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Money and Finance > Borrowing or Lending Money > Credit Cards for Students > CONs
 Posted by anna
Jan 09, 2007 08:01 PM
Credit Cards for Students
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These days various types of student credit cards are available. If students prudently manage this credit card, they will get credit rating while creating a better financial resource. It can provide better support to a student, but there are certain misuses of student credit card that cannot be overlooked. Let’s discuss both pros and cons of student credit card.
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| CONs |
What's your rating |
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| Live beyond your means |
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| Temptation of over-spending is always there and you may harm your credit rating instead of improving it.
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| High Interest Rate |
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| Card’s soaring interest rate may worsen the financial condition of the student. The interest rate of student credit is likely to be higher in comparison to other credit cards. |
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| One can come Under Debt Trap |
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| Liberal use of card can put the students under debt. In case of misused, it is very easy to come under a debt trap due to your inability to pay them.
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