Student Credit - On Your Terms

Many credit card companies visit college campuses and extend credit card offers to students. Approval is typically a formality, which may seem great to the student, but many of those cards also come with high interest rates, high fees, and restrictive terms. (Worse yet, often the students don't even understand the rates, fees, and terms.)

Before your child goes to college, take the time to discuss credit and credit cards in particular. If you feel your child needs a credit card, talk to your banker first. Not only are you more likely to receive better rates and terms, but you will also be able to answer questions your child has and ensure they make better decisions about how and when to apply for and receive credit. Many students leave school heavily in debt; take steps to help your student be more likely to enter the workforce with their financial health intact.