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In college, you will get inundated with special offers from credit card companies. There is a reason
for this. They want to hook you early on using credit cards. In fact, 80 percent of graduating college
seniors have credit card debt (before they even have a job).
Some may say my next comment is radical, but I hope it gets your attention.
Getting hooked on credit cards is as bad as getting hooked on drugs. Once you start using one, you’ll
want to use it more. Then, you will want to get more credit cards because they have special offers.
Before you know it, you’ll be leaving college with more debt than you can handle for the rest of your
You can also compare having a credit card to having a dangerous weapon that you have no idea how
to use. Pulling it out the first time may make you nervous. But the more you take it out, the easier it
gets to use it.
You want a new shirt, an expensive dinner, or just some tickets to a concert all your friends are going
to. Unfortunately, you don’t have the money, but you have the credit card. It’s so easy to just use it
now and pay later. Don’t do it.
There is absolutely no reason to have a credit card in college. You can use checks, a debit card, or—
why not pay the good old-fashioned way?—cash! Buy only what you can afford. College is a time to
enjoy life. It’s also a time when you see others doing things you want to do and having things you
want to have. You can still enjoy life without having a credit card.
I didn’t have a credit card until I started working, and the only credit card I had for the first few years
of my career was a business credit card that my company gave me. There was absolutely no need for
one. The little money I had was in my checking account or in my pocket. I found that when I paid for
stuff with cash, it made me aware of the cost and held my spending in check.
Live within your means. This also means living without a credit card while you’re in college.

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