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Experts warn students of credit card debt effects

While many young adults in South Carolina dream about going to college and finally experiencing freedom, finances can be a burden for some. Many students turn to credit cards to help finance their lifestyles while they are waiting to get a job. However, many experts warn against creating credit card debt because it can detrimentally affect people who need to build a strong credit history.

With the job market being unstable and the strong possibility of debt from student loans, credit card debt could be adding another factor into someone's finance history that could later cause issues if the cards are not paid off.

With the job market being unstable and the strong possibility of debt from student loans, credit card debt could be adding another factor into someone's finance history that could later cause issues if the cards are not paid off.

Many students will be bombarded by credit card offers and while it can help students struggling to get by, it can also bring a big set of problems. While there is nothing wrong with accepting a credit card offer -- and it is a good way to begin to build a solid credit history -- it is also important to remember to pay the card off every month. A person's credit score can have a great impact on whether or not the individual is approved for an apartment, a car loan or even a job these days. Ensuring that credit is only obtained when it is absolutely needed is a good way to ensure future financial health.

South Carolina students may want to read the fine print on credit card offers before applying. Sometimes, the interest rate and fees can come as a surprise once the first payment is due. Avoiding credit card debt is a way to begin pursuing a responsible financial history and avoiding quick decisions that could later haunt them. If credit card debt has already become a problem, bankruptcy attorneys not only know the

Source: KCTV 5, "Experts warn about college grads getting into credit card debt," Laura Mccallister, May 17, 2012

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