Credit Card Note - The College Students Guide to Credit Card Responsibility

Credit Card Note - The College Student's Guide to Credit Card ResponsibilityThis credit card note urging students to use a credit card responsibly is part of an article series on Student Financial Aid for College, a blog run by a student at the University of Illinois. This credit card note is my contribution to this community.This credit card note is inspired by a comment I made in a discussion group about credit card spending. The topic was consumerism and the increasing trend of credit card companies and other companies marketing heavily to college students.Here's what I said: 'The fact is that credit card companies are exploiting college students by giving them the most expensive products available to consumers.' I noted that the typical college student spends most of his or her college career with credit cards. They don't understand financial responsibility and their sense of entitlement grows as they get older.Here's the credit card note I have for students. It would be wise to follow the Federal Credit Card Act. Basically, each time you buy something with a credit card, the charge should be debited from your credit limit. If you can't pay the debt back, you should report the delinquency to the credit card company.But if you do want to dispute a bill with your school records, be sure to bring all documents and relevant evidence to your dispute meeting. Having your school records will help your chances of winning your dispute.So here's my credit card note for students: You must carefully monitor your spending habits and read your credit card statement every month. All debts must be paid.While you're on the lookout for bad habits, keep in mind that credit card companies have some very reasonable rights. They can cancel your account if you don't pay your debt. Your school records can also prove your default to the credit card company.Take the steps I've suggested in this credit card note for students. Use a credit card responsibly.