Comments on: Our Favorite Cards For College Students http://www.bankaholic.com/our-favorite-cards-for-college-students/ Compare the Best CD (Certificate of Deposit) Rates, Highest Money Market Rates, Best Savings Accounts, Bank Deals, Interest Rates and Bank Reviews! Sat, 20 Mar 2010 17:23:31 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Robert http://www.bankaholic.com/our-favorite-cards-for-college-students/comment-page-1/#comment-172886 Robert Wed, 09 Sep 2009 11:44:50 +0000 http://www.bankaholic.com/?p=4004#comment-172886 I think you have to be very careful about credit cards and college students. That little piece of plastic can be very powerful. First, I think if parents allow a student to have a credit card, they should call the credit card company and ask for a low line of credit. Perhaps $1000 to $2000 - something that is manageable. Another option is to buy your kids prepaid cards, such as a prepaid VISA card. This can help them understand that they need to monitor purchases and watch the balance - because the money may not be there. I think you have to be very careful about credit cards and college students. That little piece of plastic can be very powerful.

First, I think if parents allow a student to have a credit card, they should call the credit card company and ask for a low line of credit. Perhaps $1000 to $2000 – something that is manageable.

Another option is to buy your kids prepaid cards, such as a prepaid VISA card. This can help them understand that they need to monitor purchases and watch the balance – because the money may not be there.

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