plastic comes out of your wallet and you walk away with the goods. However, the bill does come at the end of the month.

It’s unbelievable, but nonetheless true, that offers for credit cards for college students are as abundant as they were thirty years ago, but such offers no longer have what you’d call an attractive APR. Fees are substantial for late payments. A single late payment most often results in an even higher APR.

Some credit card companies may not require much information from you before issuing that card. It’s up to you to read all of the fine print before you accept the card. Such agreements are printed in a very small font and are several pages long. These little brochures are designed to be of little visual interest, stuffed in the envelope along with glossy four-color offers for other services. They’re hoping you won’t read the agreement!

Be smart when you shop these credit cards for college students. Read the cardholder agreement carefully. Don’t regard that card as a windfall of cash. It isn’t. Be prepared to pay it off each month. If you must max it out for emergencies, make at least three times the minimum payment, to avoid having your balance increase instead of decrease. If you’re smart, a credit card can be a good thing!