Handle Credit Well : Teens & College Students Getting Sucked Into Credit Credit Debt

Everyday, countless Americans wakeup and find themselves surrounded by cleverly laid financial trap. Well, it will be also true to mention that most people never see it comming; that is untill it's too late. Today everyone know that college students quickly getting into credit card debt. This problem is now also seen in case of freshers can as they cannot handle credit well. According to a report released by Sallie Mae, one of the nation's largest student loan providers, the average college student is carrying more than $3,000 in credit card debt on at least four credit card.

Well, its a bit tough to know how of them have credit and how many are already in debt. This is bacause, kids under 18 technically cannot actually apply for a credit card without a co-signer. CardWeb.com which  is responsible for monitoring the credit card industry does not track teen cardholders. I think most teens lack a clear understanding of how credit works and hense they a most vulnerable to debt.

So now the question arises, how can the teens and college staudents can protect themselves? First of all the teens and college students should boost their financial IQ and should have a clear understanding of all these sort of financial trasactions. They should know how credit works and the importance of paying in time and also the interest rates.

Everyone should give an effort to handle credit well. They should focus more on future earnings and gaining more financial knowledge. Today credit cards have become a fact of life on college campuses and also the students represent a huge market for credit card companies. Colleges, parents, and public policy makers should also work together to combat the problem of student consumer debt