To Charge or Not to Charge?


September 13, 2011
by Lisa Lowdermilk
“Just charge it.”

“Just charge it.”

I'm willing to bet that you’ve been in a store and heard that phrase. Even if you haven't, you’ve probably been bombarded with letters asking you if you'd like to lower your interest rates, encountered representatives hawking credit cards (and complimentary t-shirts!) on the quad or heard of people who have racked up thousands of dollars in debt from recklessly swiping their plastic.

While handling a credit card involves a lot of responsibility, the good news is that it comes with plenty of perks as well. Citibank, for example, offers a Visa card just for college students and has a system of reward points to boot. Depending on your GPA, you can earn anywhere from 250 to 2,000 ThankYou Points just for doing well in your classes. You also get points for making your payments on time, which is a great incentive not to skip payments or only pay the minimum and accrue unnecessary interest penalties. You even earn five times as many points at restaurants, bookstores and more. So, while textbooks aren't exactly cheap, just remember that you're being partially reimbursed every time you use your credit card to buy them.

In a larger sense, using a credit card responsibly also helps students to establishing a good credit score. The higher this number is, the better your chances are of being accepted for a loan on your dream car or house. Lenders will see that you are not a liability and will be more likely to provide you with the funds needed to reach your goals.

If you're still not sold on getting a credit card, that's okay. There's plenty of time to establish credit after college. For those of you considering a credit card, though, just remember to spend responsibly and make your payments as promptly as possible.

Lisa Lowdermilk is a published poet, avid video gamer and artist. Her poems have appeared in Celebrate Young Poets: West (Fall 2006) edition and Widener University's The Blue Route. She enjoys watching thrillers, trying different restaurants and attempting to breakdance. Lisa is now majoring in professional writing at the University of Colorado Denver.

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